Earnest Partners LLC Has $140.76 Million Stake in Everest Re Group, Ltd. (RE)
Earnest Partners LLC cut its stake in Everest Re Group, Ltd. (NYSE:RE) by 5.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 616,326 shares of the insurance provider’s stock after selling 36,615 shares during the quarter. Everest Re Group accounts for about 1.4% of Earnest Partners LLC’s portfolio, making the stock its 17th biggest position. Earnest Partners LLC owned approximately 1.50% of Everest Re Group worth $140,763,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently modified their holdings of the company. Acrospire Investment Management LLC increased its position in shares of Everest Re Group by 66.7% during the second quarter. Acrospire Investment Management LLC now owns 500 shares of the insurance provider’s stock valued at $127,000 after acquiring an additional 200 shares during the last quarter. Pacer Advisors Inc. purchased a new stake in shares of Everest Re Group during the second quarter valued at approximately $160,000. IFP Advisors Inc increased its position in shares of Everest Re Group by 29.1% during the second quarter. IFP Advisors Inc now owns 657 shares of the insurance provider’s stock valued at $167,000 after acquiring an additional 148 shares during the last quarter. ETRADE Capital Management LLC purchased a new stake in shares of Everest Re Group during the second quarter valued at approximately $201,000. Finally, Sawtooth Solutions LLC purchased a new stake in shares of Everest Re Group during the second quarter valued at approximately $205,000. 93.68% of the stock is owned by hedge funds and other institutional investors.
In other news, Director William F. Galtney, Jr. purchased 6,000 shares of the stock in a transaction on Monday, November 20th. The shares were acquired at an average price of $225.29 per share, for a total transaction of $1,351,740.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.30% of the company’s stock.
Everest Re Group, Ltd. (RE) traded up $1.92 during trading hours on Friday, reaching $212.28. The company had a trading volume of 608,995 shares, compared to its average volume of 538,557. The company has a market capitalization of $8,639.42, a price-to-earnings ratio of 50.09, a price-to-earnings-growth ratio of 12.28 and a beta of 0.61. Everest Re Group, Ltd. has a 12 month low of $208.81 and a 12 month high of $277.17. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.08.
Everest Re Group (NYSE:RE) last posted its quarterly earnings data on Monday, October 30th. The insurance provider reported ($16.43) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.68 by ($20.11). The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.62 billion. Everest Re Group had a net margin of 4.27% and a return on equity of 2.22%. Everest Re Group’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period in the prior year, the business posted $6.53 EPS. equities analysts predict that Everest Re Group, Ltd. will post 1.71 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 13th. Shareholders of record on Wednesday, November 29th will be given a dividend of $1.30 per share. This is an increase from Everest Re Group’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Tuesday, November 28th. This represents a $5.20 dividend on an annualized basis and a yield of 2.45%. Everest Re Group’s dividend payout ratio (DPR) is presently 81.63%.
RE has been the subject of a number of recent research reports. Zacks Investment Research downgraded Everest Re Group from a “hold” rating to a “sell” rating in a research report on Friday, October 13th. Buckingham Research initiated coverage on Everest Re Group in a research report on Monday, September 11th. They issued a “neutral” rating and a $255.00 target price for the company. ValuEngine downgraded Everest Re Group from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 7th. UBS decreased their target price on Everest Re Group from $256.00 to $240.00 and set a “neutral” rating for the company in a research report on Tuesday, September 19th. Finally, Barclays decreased their target price on Everest Re Group from $305.00 to $280.00 and set an “overweight” rating for the company in a research report on Monday, October 16th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $250.56.
Everest Re Group 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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