Pacad Investment Ltd. raised its position in shares of Everest Re Group, Ltd. (NYSE:RE) by 36.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,200 shares of the insurance provider’s stock after buying an additional 1,400 shares during the period. Pacad Investment Ltd.’s holdings in Everest Re Group were worth $1,324,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in RE. BlackRock Inc. increased its position in shares of Everest Re Group by 4,778.3% in the first quarter. BlackRock Inc. now owns 3,909,246 shares of the insurance provider’s stock worth $914,021,000 after buying an additional 3,829,110 shares during the period. Vanguard Group Inc. increased its position in shares of Everest Re Group by 3.2% in the first quarter. Vanguard Group Inc. now owns 3,052,626 shares of the insurance provider’s stock worth $713,734,000 after buying an additional 93,473 shares during the period. State Street Corp increased its position in shares of Everest Re Group by 2.3% in the first quarter. State Street Corp now owns 1,706,720 shares of the insurance provider’s stock worth $399,045,000 after buying an additional 38,072 shares during the period. AQR Capital Management LLC increased its position in shares of Everest Re Group by 28.9% in the first quarter. AQR Capital Management LLC now owns 1,289,792 shares of the insurance provider’s stock worth $301,566,000 after buying an additional 289,351 shares during the period. Finally, Principal Financial Group Inc. increased its position in shares of Everest Re Group by 10.1% in the first quarter. Principal Financial Group Inc. now owns 666,002 shares of the insurance provider’s stock worth $155,718,000 after buying an additional 60,973 shares during the period. 92.35% of the stock is owned by institutional investors and hedge funds.

Everest Re Group, Ltd. (NYSE:RE) opened at 252.48 on Friday. Everest Re Group, Ltd. has a 12 month low of $183.04 and a 12 month high of $277.17. The stock has a 50 day moving average of $263.58 and a 200-day moving average of $248.95. The company has a market cap of $10.37 billion, a P/E ratio of 8.66 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, 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 in the prior year, the business posted $3.17 EPS. Equities research analysts expect that Everest Re Group, Ltd. will post $20.71 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, September 6th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, September 1st. This represents a $5.00 annualized dividend and a yield of 1.98%. Everest Re Group’s payout ratio is currently 17.15%.

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RE has been the subject of a number of analyst reports. Keefe, Bruyette & Woods downgraded shares of Everest Re Group from a “market perform” rating to an “underperform” rating and decreased their price objective for the company from $251.00 to $245.00 in a research report on Monday, July 17th. Zacks Investment Research raised shares of Everest Re Group from a “hold” rating to a “buy” rating and set a $293.00 price objective for the company in a research report on Friday, July 7th. Morgan Stanley reissued 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 report on Thursday, July 6th. Wells Fargo & Company reissued a “hold” rating on shares of Everest Re Group in a research report on Monday, July 24th. Finally, BidaskClub downgraded shares of Everest Re Group from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Two analysts have rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Everest Re Group currently has a consensus rating of “Hold” and a consensus target price of $250.25.

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.

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

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