Legacy Private Trust Co. trimmed its position in Everest Re Group Ltd (NYSE:RE) by 8.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 2,563 shares of the insurance provider’s stock after selling 237 shares during the period. Legacy Private Trust Co.’s holdings in Everest Re Group were worth $682,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Oakworth Capital Inc. bought a new position in shares of Everest Re Group in the 2nd quarter valued at $34,000. Point72 Hong Kong Ltd acquired a new stake in Everest Re Group in the second quarter valued at $44,000. CSat Investment Advisory L.P. increased its holdings in Everest Re Group by 31.6% in the second quarter. CSat Investment Advisory L.P. now owns 200 shares of the insurance provider’s stock valued at $50,000 after purchasing an additional 48 shares during the period. Advisory Services Network LLC acquired a new stake in Everest Re Group in the second quarter valued at $51,000. Finally, Ossiam acquired a new stake in Everest Re Group in the second quarter valued at $53,000. Institutional investors own 91.76% of the company’s stock.
A number of analysts recently weighed in on the company. Morgan Stanley decreased their price objective on Everest Re Group from $265.00 to $260.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. UBS Group increased their price objective on Everest Re Group from $252.00 to $257.00 and gave the company a “neutral” rating in a report on Wednesday, July 10th. ValuEngine downgraded Everest Re Group from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Barclays set a $300.00 price objective on Everest Re Group and gave the company a “buy” rating in a report on Monday, August 12th. Finally, Credit Suisse Group set a $256.00 price objective on Everest Re Group and gave the company a “hold” rating in a report on Sunday, September 15th. Eight equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $254.57.
Everest Re Group (NYSE:RE) last issued its quarterly earnings results on Monday, July 29th. The insurance provider reported $7.85 earnings per share for the quarter, topping the Zacks’ consensus estimate of $6.66 by $1.19. Everest Re Group had a return on equity of 6.37% and a net margin of 6.67%. The firm had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same period last year, the business posted $0.98 EPS. The business’s revenue was up 6.7% compared to the same quarter last year. Analysts anticipate that Everest Re Group Ltd will post 24.86 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th were given a dividend of $1.40 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.23%. Everest Re Group’s dividend payout ratio (DPR) is presently 120.43%.
In other news, CEO John P. Doucette sold 5,000 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $251.97, for a total transaction of $1,259,850.00. Following the transaction, the chief executive officer now owns 22,747 shares of the company’s stock, valued at approximately $5,731,561.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Meryl D. Hartzband acquired 500 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were bought at an average cost of $242.31 per share, for a total transaction of $121,155.00. Following the transaction, the director now directly owns 9,570 shares in the company, valued at $2,318,906.70. The disclosure for this purchase can be found here. 1.40% of the stock is owned by corporate insiders.
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.
Further Reading: Basic Economics
Receive News & Ratings for Everest Re Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Everest Re Group and related companies with MarketBeat.com's FREE daily email newsletter.