Everest Re Group, Ltd. (RE) Position Reduced by Cambria Investment Management L.P.
Cambria Investment Management L.P. trimmed its holdings in shares of Everest Re Group, Ltd. (NYSE:RE) by 12.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,610 shares of the insurance provider’s stock after selling 1,060 shares during the quarter. Cambria Investment Management L.P.’s holdings in Everest Re Group were worth $1,937,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also bought and sold shares of the company. Capital Fund Management S.A. purchased a new stake in shares of Everest Re Group during the 2nd quarter valued at $7,256,000. OMERS ADMINISTRATION Corp bought a new stake in shares of Everest Re Group during the 2nd quarter worth $1,451,000. Swiss National Bank lifted its holdings in shares of Everest Re Group by 2.9% during the 2nd quarter. Swiss National Bank now owns 148,975 shares of the insurance provider’s stock worth $37,928,000 after acquiring an additional 4,200 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Everest Re Group by 3.1% during the 1st quarter. Renaissance Technologies LLC now owns 174,900 shares of the insurance provider’s stock worth $40,893,000 after acquiring an additional 5,200 shares during the last quarter. Finally, Aberdeen Asset Management PLC UK lifted its holdings in shares of Everest Re Group by 144.2% during the 2nd quarter. Aberdeen Asset Management PLC UK now owns 101,717 shares of the insurance provider’s stock worth $25,897,000 after acquiring an additional 60,058 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.
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Several research analysts have commented on the stock. Zacks Investment Research raised shares of Everest Re Group from a “hold” rating to a “buy” rating and set a $295.00 price target on the stock in a research note on Monday, July 17th. BidaskClub raised shares of Everest Re Group from a “hold” rating to a “buy” rating in a research note on Wednesday, July 5th. ValuEngine cut shares of Everest Re Group from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 7th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $259.00 price objective (up previously from $250.00) on shares of Everest Re Group in a research note on Thursday, July 6th. Finally, Wells Fargo & Company reaffirmed a “hold” rating on shares of Everest Re Group in a report on Monday, July 24th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $247.89.
Shares of Everest Re Group, Ltd. (RE) traded down 0.10% on Wednesday, hitting $229.08. 144,892 shares of the company traded hands. Everest Re Group, Ltd. has a 1-year low of $183.04 and a 1-year high of $277.17. The stock has a market capitalization of $9.41 billion, a price-to-earnings ratio of 7.86 and a beta of 0.62. The firm’s 50 day moving average price is $239.52 and its 200-day moving average price is $248.02.
Everest Re Group (NYSE:RE) last released its earnings results on Monday, July 24th. The insurance provider reported $5.51 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $5.24 by $0.27. The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates 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 quarter last year, the business earned $3.17 EPS. On average, equities research analysts expect that Everest Re Group, Ltd. will post $22.05 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 20th. Investors of record on Wednesday, September 6th were issued a dividend of $1.25 per share. The ex-dividend date was Friday, September 1st. This represents a $5.00 annualized dividend and a yield of 2.18%. Everest Re Group’s payout ratio is 17.15%.
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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