Everest Re Group Ltd. (NYSE:RE) announced a quarterly dividend on Wednesday, November 16th. Investors of record on Wednesday, November 30th will be given a dividend of 1.25 per share on Wednesday, December 14th. This represents a $5.00 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend is Monday, November 28th. This is a boost from Everest Re Group’s previous quarterly dividend of $1.15.
Shares of Everest Re Group (NYSE:RE) opened at 209.15 on Friday. The company’s 50-day moving average is $202.62 and its 200-day moving average is $189.02. Everest Re Group has a 12-month low of $167.07 and a 12-month high of $214.86. The stock 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 issued its earnings results on Monday, October 24th. The company reported $6.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.24 by $3.29. The company had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Everest Re Group had a net margin of 17.07% and a return on equity of 12.50%. The firm’s revenue was up 13.4% compared to the same quarter last year. During the same period in the prior year, the company earned $4.53 earnings per share. On average, analysts expect that Everest Re Group will post $18.04 earnings per share for the current fiscal year.
In related 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 value of $38,006.00. Following the sale, the director now owns 10,579 shares of the company’s stock, valued at approximately $2,010,327.37. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Pacer Advisors Inc. boosted its position in Everest Re Group by 5.6% in the second quarter. Pacer Advisors Inc. now owns 568 shares of the company’s stock valued at $104,000 after buying an additional 30 shares during the last quarter. Trexquant Investment LP bought a new position in Everest Re Group during the second quarter valued at approximately $201,000. Advisor Group Inc. bought a new position in Everest Re Group during the second quarter valued at approximately $213,000. Advisor Partners LLC boosted its position in Everest Re Group by 0.9% in the second quarter. Advisor Partners LLC now owns 1,284 shares of the company’s stock valued at $235,000 after buying an additional 12 shares during the last quarter. Finally, Reliance Trust Co. of Delaware boosted its position in Everest Re Group by 19.0% in the second quarter. Reliance Trust Co. of Delaware now owns 1,387 shares of the company’s stock valued at $253,000 after buying an additional 221 shares during the last quarter. 92.81% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have weighed in on RE. Goldman Sachs Group Inc. raised shares of Everest Re Group from a “sell” rating to a “neutral” rating and increased their target price for the stock from $166.00 to $195.00 in a report on Tuesday, November 15th. Zacks Investment Research raised shares of Everest Re Group from a “hold” rating to a “buy” rating and set a $214.00 target price on the stock in a report on Tuesday, September 27th. Finally, Barclays PLC increased their target price on shares of Everest Re Group from $215.00 to $220.00 and gave the stock an “overweight” rating in a report on Tuesday, October 25th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $215.20.
Everest Re Group Company Profile