Oregon Public Employees Retirement Fund lowered its position in Everest Re Group Ltd. (NYSE:RE) by 3.8% during the third quarter, Holdings Channel reports. The institutional investor owned 19,213 shares of the company’s stock after selling 764 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Everest Re Group were worth $3,650,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently added to or reduced their stakes in RE. Global X Management Co. LLC raised its stake in shares of Everest Re Group by 177.7% in the second quarter. Global X Management Co. LLC now owns 561 shares of the company’s stock worth $102,000 after buying an additional 359 shares during the last quarter. Pacer Advisors Inc. raised its stake in shares of Everest Re Group by 5.6% in the second quarter. Pacer Advisors Inc. now owns 568 shares of the company’s stock worth $104,000 after buying an additional 30 shares during the last quarter. Checchi Capital Advisers LLC raised its stake in shares of Everest Re Group by 3.5% in the second quarter. Checchi Capital Advisers LLC now owns 619 shares of the company’s stock worth $113,000 after buying an additional 21 shares during the last quarter. Hussman Strategic Advisors Inc. bought a new stake in shares of Everest Re Group during the second quarter worth $128,000. Finally, MU Investments Co. Ltd. bought a new stake in shares of Everest Re Group during the second quarter worth $165,000. 92.81% of the stock is owned by hedge funds and other institutional investors.
Everest Re Group Ltd. (NYSE:RE) traded down 0.25% during midday trading on Friday, hitting $209.15. 136,721 shares of the stock traded hands. The company’s 50-day moving average is $202.62 and its 200 day moving average is $189.02. Everest Re Group Ltd. has a 12-month low of $167.07 and a 12-month high of $214.86. The firm has a market cap of $8.55 billion, a P/E ratio of 9.09 and a beta of 0.48.
Everest Re Group (NYSE:RE) last announced its earnings results on Monday, October 24th. The company reported $6.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.24 by $3.29. The company earned $1.51 billion during the quarter, compared to analyst estimates of $1.32 billion. Everest Re Group had a net margin of 17.07% and a return on equity of 12.50%. Everest Re Group’s revenue was up 13.4% compared to the same quarter last year. During the same quarter last year, the firm posted $4.53 earnings per share. On average, analysts anticipate that Everest Re Group Ltd. will post $18.04 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 14th. Shareholders of record on Wednesday, November 30th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.39%. The ex-dividend date is Monday, November 28th. This is a positive change from Everest Re Group’s previous quarterly dividend of $1.15. Everest Re Group’s dividend payout ratio (DPR) is 20.01%.
Several equities research analysts have recently commented on RE shares. Zacks Investment Research upgraded shares of Everest Re Group from a “hold” rating to a “buy” rating and set a $238.00 price target for the company in a report on Friday, November 18th. Goldman Sachs Group Inc. upgraded shares of Everest Re Group from a “sell” rating to a “neutral” rating and boosted their price target for the company from $166.00 to $195.00 in a report on Tuesday, November 15th. Finally, Barclays PLC boosted their price target on shares of Everest Re Group from $215.00 to $220.00 and gave the company an “overweight” rating in a report on Tuesday, October 25th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $215.20.
In other Everest Re Group news, Director John R. Dunne sold 200 shares of the stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $190.03, for a total transaction of $38,006.00. Following the completion of the transaction, the director now 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 is available at this link. Company 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.