BNP Paribas Arbitrage SA Has $3.32 Million Holdings in Everest Re Group Ltd (RE)

BNP Paribas Arbitrage SA lowered its position in shares of Everest Re Group Ltd (NYSE:RE) by 55.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,373 shares of the insurance provider’s stock after selling 19,490 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Everest Re Group were worth $3,320,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Somerset Trust Co lifted its holdings in Everest Re Group by 190.5% during the first quarter. Somerset Trust Co now owns 122 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 80 shares in the last quarter. Stamos Capital Partners L.P. purchased a new position in Everest Re Group during the fourth quarter valued at approximately $28,000. Penserra Capital Management LLC purchased a new position in Everest Re Group during the fourth quarter valued at approximately $30,000. First Interstate Bank bought a new stake in shares of Everest Re Group during the fourth quarter valued at approximately $50,000. Finally, Advisor Group Inc. raised its position in shares of Everest Re Group by 16.4% during the fourth quarter. Advisor Group Inc. now owns 512 shares of the insurance provider’s stock valued at $111,000 after buying an additional 72 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

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

Several research firms have recently issued reports on RE. ValuEngine upgraded shares of Everest Re Group from a “hold” rating to a “buy” rating in a research report on Friday. Zacks Investment Research upgraded shares of Everest Re Group from a “sell” rating to a “hold” rating in a research report on Wednesday, March 27th. Deutsche Bank cut shares of Everest Re Group from a “buy” rating to a “hold” rating in a research report on Thursday, March 28th. Finally, Wells Fargo & Co reduced their price objective on shares of Everest Re Group from $235.00 to $230.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 13th. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Everest Re Group currently has an average rating of “Hold” and an average price target of $247.63.

Everest Re Group stock opened at $238.66 on Friday. The company has a market cap of $12.07 billion, a PE ratio of 51.32, a P/E/G ratio of 0.99 and a beta of 0.36. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.08. Everest Re Group Ltd has a 1 year low of $201.09 and a 1 year high of $239.07.

Everest Re Group (NYSE:RE) last released its quarterly earnings data on Monday, February 11th. The insurance provider reported ($5.89) earnings per share (EPS) for the quarter, missing the consensus estimate of $6.04 by ($11.93). The company had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $2.03 billion. Everest Re Group had a net margin of 1.40% and a return on equity of 2.33%. As a group, analysts anticipate that Everest Re Group Ltd will post 23.85 earnings per share for the current fiscal year.

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Everest Re Group Company 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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