Laurion Capital Management LP bought a new stake in shares of Everest Re Group, Ltd. (NYSE:RE) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 22,909 shares of the insurance provider’s stock, valued at approximately $5,832,000. Laurion Capital Management LP owned 0.06% of Everest Re Group as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Toronto Dominion Bank raised 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. Pacer Advisors Inc. acquired a new position in Everest Re Group during the second quarter worth $160,000. IFP Advisors Inc raised its holdings in Everest Re Group by 29.1% during the second quarter. IFP Advisors Inc now owns 657 shares of the insurance provider’s stock worth $167,000 after buying an additional 148 shares during the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in Everest Re Group during the first quarter worth $200,000. Finally, Tokio Marine Asset Management Co. Ltd. acquired a new position in Everest Re Group during the first quarter worth $204,000. Hedge funds and other institutional investors own 92.39% of the company’s stock.
Shares of Everest Re Group, Ltd. (RE) traded up 1.03% during mid-day trading on Friday, hitting $231.66. 540,138 shares of the stock traded hands. The company’s 50-day moving average price is $253.26 and its 200 day moving average price is $248.64. Everest Re Group, Ltd. has a 1-year low of $183.04 and a 1-year high of $277.17. The company has a market capitalization of $9.51 billion, a PE ratio of 7.95 and a beta of 0.64.
Everest Re Group (NYSE:RE) last posted its quarterly earnings results on Monday, July 24th. The insurance provider reported $5.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.24 by $0.27. The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.46 billion. Everest Re Group had a return on equity of 13.60% and a net margin of 19.65%. During the same quarter in the previous year, the firm earned $3.17 EPS. Equities research analysts forecast that Everest Re Group, Ltd. will post $20.42 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, September 6th will be given 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 is presently 17.15%.
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Several research firms have weighed in on RE. BidaskClub upgraded shares of Everest Re Group from a “hold” rating to a “buy” rating in a report on Wednesday, July 5th. ValuEngine upgraded shares of Everest Re Group from a “buy” rating to a “strong-buy” rating in a report on Friday, June 2nd. Zacks Investment Research downgraded shares of Everest Re Group from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. 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, Barclays PLC upped 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. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $250.78.
Everest Re Group Company Profile
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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