Hancock Whitney Corp boosted its stake in shares of Everest Re Group Ltd (NYSE:RE) by 988.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 55,393 shares of the insurance provider’s stock after buying an additional 50,305 shares during the quarter. Hancock Whitney Corp owned 0.11% of Everest Re Group worth $11,963,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. Somerset Trust Co increased its position in shares of Everest Re Group by 190.5% in the first quarter. Somerset Trust Co now owns 122 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 80 shares in the last quarter. Stamos Capital Partners L.P. acquired a new stake in shares of Everest Re Group in the fourth quarter worth $28,000. Penserra Capital Management LLC acquired a new stake in shares of Everest Re Group in the fourth quarter worth $30,000. Quadrant Capital Group LLC increased its position in shares of Everest Re Group by 215.2% in the first quarter. Quadrant Capital Group LLC now owns 312 shares of the insurance provider’s stock worth $64,000 after acquiring an additional 213 shares in the last quarter. Finally, Advisor Group Inc. increased its position in shares of Everest Re Group by 16.4% in the fourth quarter. Advisor Group Inc. now owns 512 shares of the insurance provider’s stock worth $111,000 after acquiring an additional 72 shares in the last quarter. Institutional investors and hedge funds own 91.28% of the company’s stock.
In related news, SVP Jonathan Zaffino sold 1,048 shares of Everest Re Group stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $248.01, for a total value of $259,914.48. Following the sale, the senior vice president now directly owns 9,617 shares in the company, valued at approximately $2,385,112.17. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John A. Weber sold 500 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $246.46, for a total transaction of $123,230.00. Following the sale, the director now owns 6,499 shares in the company, valued at $1,601,743.54. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.
Shares of Everest Re Group stock traded up $3.30 during trading hours on Monday, reaching $250.48. The company’s stock had a trading volume of 335,500 shares, compared to its average volume of 304,798. The business’s 50 day moving average price is $249.39. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.08. Everest Re Group Ltd has a one year low of $201.09 and a one year high of $254.57. The stock has a market capitalization of $10.07 billion, a PE ratio of 53.87, a P/E/G ratio of 1.02 and a beta of 0.26.
Everest Re Group (NYSE:RE) last posted its quarterly earnings results on Monday, May 6th. The insurance provider reported $6.91 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $5.91 by $1.00. Everest Re Group had a net margin of 3.19% and a return on equity of 3.08%. The company had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same period last year, the firm posted $5.34 EPS. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. Analysts expect that Everest Re Group Ltd will post 24.3 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Wednesday, May 29th were given a $1.40 dividend. The ex-dividend date was Tuesday, May 28th. This represents a $5.60 annualized dividend and a yield of 2.24%. Everest Re Group’s dividend payout ratio is presently 120.43%.
Everest Re Group Profile
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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