BlackRock Inc. lessened its holdings in shares of Everest Re Group, Ltd. (NYSE:RE) by 21.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,078,624 shares of the insurance provider’s stock after selling 830,622 shares during the quarter. BlackRock Inc. owned approximately 7.50% of Everest Re Group worth $783,787,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in RE. Huntington National Bank boosted its stake in shares of Everest Re Group by 1.5% in the second quarter. Huntington National Bank now owns 921 shares of the insurance provider’s stock valued at $235,000 after buying an additional 14 shares during the period. Torray LLC boosted its stake in shares of Everest Re Group by 0.8% in the second quarter. Torray LLC now owns 1,831 shares of the insurance provider’s stock valued at $466,000 after buying an additional 15 shares during the period. Wetherby Asset Management Inc. boosted its stake in shares of Everest Re Group by 2.0% in the second quarter. Wetherby Asset Management Inc. now owns 1,295 shares of the insurance provider’s stock valued at $330,000 after buying an additional 25 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Everest Re Group by 0.4% in the first quarter. PNC Financial Services Group Inc. now owns 7,634 shares of the insurance provider’s stock valued at $1,784,000 after buying an additional 28 shares during the period. Finally, First Merchants Corp boosted its stake in shares of Everest Re Group by 0.4% in the second quarter. First Merchants Corp now owns 8,137 shares of the insurance provider’s stock valued at $2,072,000 after buying an additional 35 shares during the period. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts recently issued reports on the company. Keefe, Bruyette & Woods reiterated a “sell” rating and issued a $245.00 price target on shares of Everest Re Group in a research note on Thursday. UBS AG cut their target price on Everest Re Group from $256.00 to $240.00 and set a “neutral” rating for the company in a research note on Tuesday. Buckingham Research started coverage on Everest Re Group in a research note on Monday, September 11th. They set a “neutral” rating and a $255.00 target price for the company. ValuEngine cut Everest Re Group from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 7th. Finally, Barclays PLC upped their target price on Everest Re Group from $299.00 to $305.00 and gave the stock an “overweight” rating in a research note on Friday, August 11th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $249.00.

Shares of Everest Re Group, Ltd. (NYSE RE) opened at 224.82 on Thursday. The firm has a market capitalization of $9.23 billion, a P/E ratio of 7.71 and a beta of 0.64. The company has a 50-day moving average price of $251.27 and a 200-day moving average price of $248.66. Everest Re Group, Ltd. has a 12-month low of $183.04 and a 12-month high of $277.17.

Everest Re Group (NYSE:RE) last posted its quarterly earnings results on Monday, July 24th. The insurance provider reported $5.51 earnings per share for the quarter, topping the consensus estimate of $5.24 by $0.27. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.46 billion. Everest Re Group had a net margin of 19.65% and a return on equity of 13.60%. During the same period in the previous year, the firm posted $3.17 earnings per share. Equities analysts predict that Everest Re Group, Ltd. will post $20.05 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 20th. Stockholders of record on Wednesday, September 6th were paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend was Friday, September 1st. Everest Re Group’s dividend payout ratio (DPR) is 17.15%.

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About Everest Re Group

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.

Institutional Ownership by Quarter for Everest Re Group (NYSE:RE)

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