Piedmont Investment Advisors LLC Lowers Position in Everest Re Group, Ltd. (RE)
Piedmont Investment Advisors LLC lessened its stake in Everest Re Group, Ltd. (NYSE:RE) by 28.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,626 shares of the insurance provider’s stock after selling 3,782 shares during the quarter. Piedmont Investment Advisors LLC’s holdings in Everest Re Group were worth $2,198,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the stock. Torray LLC raised its holdings in Everest Re Group by 0.8% during the 2nd quarter. Torray LLC now owns 1,831 shares of the insurance provider’s stock valued at $466,000 after acquiring an additional 15 shares during the period. Janney Montgomery Scott LLC increased its holdings in shares of Everest Re Group by 4.7% in the second quarter. Janney Montgomery Scott LLC now owns 937 shares of the insurance provider’s stock worth $239,000 after purchasing an additional 42 shares during the period. Synovus Financial Corp increased its holdings in shares of Everest Re Group by 2.3% in the second quarter. Synovus Financial Corp now owns 3,007 shares of the insurance provider’s stock worth $767,000 after purchasing an additional 67 shares during the period. Coldstream Capital Management Inc. increased its holdings in shares of Everest Re Group by 8.0% in the second quarter. Coldstream Capital Management Inc. now owns 958 shares of the insurance provider’s stock worth $244,000 after purchasing an additional 71 shares during the period. Finally, HPM Partners LLC increased its holdings in shares of Everest Re Group by 1.3% in the second quarter. HPM Partners LLC now owns 9,711 shares of the insurance provider’s stock worth $2,472,000 after purchasing an additional 120 shares during the period. 93.68% of the stock is currently owned by institutional investors.
Shares of Everest Re Group, Ltd. (NYSE RE) traded up $6.11 during trading hours on Friday, reaching $223.81. 319,463 shares of the company traded hands, compared to its average volume of 418,650. Everest Re Group, Ltd. has a one year low of $208.81 and a one year high of $277.17. The stock has a market capitalization of $9,120.00, a price-to-earnings ratio of 51.65, a PEG ratio of 12.67 and a beta of 0.61. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.33 and a quick ratio of 0.33.
Everest Re Group (NYSE:RE) last announced its earnings results on Monday, October 30th. The insurance provider reported ($16.43) earnings per share (EPS) for the quarter, missing the consensus estimate of $3.68 by ($20.11). Everest Re Group had a return on equity of 2.22% and a net margin of 4.27%. The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.62 billion. During the same quarter last year, the firm posted $6.53 earnings per share. The firm’s revenue was up 16.6% on a year-over-year basis. equities analysts predict that Everest Re Group, Ltd. will post 1.71 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, December 13th. Investors of record on Wednesday, November 29th were given a $1.30 dividend. The ex-dividend date was Tuesday, November 28th. This is a positive change from Everest Re Group’s previous quarterly dividend of $1.25. This represents a $5.20 annualized dividend and a yield of 2.32%. Everest Re Group’s payout ratio is 79.15%.
In other Everest Re Group news, Director William F. Galtney, Jr. purchased 6,000 shares of the business’s stock in a transaction on Monday, November 20th. The stock was acquired at an average cost of $225.29 per share, for a total transaction of $1,351,740.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.30% of the company’s stock.
Several research analysts have recently weighed in on the stock. UBS decreased their price target on shares of Everest Re Group from $240.00 to $230.00 and set a “neutral” rating on the stock in a report on Monday, October 2nd. Keefe, Bruyette & Woods reiterated a “sell” rating and issued a $216.00 target price on shares of Everest Re Group in a research report on Friday, November 3rd. Zacks Investment Research lowered shares of Everest Re Group from a “hold” rating to a “sell” rating in a research report on Friday, October 13th. ValuEngine upgraded shares of Everest Re Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Finally, Wells Fargo & Company set a $240.00 target price on shares of Everest Re Group and gave the stock a “hold” rating in a research report on Monday, October 30th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $250.56.
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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