Everest Re Group Ltd (NYSE:RE) Shares Bought by Martingale Asset Management L P

Martingale Asset Management L P raised its holdings in shares of Everest Re Group Ltd (NYSE:RE) by 12.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 145,614 shares of the insurance provider’s stock after acquiring an additional 15,601 shares during the quarter. Martingale Asset Management L P owned approximately 0.29% of Everest Re Group worth $31,448,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Oregon Public Employees Retirement Fund increased its stake in Everest Re Group by 0.4% during the first quarter. Oregon Public Employees Retirement Fund now owns 10,447 shares of the insurance provider’s stock worth $2,256,000 after acquiring an additional 42 shares during the last quarter. Piedmont Investment Advisors Inc. increased its stake in Everest Re Group by 2.4% during the first quarter. Piedmont Investment Advisors Inc. now owns 1,803 shares of the insurance provider’s stock worth $389,000 after acquiring an additional 43 shares during the last quarter. ETF Managers Group LLC increased its stake in Everest Re Group by 9.3% during the first quarter. ETF Managers Group LLC now owns 566 shares of the insurance provider’s stock worth $122,000 after acquiring an additional 48 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in Everest Re Group by 1.3% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 3,909 shares of the insurance provider’s stock worth $851,000 after acquiring an additional 51 shares during the last quarter. Finally, Nissay Asset Management Corp Japan ADV increased its stake in Everest Re Group by 1.5% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 3,711 shares of the insurance provider’s stock worth $808,000 after acquiring an additional 54 shares during the last quarter. 91.31% of the stock is currently owned by institutional investors and hedge funds.

Shares of RE stock traded up $0.94 during mid-day trading on Friday, hitting $251.05. 245,415 shares of the stock were exchanged, compared to its average volume of 397,939. The firm has a market cap of $10.23 billion, a P/E ratio of 53.99, a PEG ratio of 1.03 and a beta of 0.28. Everest Re Group Ltd has a 52-week low of $201.09 and a 52-week high of $254.57. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.08.

Everest Re Group (NYSE:RE) last issued its quarterly earnings results on Monday, May 6th. The insurance provider reported $6.91 earnings per share for the quarter, beating the Zacks’ consensus estimate of $5.91 by $1.00. The firm had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.82 billion. Everest Re Group had a net margin of 3.19% and a return on equity of 3.08%. Everest Re Group’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same period last year, the company posted $5.34 EPS. On average, analysts anticipate that Everest Re Group Ltd will post 24.3 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Wednesday, May 29th were issued a $1.40 dividend. The ex-dividend date of this dividend was Tuesday, May 28th. This represents a $5.60 dividend on an annualized basis and a yield of 2.23%. Everest Re Group’s payout ratio is 120.43%.

In other news, Director John A. Weber sold 500 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $246.46, for a total transaction of $123,230.00. Following the completion of the sale, the director now owns 6,499 shares in the company, valued at approximately $1,601,743.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jonathan Zaffino sold 1,048 shares of Everest Re Group stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $248.01, for a total transaction of $259,914.48. Following the completion of the sale, the senior vice president now owns 9,617 shares of the company’s stock, valued at approximately $2,385,112.17. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by corporate insiders.

A number of analysts recently issued reports on RE shares. Barclays boosted their price target on Everest Re Group from $260.00 to $285.00 and gave the company an “overweight” rating in a report on Wednesday, May 22nd. Morgan Stanley boosted their price target on Everest Re Group from $232.00 to $248.00 and gave the company an “equal weight” rating in a report on Wednesday, May 15th. Deutsche Bank lowered Everest Re Group from a “buy” rating to a “hold” rating in a report on Thursday, March 28th. Zacks Investment Research lowered Everest Re Group from a “buy” rating to a “hold” rating in a report on Wednesday, May 15th. Finally, ValuEngine upgraded Everest Re Group from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $253.20.

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About Everest Re Group

Everest Re Group, Ltd., through its subsidiaries, provides reinsurance and insurance products in the United States, Bermuda, and internationally. The company operates through four segments: U.S. Reinsurance, International, Bermuda, and Insurance. 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 United States.

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

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