NumerixS Investment Technologies Inc Lowers Stake in Everest Re Group Ltd (NYSE:RE)

NumerixS Investment Technologies Inc reduced its stake in shares of Everest Re Group Ltd (NYSE:RE) by 50.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 600 shares of the insurance provider’s stock after selling 600 shares during the period. NumerixS Investment Technologies Inc’s holdings in Everest Re Group were worth $130,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund increased its holdings in Everest Re Group by 0.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 10,447 shares of the insurance provider’s stock valued at $2,256,000 after buying an additional 42 shares in the last quarter. Piedmont Investment Advisors Inc. increased its stake in shares of Everest Re Group by 2.4% during the first quarter. Piedmont Investment Advisors Inc. now owns 1,803 shares of the insurance provider’s stock worth $389,000 after purchasing an additional 43 shares in the last quarter. ETF Managers Group LLC increased its stake in shares of Everest Re Group by 9.3% during the first quarter. ETF Managers Group LLC now owns 566 shares of the insurance provider’s stock worth $122,000 after purchasing an additional 48 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in shares of Everest Re Group by 1.3% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 3,909 shares of the insurance provider’s stock worth $851,000 after purchasing an additional 51 shares in the last quarter. Finally, Nissay Asset Management Corp Japan ADV increased its stake in shares of Everest Re Group by 1.5% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 3,711 shares of the insurance provider’s stock worth $808,000 after purchasing an additional 54 shares in the last quarter. Institutional investors and hedge funds own 91.31% of the company’s stock.

In related news, Director John A. Weber sold 500 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $246.46, for a total transaction of $123,230.00. Following the completion of the sale, the director now owns 6,499 shares of the company’s stock, valued at approximately $1,601,743.54. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Jonathan Zaffino sold 1,048 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $248.01, for a total transaction of $259,914.48. Following the sale, the senior vice president now directly owns 9,617 shares of the company’s stock, valued at approximately $2,385,112.17. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by corporate insiders.

A number of analysts have recently commented on RE shares. ValuEngine raised shares of Everest Re Group from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Deutsche Bank cut shares of Everest Re Group from a “buy” rating to a “hold” rating in a research note on Thursday, March 28th. Barclays boosted their target price on shares of Everest Re Group from $260.00 to $285.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 22nd. Morgan Stanley boosted their target price on shares of Everest Re Group from $232.00 to $248.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 15th. Finally, Zacks Investment Research cut shares of Everest Re Group from a “buy” rating to a “hold” rating in a research note on Wednesday, May 15th. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Everest Re Group has an average rating of “Hold” and an average price target of $253.20.

Shares of NYSE RE opened at $250.11 on Friday. Everest Re Group Ltd has a 12-month low of $201.09 and a 12-month high of $254.57. The stock has a market cap of $10.19 billion, a P/E ratio of 53.79, a price-to-earnings-growth ratio of 1.03 and a beta of 0.28. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.37 and a quick ratio of 0.37.

Everest Re Group (NYSE:RE) last announced its quarterly earnings data on Monday, May 6th. The insurance provider reported $6.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.91 by $1.00. Everest Re Group had a net margin of 3.19% and a return on equity of 3.08%. The company had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter in the prior year, the company earned $5.34 EPS. Everest Re Group’s revenue was up 12.3% compared to the same quarter last year. As a group, equities analysts forecast that Everest Re Group Ltd will post 24.3 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Wednesday, May 29th were paid a dividend of $1.40 per share. The ex-dividend date was Tuesday, May 28th. This represents a $5.60 annualized dividend and a yield of 2.24%. Everest Re Group’s dividend payout ratio is presently 120.43%.

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About Everest Re Group

Everest Re Group, Ltd., through its subsidiaries, provides reinsurance and insurance products in the United States, Bermuda, and internationally. The company operates through four segments: U.S. Reinsurance, International, Bermuda, and Insurance. 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 United States.

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

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