Amalgamated Bank Sells 499 Shares of Everest Re Group, Ltd. (NYSE:RE)

Amalgamated Bank reduced its holdings in shares of Everest Re Group, Ltd. (NYSE:REGet Rating) by 3.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,338 shares of the insurance provider’s stock after selling 499 shares during the quarter. Amalgamated Bank’s holdings in Everest Re Group were worth $4,020,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of RE. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Everest Re Group during the 4th quarter worth $344,000. Charles Schwab Investment Management Inc. increased its holdings in Everest Re Group by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 292,421 shares of the insurance provider’s stock worth $80,100,000 after purchasing an additional 4,333 shares in the last quarter. O Shaughnessy Asset Management LLC increased its holdings in Everest Re Group by 54.5% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 833 shares of the insurance provider’s stock worth $228,000 after purchasing an additional 294 shares in the last quarter. Invesco Ltd. increased its holdings in Everest Re Group by 5.8% in the 4th quarter. Invesco Ltd. now owns 576,916 shares of the insurance provider’s stock worth $158,028,000 after purchasing an additional 31,404 shares in the last quarter. Finally, Schroder Investment Management Group increased its holdings in Everest Re Group by 16.7% in the 4th quarter. Schroder Investment Management Group now owns 58,097 shares of the insurance provider’s stock worth $15,914,000 after purchasing an additional 8,296 shares in the last quarter. 92.35% of the stock is currently owned by institutional investors.

Insider Activity at Everest Re Group

In related news, Director John A. Weber sold 3,000 shares of the company’s stock in a transaction dated 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 owns 3,096 shares in the company, valued at approximately $838,768.32. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.40% of the stock is owned by corporate insiders.

Everest Re Group Trading Down 3.9 %

Shares of RE stock opened at $260.82 on Thursday. The stock has a market cap of $10.28 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 0.78 and a beta of 0.52. The stock has a 50-day moving average of $270.90 and a 200-day moving average of $278.90. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.35. Everest Re Group, Ltd. has a 1-year low of $248.63 and a 1-year high of $308.20.

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

Everest Re Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Wednesday, August 24th were given a dividend of $1.65 per share. The ex-dividend date was Tuesday, August 23rd. This represents a $6.60 annualized dividend and a dividend yield of 2.53%. Everest Re Group’s payout ratio is 0.20%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on RE. Morgan Stanley lowered their target price 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. Jefferies Financial Group upped their target price on Everest Re Group from $343.00 to $344.00 and gave the stock a “buy” rating in a report on Tuesday, July 12th. Finally, StockNews.com raised Everest Re Group from a “hold” rating to a “buy” rating in a research note on Saturday, July 23rd.

About Everest Re Group

(Get Rating)

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.

Read More

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

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.