Bartlett & Co. LLC decreased its stake in shares of Everest Re Group, Ltd. (NYSE:RE – Get Rating) by 3.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,787 shares of the insurance provider’s stock after selling 68 shares during the quarter. Bartlett & Co. LLC’s holdings in Everest Re Group were worth $592,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. FinTrust Capital Advisors LLC increased its position in shares of Everest Re Group by 248.1% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 94 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 67 shares during the last quarter. Benjamin F. Edwards & Company Inc. acquired a new position in shares of Everest Re Group during the 3rd quarter worth approximately $26,000. Heritage Wealth Management LLC acquired a new position in shares of Everest Re Group during the 2nd quarter worth approximately $42,000. Parkside Financial Bank & Trust increased its holdings in shares of 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 acquiring an additional 122 shares during the last quarter. Finally, Contravisory Investment Management Inc. acquired a new position in shares of Everest Re Group during the 3rd quarter worth approximately $60,000. Institutional investors and hedge funds own 92.38% of the company’s stock.
Wall Street Analyst Weigh In
RE has been the subject of several recent research reports. BMO Capital Markets initiated coverage on Everest Re Group in a research note on Thursday, January 19th. They issued a “market perform” rating and a $380.00 price target for the company. Morgan Stanley boosted their price target on Everest Re Group from $320.00 to $345.00 and gave the company an “overweight” rating in a research note on Tuesday, November 22nd. StockNews.com started coverage on Everest Re Group in a research report on Thursday. They set a “buy” rating for the company. Wells Fargo & Company upped their target price on Everest Re Group from $408.00 to $426.00 and gave the company an “overweight” rating in a research report on Friday, February 10th. Finally, Raymond James upped their target price on Everest Re Group from $385.00 to $415.00 and gave the company an “outperform” rating in a research report on Monday, February 13th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Everest Re Group currently has an average rating of “Moderate Buy” and an average target price of $382.00.
Everest Re Group Price Performance
Everest Re Group (NYSE:RE – Get Rating) last issued its earnings results on Wednesday, February 8th. The insurance provider reported $12.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.29 by $2.92. The business had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.24 billion. Everest Re Group had a return on equity of 12.36% and a net margin of 4.96%. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $9.12 EPS. On average, sell-side analysts forecast that Everest Re Group, Ltd. will post 45.63 EPS for the current fiscal year.
Everest Re Group Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 30th. Stockholders of record on Thursday, March 16th will be paid a $1.65 dividend. The ex-dividend date of this dividend is Wednesday, March 15th. This represents a $6.60 annualized dividend and a dividend yield of 1.98%. Everest Re Group’s payout ratio is 43.68%.
Everest Re Group Profile
Everest Re Group Ltd. is a holding company, which engages in the provision of reinsurance and insurance services. It operates through the following segments: Reinsurance, and Insurance. The Reinsurance segment writes property and casualty reinsurance and specialty lines of business, including marine, aviation, surety, and accident and health business, on both a treaty and facultative basis, through reinsurance brokers, as well as directly with ceding companies primarily within the U.S.
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