Tibra Equities Europe Ltd Acquires New Position in Everest Re Group Ltd (NYSE:RE)

Tibra Equities Europe Ltd acquired a new position in shares of Everest Re Group Ltd (NYSE:RE) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 17,900 shares of the insurance provider’s stock, valued at approximately $3,866,000.

A number of other hedge funds have also recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its holdings in Everest Re Group by 326.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 828,753 shares of the insurance provider’s stock worth $189,345,000 after purchasing an additional 634,401 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in Everest Re Group by 10.2% in the 3rd quarter. Janus Henderson Group PLC now owns 88,256 shares of the insurance provider’s stock worth $20,164,000 after purchasing an additional 8,194 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in Everest Re Group by 4.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 8,381 shares of the insurance provider’s stock worth $1,915,000 after purchasing an additional 354 shares during the last quarter. American International Group Inc. lifted its holdings in Everest Re Group by 5.5% in the 3rd quarter. American International Group Inc. now owns 17,585 shares of the insurance provider’s stock worth $4,018,000 after purchasing an additional 910 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its holdings in Everest Re Group by 12.2% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 7,213 shares of the insurance provider’s stock worth $1,666,000 after purchasing an additional 787 shares during the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Several equities research analysts recently weighed in on the company. Zacks Investment Research upgraded Everest Re Group from a “sell” rating to a “hold” rating in a report on Monday, January 28th. Wells Fargo & Co reduced their target price on Everest Re Group from $235.00 to $230.00 and set a “market perform” rating for the company in a report on Wednesday, February 13th. Deutsche Bank lowered Everest Re Group from a “buy” rating to a “hold” rating in a report on Thursday, March 28th. Finally, Morgan Stanley reduced their target price on Everest Re Group from $243.00 to $232.00 and set an “equal weight” rating for the company in a report on Thursday, January 3rd. Eight equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $247.63.

Shares of NYSE RE opened at $230.71 on Friday. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $11.67 billion, a price-to-earnings ratio of 49.62, a price-to-earnings-growth ratio of 0.96 and a beta of 0.32. Everest Re Group Ltd has a 12 month low of $201.09 and a 12 month high of $238.21.

Everest Re Group (NYSE:RE) last issued its quarterly earnings results on Monday, February 11th. The insurance provider reported ($5.89) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $6.04 by ($11.93). The business had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $2.03 billion. Everest Re Group had a return on equity of 2.33% and a net margin of 1.40%. On average, research analysts forecast that Everest Re Group Ltd will post 23.85 earnings per share for the current fiscal year.

In other Everest Re Group news, Director Roger M. Singer sold 900 shares of Everest Re Group stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $223.69, for a total value of $201,321.00. Following the transaction, the director now directly owns 13,432 shares of the company’s stock, valued at approximately $3,004,604.08. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.30% of the company’s stock.

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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 Unites States.

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

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