Hexavest Inc. cut its stake in Everest Re Group Ltd (NYSE:RE) by 20.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 56,422 shares of the insurance provider’s stock after selling 14,153 shares during the quarter. Hexavest Inc. owned about 0.14% of Everest Re Group worth $12,185,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Somerset Trust Co boosted its position in shares of Everest Re Group by 190.5% in the 1st quarter. Somerset Trust Co now owns 122 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 80 shares in the last quarter. Stamos Capital Partners L.P. acquired a new stake in shares of Everest Re Group in the 4th quarter worth $28,000. Penserra Capital Management LLC acquired a new stake in shares of Everest Re Group in the 4th quarter worth $30,000. First Interstate Bank acquired a new stake in shares of Everest Re Group in the 4th quarter worth $50,000. Finally, Advisor Group Inc. boosted its position in shares of Everest Re Group by 16.4% in the 4th quarter. Advisor Group Inc. now owns 512 shares of the insurance provider’s stock worth $111,000 after purchasing an additional 72 shares in the last quarter. Institutional investors and hedge funds own 93.25% of the company’s stock.

RE has been the subject of a number of recent analyst reports. Zacks Investment Research cut Everest Re Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 2nd. Wells Fargo & Co reissued a “hold” rating and issued a $235.00 price objective on shares of Everest Re Group in a research report on Thursday, January 24th. Morgan Stanley lowered their price objective on Everest Re Group from $243.00 to $232.00 and set an “equal weight” rating for the company in a research report on Thursday, January 3rd. Finally, Deutsche Bank cut Everest Re Group from a “buy” rating to a “hold” rating in a research report on Thursday, March 28th. Eight equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $247.63.

Shares of RE opened at $214.69 on Wednesday. Everest Re Group Ltd has a one year low of $201.09 and a one year high of $261.25. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.08. The stock has a market cap of $8.80 billion, a price-to-earnings ratio of 46.17, a PEG ratio of 0.93 and a beta of 0.33.

Everest Re Group (NYSE:RE) last issued its quarterly earnings results on Monday, February 11th. The insurance provider reported ($5.89) EPS for the quarter, missing the Zacks’ consensus estimate of $6.04 by ($11.93). Everest Re Group had a return on equity of 2.33% and a net margin of 1.40%. The firm had revenue of $1.97 billion for the quarter, compared to analyst estimates of $2.03 billion. As a group, equities research analysts expect that Everest Re Group Ltd will post 23.14 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were issued a $1.40 dividend. The ex-dividend date was Tuesday, March 5th. This represents a $5.60 annualized dividend and a dividend yield of 2.61%. Everest Re Group’s dividend payout ratio (DPR) is presently 120.43%.

In other news, Director Roger M. Singer sold 900 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $223.69, for a total value of $201,321.00. Following the completion of the transaction, the director now owns 13,432 shares of the company’s stock, valued at approximately $3,004,604.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.30% of the company’s stock.

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Everest Re Group Profile

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 Unites States.

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

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