Parallel Advisors LLC Has $221,000 Position in Everest Re Group Ltd (NYSE:RE)

Parallel Advisors LLC lessened its position in shares of Everest Re Group Ltd (NYSE:RE) by 5.8% in the third quarter, according to its most recent filing with the SEC. The firm owned 830 shares of the insurance provider’s stock after selling 51 shares during the quarter. Parallel Advisors LLC’s holdings in Everest Re Group were worth $221,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Everest Re Group by 0.8% during the 2nd quarter. Vanguard Group Inc. now owns 4,402,694 shares of the insurance provider’s stock valued at $1,088,258,000 after purchasing an additional 36,288 shares during the period. BlackRock Inc. increased its position in Everest Re Group by 16.3% during the 2nd quarter. BlackRock Inc. now owns 3,965,427 shares of the insurance provider’s stock valued at $980,173,000 after purchasing an additional 555,838 shares during the period. AQR Capital Management LLC increased its position in Everest Re Group by 2.0% during the 2nd quarter. AQR Capital Management LLC now owns 1,272,631 shares of the insurance provider’s stock valued at $312,571,000 after purchasing an additional 24,532 shares during the period. Invesco Ltd. increased its position in Everest Re Group by 122.1% during the 2nd quarter. Invesco Ltd. now owns 730,130 shares of the insurance provider’s stock valued at $180,473,000 after purchasing an additional 401,412 shares during the period. Finally, Northern Trust Corp increased its position in Everest Re Group by 0.6% during the 2nd quarter. Northern Trust Corp now owns 503,334 shares of the insurance provider’s stock valued at $124,414,000 after purchasing an additional 2,859 shares during the period. 91.79% of the stock is owned by institutional investors and hedge funds.

RE has been the subject of a number of recent analyst reports. Morgan Stanley decreased their target price on shares of Everest Re Group from $265.00 to $260.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Barclays set a $300.00 target price on shares of Everest Re Group and gave the company a “buy” rating in a research report on Monday, August 12th. Credit Suisse Group set a $256.00 target price on shares of Everest Re Group and gave the company a “hold” rating in a research report on Sunday, September 15th. ValuEngine downgraded shares of Everest Re Group from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Wells Fargo & Co reissued a “hold” rating and set a $250.00 target price on shares of Everest Re Group in a research report on Monday, October 28th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $261.67.

In other Everest Re Group news, CEO John P. Doucette sold 5,000 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $251.97, for a total transaction of $1,259,850.00. Following the transaction, the chief executive officer now directly owns 22,747 shares in the company, valued at approximately $5,731,561.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.40% of the stock is currently owned by corporate insiders.

Shares of Everest Re Group stock traded up $1.76 on Friday, reaching $265.35. 187,091 shares of the company’s stock were exchanged, compared to its average volume of 294,243. The company has a market capitalization of $10.56 billion, a P/E ratio of 57.06, a price-to-earnings-growth ratio of 1.15 and a beta of 0.24. Everest Re Group Ltd has a 52 week low of $201.09 and a 52 week high of $268.95. The firm’s 50-day moving average is $256.82 and its two-hundred day moving average is $250.41. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.37 and a current ratio of 0.32.

Everest Re Group (NYSE:RE) last posted its quarterly earnings results on Monday, October 28th. The insurance provider reported $3.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.07 by $1.32. The firm had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Everest Re Group had a return on equity of 5.90% and a net margin of 5.30%. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the prior year, the business earned $4.09 EPS. On average, analysts expect that Everest Re Group Ltd will post 22.6 EPS for the current fiscal year.

Everest Re Group Profile

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.

Further Reading: Consumer Price Index (CPI)

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

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