Insider Selling: Everest Re Group Ltd (RE) SVP Sells 1,048 Shares of Stock

Everest Re Group Ltd (NYSE:RE) SVP Jonathan Zaffino sold 1,048 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $248.01, for a total value of $259,914.48. Following the completion of the transaction, the senior vice president now directly owns 9,617 shares in the company, valued at $2,385,112.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Shares of NYSE:RE opened at $248.26 on Friday. The company has a current ratio of 0.37, a quick ratio of 0.35 and a debt-to-equity ratio of 0.08. Everest Re Group Ltd has a twelve month low of $201.09 and a twelve month high of $251.67. The company has a market cap of $10.11 billion, a PE ratio of 53.39, a PEG ratio of 1.03 and a beta of 0.36.

Everest Re Group (NYSE:RE) last issued its earnings results on Monday, May 6th. The insurance provider reported $6.91 earnings per share for the quarter, topping analysts’ consensus estimates of $5.91 by $1.00. Everest Re Group had a return on equity of 3.08% and a net margin of 3.19%. The company had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same period in the prior year, the firm earned $5.34 earnings per share. Everest Re Group’s revenue for the quarter was up 12.3% on a year-over-year basis. Equities analysts predict that Everest Re Group Ltd will post 24.3 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Wednesday, May 29th will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend is Tuesday, May 28th. Everest Re Group’s payout ratio is 120.43%.

Several equities analysts have issued reports on RE shares. Zacks Investment Research raised Everest Re Group from a “sell” rating to a “hold” rating in a research note on Monday, January 21st. Wells Fargo & Co reissued a “hold” rating and issued a $235.00 price target on shares of Everest Re Group in a research note on Thursday, January 24th. Deutsche Bank lowered Everest Re Group from a “buy” rating to a “hold” rating in a research note on Thursday, March 28th. ValuEngine raised Everest Re Group from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Finally, UBS Group boosted their price target on Everest Re Group from $236.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday, May 7th. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Everest Re Group has an average rating of “Hold” and an average target price of $249.67.

Large investors have recently modified their holdings of the company. CWM LLC lifted its position in shares of Everest Re Group by 129.9% during the 1st quarter. CWM LLC now owns 23,568 shares of the insurance provider’s stock valued at $5,090,000 after buying an additional 13,317 shares during the last quarter. Squarepoint Ops LLC lifted its position in shares of Everest Re Group by 143.5% in the fourth quarter. Squarepoint Ops LLC now owns 18,263 shares of the insurance provider’s stock valued at $3,977,000 after acquiring an additional 10,763 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Everest Re Group by 326.4% in the third 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 in the last quarter. Sompo Japan Nipponkoa Asset Management CO. LTD. lifted its position in shares of Everest Re Group by 34.8% in the fourth quarter. Sompo Japan Nipponkoa Asset Management CO. LTD. now owns 5,660 shares of the insurance provider’s stock worth $1,233,000 after buying an additional 1,460 shares in the last quarter. Finally, State of Tennessee Treasury Department lifted its position in shares of Everest Re Group by 116.1% in the fourth quarter. State of Tennessee Treasury Department now owns 19,704 shares of the insurance provider’s stock worth $4,291,000 after buying an additional 10,585 shares in the last quarter. 73.79% of the stock is currently owned by institutional investors.

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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 United States.

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