Standard Life Aberdeen plc Has $23.70 Million Position in Everest Re Group Ltd (RE)
Standard Life Aberdeen plc reduced its stake in shares of Everest Re Group Ltd (NYSE:RE) by 21.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 103,746 shares of the insurance provider’s stock after selling 27,989 shares during the period. Standard Life Aberdeen plc owned 0.25% of Everest Re Group worth $23,704,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the stock. Metropolitan Life Insurance Co. NY grew its holdings in Everest Re Group by 10.4% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 7,018 shares of the insurance provider’s stock worth $1,618,000 after acquiring an additional 660 shares during the period. State of Alaska Department of Revenue grew its holdings in Everest Re Group by 2.5% during the 3rd quarter. State of Alaska Department of Revenue now owns 13,013 shares of the insurance provider’s stock worth $2,971,000 after acquiring an additional 323 shares during the period. Morgan Stanley grew its holdings in Everest Re Group by 15.6% during the 2nd quarter. Morgan Stanley now owns 170,560 shares of the insurance provider’s stock worth $39,309,000 after acquiring an additional 23,018 shares during the period. Rowland & Co. Investment Counsel ADV acquired a new stake in Everest Re Group during the 3rd quarter worth about $1,511,000. Finally, Worldquant Millennium Quantitative Strategies LLC acquired a new stake in Everest Re Group during the 2nd quarter worth about $4,229,000. 95.37% of the stock is owned by institutional investors and hedge funds.
Several analysts have recently commented on RE shares. Deutsche Bank reduced their target price on Everest Re Group from $250.00 to $247.00 and set a “buy” rating for the company in a research note on Tuesday, November 20th. TheStreet upgraded Everest Re Group from a “c+” rating to a “b” rating in a research note on Monday, October 29th. Zacks Investment Research downgraded Everest Re Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 23rd. Credit Suisse Group started coverage on Everest Re Group in a research note on Tuesday, August 7th. They issued a “neutral” rating and a $239.00 target price for the company. Finally, Citigroup reduced their target price on Everest Re Group from $237.00 to $232.00 and set a “hold” rating for the company in a research note on Monday, October 22nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $254.11.
Everest Re Group (NYSE:RE) last issued its earnings results on Monday, October 29th. The insurance provider reported $4.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.07 by $1.02. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.80 billion. Everest Re Group had a return on equity of 11.82% and a net margin of 14.19%. During the same period last year, the business posted ($16.43) EPS. On average, sell-side analysts forecast that Everest Re Group Ltd will post 16.38 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 12th. Shareholders of record on Wednesday, November 28th will be paid a dividend of $1.40 per share. The ex-dividend date of this dividend is Tuesday, November 27th. This represents a $5.60 dividend on an annualized basis and a yield of 2.52%. This is an increase from Everest Re Group’s previous quarterly dividend of $1.30. Everest Re Group’s payout ratio is 61.54%.
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Everest Re Group Company Profile
Everest Re Group, Ltd., through its subsidiaries, provides reinsurance and insurance products. The company operates through the U.S. Reinsurance, International, Bermuda, and Insurance segments. 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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