Everest Re Group (NYSE:RE) Reaches New 12-Month High at $256.03
Everest Re Group Ltd (NYSE:RE)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $256.03 and last traded at $255.66, with a volume of 2609 shares. The stock had previously closed at $254.51.
RE has been the subject of several recent research reports. Morgan Stanley reissued an “overweight” rating and issued a C$125.00 price target on shares of Intact Financial in a research report on Wednesday, May 15th. ValuEngine raised shares of Yirendai from a “strong sell” rating to a “sell” rating in a report on Friday, May 3rd. Zacks Investment Research lowered shares of HEXO from a “hold” rating to a “sell” rating in a report on Wednesday, May 15th. Barclays set a $34.00 price objective on shares of DCP Midstream and gave the stock a “hold” rating in a report on Wednesday, May 22nd. Finally, UBS Group raised their price objective on shares of Willis Towers Watson from $202.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $251.00.
The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.37 and a current ratio of 0.37. The firm has a fifty day moving average of $250.61. The stock has a market capitalization of $10.48 billion, a P/E ratio of 55.24, a price-to-earnings-growth ratio of 1.05 and a beta of 0.26.
The business also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Wednesday, May 29th were paid a dividend of $1.40 per share. The ex-dividend date was Tuesday, May 28th. This represents a $5.60 annualized dividend and a dividend yield of 2.18%. Everest Re Group’s dividend payout ratio (DPR) is currently 120.43%.
In other news, SVP Jonathan Zaffino sold 1,048 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $248.01, for a total transaction of $259,914.48. Following the sale, the senior vice president now directly owns 9,617 shares of the company’s stock, valued at $2,385,112.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John A. Weber sold 500 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $246.46, for a total transaction of $123,230.00. Following the sale, the director now directly owns 6,499 shares in the company, valued at $1,601,743.54. The disclosure for this sale can be found here. 1.40% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in RE. CWM LLC boosted its stake in Everest Re Group by 129.9% in the first quarter. CWM LLC now owns 23,568 shares of the insurance provider’s stock valued at $5,090,000 after acquiring an additional 13,317 shares during the last quarter. Squarepoint Ops LLC boosted its stake in Everest Re Group by 143.5% in the fourth quarter. Squarepoint Ops LLC now owns 18,263 shares of the insurance provider’s stock valued at $3,977,000 after acquiring an additional 10,763 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Everest Re Group by 2.5% in the first quarter. PNC Financial Services Group Inc. now owns 7,010 shares of the insurance provider’s stock valued at $1,515,000 after acquiring an additional 170 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in Everest Re Group by 8.7% in the first quarter. Nomura Asset Management Co. Ltd. now owns 35,377 shares of the insurance provider’s stock valued at $7,640,000 after acquiring an additional 2,837 shares during the last quarter. Finally, Voleon Capital Management LP bought a new position in Everest Re Group in the fourth quarter valued at approximately $3,702,000. 91.28% of the stock is currently owned by institutional investors and hedge funds.
Everest Re Group Company Profile (NYSE:RE)
Everest Re Group, Ltd., through its subsidiaries, provides reinsurance and insurance products in the United States, Bermuda, and internationally. The company operates through four segments: U.S. Reinsurance, International, Bermuda, and Insurance. The U.S. Reinsurance segment writes property and casualty reinsurance; and specialty lines of business, including marine, aviation, surety, and accident and health insurance through reinsurance brokers, as well as directly with ceding companies in the United States.
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