State Treasurer State of Michigan reduced its position in shares of Everest Re Group Ltd. (NYSE:RE) by 1.2% during the third quarter, according to its most recent disclosure with the SEC. The firm owned 16,820 shares of the company’s stock after selling 200 shares during the period. State Treasurer State of Michigan’s holdings in Everest Re Group were worth $3,195,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in RE. LPL Financial LLC boosted its stake in Everest Re Group by 32.2% in the first quarter. LPL Financial LLC now owns 6,711 shares of the company’s stock valued at $1,313,000 after buying an additional 1,633 shares during the last quarter. Royal Bank of Canada boosted its stake in Everest Re Group by 13.6% in the first quarter. Royal Bank of Canada now owns 156,991 shares of the company’s stock valued at $30,995,000 after buying an additional 18,837 shares during the last quarter. First Republic Investment Management Inc. boosted its stake in Everest Re Group by 31.6% in the first quarter. First Republic Investment Management Inc. now owns 3,784 shares of the company’s stock valued at $747,000 after buying an additional 909 shares during the last quarter. BlueMountain Capital Management LLC boosted its stake in Everest Re Group by 82.1% in the first quarter. BlueMountain Capital Management LLC now owns 1,930 shares of the company’s stock valued at $381,000 after buying an additional 870 shares during the last quarter. Finally, Breton Hill Capital Ltd. boosted its stake in Everest Re Group by 39.8% in the second quarter. Breton Hill Capital Ltd. now owns 3,586 shares of the company’s stock valued at $655,000 after buying an additional 1,021 shares during the last quarter. 90.84% of the stock is owned by institutional investors.

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

Shares of Everest Re Group Ltd. (NYSE:RE) traded down 0.64% during trading on Wednesday, reaching $210.55. The company’s stock had a trading volume of 422,159 shares. The stock has a 50-day moving average of $203.75 and a 200-day moving average of $189.49. Everest Re Group Ltd. has a 52-week low of $167.07 and a 52-week high of $214.86. The stock has a market cap of $8.61 billion, a P/E ratio of 9.15 and a beta of 0.48.

Everest Re Group (NYSE:RE) last posted its quarterly earnings results on Monday, October 24th. The company reported $6.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.24 by $3.29. Everest Re Group had a net margin of 17.07% and a return on equity of 12.50%. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the firm posted $4.53 earnings per share. Everest Re Group’s revenue for the quarter was up 13.4% compared to the same quarter last year. Analysts predict that Everest Re Group Ltd. will post $18.04 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 14th. Investors of record on Wednesday, November 30th will be issued a $1.25 dividend. This is a positive change from Everest Re Group’s previous quarterly dividend of $1.15. The ex-dividend date is Monday, November 28th. This represents a $5.00 annualized dividend and a yield of 2.37%. Everest Re Group’s dividend payout ratio (DPR) is presently 21.75%.

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Several analysts recently weighed in on RE shares. Zacks Investment Research cut Everest Re Group from a “buy” rating to a “hold” rating in a report on Wednesday, October 5th. Barclays PLC lifted their price target on Everest Re Group from $215.00 to $220.00 and gave the stock an “overweight” rating in a report on Tuesday, October 25th. Finally, Goldman Sachs Group Inc. raised Everest Re Group from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $166.00 to $195.00 in a report on Tuesday, November 15th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Everest Re Group presently has a consensus rating of “Buy” and an average target price of $215.20.

In related news, Director John R. Dunne sold 200 shares of the firm’s stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $190.03, for a total value of $38,006.00. Following the transaction, the director now owns 10,579 shares in the company, valued at $2,010,327.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.30% of the stock is currently owned by corporate insiders.

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’s segments include U.S. Reinsurance segment, International segment, Bermuda segment, Insurance segment and Mt. Logan Re segment.

5 Day Chart for NYSE:RE

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