Everest Re Group, Ltd. (NYSE:RE) Shares Sold by Pictet Asset Management SA

Pictet Asset Management SA trimmed its holdings in Everest Re Group, Ltd. (NYSE:REGet Rating) by 8.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,146 shares of the insurance provider’s stock after selling 1,665 shares during the quarter. Pictet Asset Management SA’s holdings in Everest Re Group were worth $4,806,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. First Horizon Advisors Inc. raised its holdings in Everest Re Group by 71.2% during the 2nd quarter. First Horizon Advisors Inc. now owns 113 shares of the insurance provider’s stock worth $31,000 after buying an additional 47 shares during the period. CX Institutional acquired a new stake in Everest Re Group during the 2nd quarter worth about $32,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. raised its holdings in Everest Re Group by 500.0% during the 1st quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. now owns 120 shares of the insurance provider’s stock worth $36,000 after buying an additional 100 shares during the period. Heritage Wealth Advisors acquired a new stake in Everest Re Group during the 2nd quarter worth about $36,000. Finally, Parkside Financial Bank & Trust raised its holdings in Everest Re Group by 581.0% during the 1st quarter. Parkside Financial Bank & Trust now owns 143 shares of the insurance provider’s stock worth $43,000 after buying an additional 122 shares during the period. 92.35% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on RE shares. Morgan Stanley downgraded Everest Re Group from an “overweight” rating to an “equal weight” rating and set a $320.00 price objective on the stock. in a report on Tuesday, November 8th. StockNews.com downgraded Everest Re Group from a “buy” rating to a “hold” rating in a report on Friday, November 4th. Finally, Wells Fargo & Company upped their target price on Everest Re Group from $322.00 to $333.00 and gave the company an “overweight” rating in a report on Friday, October 28th.

Everest Re Group Price Performance

Shares of RE opened at $323.49 on Friday. The company has a market capitalization of $12.67 billion, a price-to-earnings ratio of 24.16, a P/E/G ratio of 1.01 and a beta of 0.59. Everest Re Group, Ltd. has a fifty-two week low of $244.57 and a fifty-two week high of $337.50. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.31 and a quick ratio of 0.31. The business’s 50-day moving average is $287.77 and its 200-day moving average is $279.23.

Everest Re Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Wednesday, November 23rd will be issued a $1.65 dividend. The ex-dividend date is Tuesday, November 22nd. This represents a $6.60 dividend on an annualized basis and a dividend yield of 2.04%. Everest Re Group’s dividend payout ratio is 0.30%.

Insider Buying and Selling

In related news, Director John A. Weber sold 1,335 shares of the stock in a transaction that occurred on Wednesday, November 2nd. The stock was sold at an average price of $322.03, for a total value of $429,910.05. Following the transaction, the director now owns 6,409 shares in the company, valued at $2,063,890.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director John A. Weber sold 2,391 shares of the stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $323.00, for a total value of $772,293.00. Following the transaction, the director now owns 7,744 shares in the company, valued at $2,501,312. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John A. Weber sold 1,335 shares of the stock in a transaction that occurred on Wednesday, November 2nd. The stock was sold at an average price of $322.03, for a total value of $429,910.05. Following the completion of the transaction, the director now owns 6,409 shares in the company, valued at approximately $2,063,890.27. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by corporate insiders.

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.

Further Reading

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

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