Schwab Charles Investment Management Inc. raised its position in shares of Everest Re Group Ltd (NYSE:RE) by 6.1% in the 2nd quarter, HoldingsChannel reports. The firm owned 235,329 shares of the insurance provider’s stock after acquiring an additional 13,472 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Everest Re Group were worth $54,239,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in RE. FDx Advisors Inc. increased its position in Everest Re Group by 25.4% during the 1st quarter. FDx Advisors Inc. now owns 2,235 shares of the insurance provider’s stock worth $574,000 after purchasing an additional 452 shares in the last quarter. Dupont Capital Management Corp increased its position in Everest Re Group by 40.0% during the 1st quarter. Dupont Capital Management Corp now owns 3,851 shares of the insurance provider’s stock worth $989,000 after purchasing an additional 1,100 shares in the last quarter. Fulton Bank N.A. purchased a new stake in Everest Re Group during the 1st quarter worth about $259,000. Alps Advisors Inc. increased its position in Everest Re Group by 583.5% during the 1st quarter. Alps Advisors Inc. now owns 7,293 shares of the insurance provider’s stock worth $1,873,000 after purchasing an additional 6,226 shares in the last quarter. Finally, Klingenstein Fields & Co. LLC purchased a new stake in Everest Re Group during the 1st quarter worth about $218,000. Institutional investors and hedge funds own 92.91% of the company’s stock.
Everest Re Group stock opened at $220.85 on Monday. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.35 and a quick ratio of 0.35. Everest Re Group Ltd has a 52 week low of $208.81 and a 52 week high of $264.88. The stock has a market cap of $9.02 billion, a P/E ratio of 24.27, a P/E/G ratio of 1.28 and a beta of 0.41.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 19th. Shareholders of record on Wednesday, September 5th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date is Tuesday, September 4th. Everest Re Group’s payout ratio is 57.14%.
In other Everest Re Group news, CEO John P. Doucette sold 900 shares of the firm’s stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $215.32, for a total value of $193,788.00. Following the sale, the chief executive officer now directly owns 22,620 shares of the company’s stock, valued at approximately $4,870,538.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.30% of the stock is currently owned by company insiders.
A number of analysts recently commented on RE shares. Morgan Stanley dropped their price objective on Everest Re Group from $258.00 to $243.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 14th. Goldman Sachs Group started coverage on Everest Re Group in a research report on Monday, June 18th. They set a “buy” rating and a $280.00 price objective for the company. Zacks Investment Research upgraded Everest Re Group from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 2nd. ValuEngine cut Everest Re Group from a “hold” rating to a “sell” rating in a research report on Tuesday, July 24th. Finally, Wells Fargo & Co reiterated a “hold” rating and set a $240.00 price objective on shares of Everest Re Group in a research report on Thursday, July 19th. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $255.00.
Everest Re Group Company Profile
Everest Re Group, Ltd., through its subsidiaries, provides reinsurance and insurance products. The company operates through the U.S. Reinsurance, International, Bermuda, and Insurance segments. The U.S. Reinsurance segment writes property and casualty reinsurance; and specialty lines of business, including marine, aviation, surety, and accident and health insurance through reinsurance brokers, as well as directly with ceding companies in the Unites States.
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