Connor Clark & Lunn Investment Management Ltd. Takes $222,000 Position in Everest Re Group, Ltd. (NYSE:RE)

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Everest Re Group, Ltd. (NYSE:REGet Rating) in the first quarter, HoldingsChannel.com reports. The institutional investor acquired 737 shares of the insurance provider’s stock, valued at approximately $222,000.

A number of other institutional investors have also modified their holdings of RE. Advisor Group Holdings Inc. grew its holdings in shares of Everest Re Group by 6.3% during the 4th quarter. Advisor Group Holdings Inc. now owns 1,980 shares of the insurance provider’s stock worth $543,000 after purchasing an additional 117 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Everest Re Group during the 4th quarter worth about $344,000. First Horizon Advisors Inc. grew its holdings in shares of Everest Re Group by 340.7% during the 4th quarter. First Horizon Advisors Inc. now owns 357 shares of the insurance provider’s stock worth $97,000 after purchasing an additional 276 shares during the period. BNP Paribas Arbitrage SA grew its holdings in shares of Everest Re Group by 4.3% during the 4th quarter. BNP Paribas Arbitrage SA now owns 34,447 shares of the insurance provider’s stock worth $9,436,000 after purchasing an additional 1,430 shares during the period. Finally, Fuller & Thaler Asset Management Inc. grew its holdings in shares of Everest Re Group by 6.8% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 9,410 shares of the insurance provider’s stock worth $2,578,000 after purchasing an additional 600 shares during the period. Hedge funds and other institutional investors own 92.35% of the company’s stock.

Everest Re Group Stock Up 0.6 %

NYSE RE opened at $274.01 on Tuesday. The stock has a market cap of $10.80 billion, a PE ratio of 13.89, a P/E/G ratio of 0.76 and a beta of 0.52. Everest Re Group, Ltd. has a fifty-two week low of $248.63 and a fifty-two week high of $308.20. The business has a 50 day moving average price of $271.56 and a two-hundred day moving average price of $280.69. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.35.

Everest Re Group (NYSE:REGet Rating) last released its earnings results on Wednesday, July 27th. The insurance provider reported $9.79 EPS for the quarter, beating the consensus estimate of $9.31 by $0.48. The company had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $3.01 billion. Everest Re Group had a return on equity of 11.41% and a net margin of 6.61%. The business’s revenue was up 14.0% on a year-over-year basis. During the same period in the prior year, the business posted $14.63 EPS. As a group, sell-side analysts predict that Everest Re Group, Ltd. will post 33.25 EPS for the current fiscal year.

Everest Re Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 9th. Stockholders of record on Wednesday, August 24th will be paid a dividend of $1.65 per share. This represents a $6.60 annualized dividend and a dividend yield of 2.41%. The ex-dividend date is Tuesday, August 23rd. Everest Re Group’s dividend payout ratio (DPR) is currently 0.20%.

Wall Street Analyst Weigh In

RE has been the subject of a number of analyst reports. Jefferies Financial Group upped their price target on Everest Re Group from $343.00 to $344.00 and gave the stock a “buy” rating in a report on Tuesday, July 12th. Morgan Stanley decreased their price target on Everest Re Group from $340.00 to $320.00 and set an “overweight” rating for the company in a report on Friday, August 19th. Finally, StockNews.com upgraded Everest Re Group from a “hold” rating to a “buy” rating in a report on Saturday, July 23rd.

Insider Activity

In related news, Director John A. Weber sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $270.92, for a total transaction of $812,760.00. Following the sale, the director now directly owns 3,096 shares of the company’s stock, valued at approximately $838,768.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.40% of the company’s stock.

Everest Re Group Company Profile

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Everest Re Group, Ltd., through its subsidiaries, provides reinsurance and insurance products in the United States, Bermuda, and internationally. The company operates through Reinsurance Operations and Insurance Operations segments. The Reinsurance Operations segment writes property and casualty reinsurance; and specialty lines of business through reinsurance brokers, as well as directly with ceding companies in the United States, Bermuda, Ireland, Canada, Singapore, Switzerland, and the United Kingdom.

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

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