Teacher Retirement System of Texas reduced its position in shares of Everest Re Group Ltd. (NYSE:RE) by 3.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,641 shares of the company’s stock after selling 2,456 shares during the period. Teacher Retirement System of Texas’ holdings in Everest Re Group were worth $13,990,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Robeco Institutional Asset Management B.V. raised its position in Everest Re Group by 4.1% in the second quarter. Robeco Institutional Asset Management B.V. now owns 396,325 shares of the company’s stock worth $72,395,000 after buying an additional 15,506 shares during the period. Alps Advisors Inc. raised its position in Everest Re Group by 27.7% in the second quarter. Alps Advisors Inc. now owns 2,820 shares of the company’s stock worth $515,000 after buying an additional 612 shares during the period. Swiss National Bank raised its position in Everest Re Group by 6.7% in the second quarter. Swiss National Bank now owns 119,675 shares of the company’s stock worth $21,861,000 after buying an additional 7,500 shares during the period. First Republic Investment Management Inc. raised its position 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 worth $747,000 after buying an additional 909 shares during the period. Finally, Deprince Race & Zollo Inc. bought a new position in Everest Re Group during the second quarter worth $22,055,000. Institutional investors and hedge funds own 90.84% of the company’s stock.

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

Everest Re Group Ltd. (NYSE:RE) traded up 1.46% during midday trading on Tuesday, hitting $211.70. The stock had a trading volume of 130,481 shares. The stock has a 50-day moving average of $203.16 and a 200-day moving average of $189.29. Everest Re Group Ltd. has a 52 week low of $167.07 and a 52 week high of $214.86. The firm has a market cap of $8.65 billion, a P/E ratio of 9.20 and a beta of 0.48.

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

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 14th. Investors of record on Wednesday, November 30th will be paid a dividend of $1.25 per share. The ex-dividend date is Monday, November 28th. This is a boost from Everest Re Group’s previous quarterly dividend of $1.15. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.39%. Everest Re Group’s payout ratio is 20.01%.

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RE has been the subject of several research analyst reports. Zacks Investment Research downgraded Everest Re Group from a “buy” rating to a “hold” rating in a research note on Wednesday, October 5th. Barclays PLC increased their price objective on Everest Re Group from $215.00 to $220.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 25th. Finally, Goldman Sachs Group Inc. raised Everest Re Group from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $166.00 to $195.00 in a research note on Tuesday, November 15th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $215.20.

In related news, Director John R. Dunne sold 200 shares of Everest Re Group stock in a transaction on Tuesday, September 13th. The stock was sold at an average price of $190.03, for a total transaction of $38,006.00. Following the completion of the sale, the director now directly owns 10,579 shares of the company’s stock, valued at $2,010,327.37. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.30% of the company’s stock.

About Everest Re Group

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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