CIBC World Markets Inc. purchased a new stake in shares of Everest Re Group, Ltd. (NYSE:RE) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 9,325 shares of the insurance provider’s stock, valued at approximately $2,374,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RE. Toronto Dominion Bank increased its holdings in Everest Re Group by 23.1% during the first quarter. Toronto Dominion Bank now owns 447 shares of the insurance provider’s stock worth $104,000 after buying an additional 84 shares during the last quarter. IFP Advisors Inc increased its holdings in Everest Re Group by 1.6% during the first quarter. IFP Advisors Inc now owns 509 shares of the insurance provider’s stock worth $119,000 after buying an additional 8 shares during the last quarter. Assetmark Inc. purchased a new stake in Everest Re Group during the first quarter worth about $142,000. Pacer Advisors Inc. purchased a new stake in Everest Re Group during the second quarter worth about $160,000. Finally, Sawtooth Solutions LLC purchased a new stake in Everest Re Group during the second quarter worth about $205,000. 92.39% of the stock is currently owned by institutional investors.
Everest Re Group, Ltd. (NYSE:RE) opened at 231.96 on Tuesday. Everest Re Group, Ltd. has a 1-year low of $183.04 and a 1-year high of $277.17. The stock has a 50 day moving average of $257.71 and a 200 day moving average of $249.04. The stock has a market cap of $9.52 billion, a P/E ratio of 7.96 and a beta of 0.64.
Everest Re Group (NYSE:RE) last issued its quarterly earnings data on Monday, July 24th. The insurance provider reported $5.51 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $5.24 by $0.27. Everest Re Group had a net margin of 19.65% and a return on equity of 13.60%. The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the prior year, the business earned $3.17 EPS. Equities analysts anticipate that Everest Re Group, Ltd. will post $21.25 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, September 6th will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.16%. The ex-dividend date is Friday, September 1st. Everest Re Group’s dividend payout ratio (DPR) is presently 17.15%.
A number of analysts recently issued reports on the stock. Wells Fargo & Company restated a “hold” rating on shares of Everest Re Group in a report on Monday, July 24th. Barclays PLC raised their price objective on shares of Everest Re Group from $299.00 to $305.00 and gave the stock an “overweight” rating in a report on Friday, August 11th. Zacks Investment Research downgraded shares of Everest Re Group from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. UBS AG restated a “neutral” rating and set a $256.00 price objective (up previously from $251.00) on shares of Everest Re Group in a report on Tuesday, August 1st. Finally, BidaskClub upgraded shares of Everest Re Group from a “hold” rating to a “buy” rating in a report on Wednesday, July 5th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. Everest Re Group presently has an average rating of “Hold” and an average price target of $250.78.
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About Everest Re Group
Everest Re Group, Ltd., through its subsidiaries, is engaged in the underwriting of reinsurance and insurance in the United States, Bermuda and international markets. The Company operates in segments: U.S. Reinsurance, International, Bermuda and Insurance segment. The Company underwrites reinsurance both through brokers and directly with ceding companies.
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