Cambria Investment Management L.P. Has $1.67 Million Holdings in Everest Re Group, Ltd. (RE)
Cambria Investment Management L.P. trimmed its position in shares of Everest Re Group, Ltd. (NYSE:RE) by 4.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,292 shares of the insurance provider’s stock after selling 318 shares during the period. Cambria Investment Management L.P.’s holdings in Everest Re Group were worth $1,665,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of RE. Acrospire Investment Management LLC raised its position in shares of Everest Re Group by 66.7% during the 2nd quarter. Acrospire Investment Management LLC now owns 500 shares of the insurance provider’s stock worth $127,000 after buying an additional 200 shares in the last quarter. Pacer Advisors Inc. bought a new stake in shares of Everest Re Group in the 2nd quarter worth approximately $160,000. IFP Advisors Inc raised its holdings in shares of Everest Re Group by 29.1% in the 2nd quarter. IFP Advisors Inc now owns 657 shares of the insurance provider’s stock worth $167,000 after purchasing an additional 148 shares in the last quarter. ETRADE Capital Management LLC bought a new stake in shares of Everest Re Group in the 2nd quarter worth approximately $201,000. Finally, Sawtooth Solutions LLC bought a new stake in shares of Everest Re Group in the 2nd quarter worth approximately $205,000. 93.68% of the stock is owned by hedge funds and other institutional investors.
In related news, Director William F. Galtney, Jr. acquired 6,000 shares of the stock in a transaction that occurred on Monday, November 20th. The shares were purchased at an average cost of $225.29 per share, with a total value of $1,351,740.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.30% of the company’s stock.
Everest Re Group, Ltd. (NYSE RE) traded up $5.19 during trading on Tuesday, hitting $217.47. 656,000 shares of the stock traded hands, compared to its average volume of 412,178. The stock has a market capitalization of $8,930.00, a P/E ratio of 50.54, a P/E/G ratio of 12.40 and a beta of 0.61. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.33 and a current ratio of 0.33. Everest Re Group, Ltd. has a 1-year low of $208.81 and a 1-year high of $277.17.
Everest Re Group (NYSE:RE) last released its earnings results on Monday, October 30th. The insurance provider reported ($16.43) earnings per share for the quarter, missing the consensus estimate of $3.68 by ($20.11). Everest Re Group had a return on equity of 2.22% and a net margin of 4.27%. The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.62 billion. During the same period last year, the business earned $6.53 earnings per share. The business’s revenue was up 16.6% on a year-over-year basis. research analysts predict that Everest Re Group, Ltd. will post 1.71 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 13th. Investors of record on Wednesday, November 29th will be given a dividend of $1.30 per share. The ex-dividend date is Tuesday, November 28th. This is an increase from Everest Re Group’s previous quarterly dividend of $1.25. This represents a $5.20 dividend on an annualized basis and a yield of 2.39%. Everest Re Group’s payout ratio is presently 79.15%.
Everest Re Group Company Profile
Everest Re Group, Ltd., through its subsidiaries, is engaged in the underwriting of reinsurance and insurance in the United States, Bermuda and international markets. The Company operates in segments: U.S. Reinsurance, International, Bermuda and Insurance segment. The Company underwrites reinsurance both through brokers and directly with ceding companies.
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