Everest Re Group, Ltd. (NYSE:RE) Position Decreased by Traynor Capital Management Inc.
Traynor Capital Management Inc. reduced its position in shares of Everest Re Group, Ltd. (NYSE:RE) by 3.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,246 shares of the insurance provider’s stock after selling 49 shares during the period. Traynor Capital Management Inc.’s holdings in Everest Re Group were worth $323,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in RE. Toronto Dominion Bank increased its stake in shares of Everest Re Group by 23.1% in the first quarter. Toronto Dominion Bank now owns 447 shares of the insurance provider’s stock valued at $104,000 after buying an additional 84 shares in the last quarter. IFP Advisors Inc increased its stake in shares of Everest Re Group by 1.6% in the first quarter. IFP Advisors Inc now owns 509 shares of the insurance provider’s stock valued at $119,000 after buying an additional 8 shares in the last quarter. Assetmark Inc. acquired a new stake in shares of Everest Re Group during the first quarter valued at about $142,000. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Everest Re Group during the first quarter valued at about $200,000. Finally, Tokio Marine Asset Management Co. Ltd. acquired a new stake in shares of Everest Re Group during the first quarter valued at about $204,000. Institutional investors and hedge funds own 92.69% of the company’s stock.
Everest Re Group, Ltd. (NYSE:RE) traded down 0.09% during midday trading on Friday, hitting $269.07. The stock had a trading volume of 11,026 shares. Everest Re Group, Ltd. has a 52 week low of $183.04 and a 52 week high of $277.17. The stock has a 50-day moving average of $262.95 and a 200-day moving average of $244.90. The firm has a market cap of $11.05 billion, a P/E ratio of 9.21 and a beta of 0.63.
Everest Re Group (NYSE:RE) last posted its earnings results on Monday, July 24th. The insurance provider reported $5.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.24 by $0.27. Everest Re Group had a return on equity of 13.60% and a net margin of 19.65%. The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the previous year, the firm earned $3.17 earnings per share. Analysts forecast that Everest Re Group, Ltd. will post $21.48 EPS for the current fiscal year.
Several equities research analysts recently issued reports on the company. BidaskClub raised Everest Re Group from a “hold” rating to a “buy” rating in a research note on Wednesday, July 5th. ValuEngine raised Everest Re Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 2nd. Zacks Investment Research downgraded Everest Re Group from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Barclays PLC increased their price objective on Everest Re Group from $269.00 to $299.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 25th. Finally, UBS AG reissued a “neutral” rating and issued a $256.00 price objective (up from $251.00) on shares of Everest Re Group in a research note on Tuesday, August 1st. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $249.50.
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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