Janney Montgomery Scott LLC reduced its position in Everest Re Group Ltd (NYSE:RE) by 28.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,295 shares of the insurance provider’s stock after selling 2,855 shares during the period. Janney Montgomery Scott LLC’s holdings in Everest Re Group were worth $1,576,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of RE. JPMorgan Chase & Co. raised its position in shares of Everest Re Group by 326.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 828,753 shares of the insurance provider’s stock valued at $189,345,000 after acquiring an additional 634,401 shares during the period. Nordea Investment Management AB raised its position in shares of Everest Re Group by 9.7% in the 3rd quarter. Nordea Investment Management AB now owns 57,597 shares of the insurance provider’s stock valued at $13,160,000 after acquiring an additional 5,108 shares during the period. Legal & General Group Plc raised its position in shares of Everest Re Group by 0.6% in the 3rd quarter. Legal & General Group Plc now owns 249,880 shares of the insurance provider’s stock valued at $57,075,000 after acquiring an additional 1,371 shares during the period. Vanguard Group Inc raised its position in shares of Everest Re Group by 1.0% in the 3rd quarter. Vanguard Group Inc now owns 4,236,214 shares of the insurance provider’s stock valued at $967,848,000 after acquiring an additional 39,958 shares during the period. Finally, Cerebellum GP LLC acquired a new stake in shares of Everest Re Group in the 4th quarter valued at approximately $143,000. Institutional investors own 74.64% of the company’s stock.
A number of analysts recently weighed in on the stock. UBS Group increased their price target on shares of Everest Re Group from $236.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday, May 7th. Zacks Investment Research upgraded shares of Everest Re Group from a “sell” rating to a “hold” rating in a report on Wednesday, March 27th. ValuEngine upgraded shares of Everest Re Group from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. Deutsche Bank downgraded shares of Everest Re Group from a “buy” rating to a “hold” rating in a report on Thursday, March 28th. Finally, Wells Fargo & Co dropped their target price on shares of Everest Re Group from $235.00 to $230.00 and set a “market perform” rating on the stock in a report on Wednesday, February 13th. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $247.89.
Shares of RE stock opened at $248.45 on Wednesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.35 and a current ratio of 0.37. The company has a market cap of $12.42 billion, a price-to-earnings ratio of 53.43, a P/E/G ratio of 1.03 and a beta of 0.36. Everest Re Group Ltd has a 52 week low of $201.09 and a 52 week high of $250.00.
Everest Re Group (NYSE:RE) last announced its earnings results on Monday, May 6th. The insurance provider reported $6.91 EPS for the quarter, topping the consensus estimate of $5.91 by $1.00. The firm had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.82 billion. Everest Re Group had a net margin of 3.19% and a return on equity of 3.08%. The business’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period last year, the company posted $5.34 EPS. On average, analysts forecast that Everest Re Group Ltd will post 23.94 EPS for the current year.
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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 United States.
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