Victory Capital Management Inc. Sells 4,599 Shares of Everest Re Group Ltd (RE)

Victory Capital Management Inc. reduced its position in Everest Re Group Ltd (NYSE:RE) by 10.8% in the 1st quarter, Holdings Channel reports. The firm owned 38,097 shares of the insurance provider’s stock after selling 4,599 shares during the quarter. Victory Capital Management Inc.’s holdings in Everest Re Group were worth $8,227,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CWM LLC increased 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 worth $5,090,000 after purchasing an additional 13,317 shares during the last quarter. Squarepoint Ops LLC increased its position in shares of Everest Re Group by 143.5% during the 4th quarter. Squarepoint Ops LLC now owns 18,263 shares of the insurance provider’s stock worth $3,977,000 after purchasing an additional 10,763 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Everest Re Group by 326.4% during 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. Sompo Japan Nipponkoa Asset Management CO. LTD. increased its position in shares of Everest Re Group by 34.8% during the 4th quarter. Sompo Japan Nipponkoa Asset Management CO. LTD. now owns 5,660 shares of the insurance provider’s stock worth $1,233,000 after purchasing an additional 1,460 shares during the last quarter. Finally, State of Tennessee Treasury Department increased its position in shares of Everest Re Group by 116.1% during the 4th quarter. State of Tennessee Treasury Department now owns 19,704 shares of the insurance provider’s stock worth $4,291,000 after purchasing an additional 10,585 shares during the last quarter. 88.10% of the stock is owned by hedge funds and other institutional investors.

Shares of RE traded down $0.29 during midday trading on Thursday, hitting $250.04. The company had a trading volume of 4,226 shares, compared to its average volume of 375,269. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.37 and a current ratio of 0.37. The stock has a market capitalization of $10.16 billion, a PE ratio of 53.83, a PEG ratio of 1.03 and a beta of 0.36. Everest Re Group Ltd has a 1 year low of $201.09 and a 1 year high of $252.73.

Everest Re Group (NYSE:RE) last announced its quarterly earnings data on Monday, May 6th. The insurance provider reported $6.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.91 by $1.00. The business had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.82 billion. Everest Re Group had a return on equity of 3.08% and a net margin of 3.19%. The business’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter last year, the business posted $5.34 EPS. Analysts predict that Everest Re Group Ltd will post 24.3 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Wednesday, May 29th will be paid a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 2.24%. The ex-dividend date is Tuesday, May 28th. Everest Re Group’s payout ratio is presently 120.43%.

In other news, SVP Jonathan Zaffino sold 1,048 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $248.01, for a total transaction of $259,914.48. Following the sale, the senior vice president now owns 9,617 shares of the company’s stock, valued at approximately $2,385,112.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John A. Weber sold 500 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $246.46, for a total value of $123,230.00. Following the sale, the director now directly owns 6,499 shares in the company, valued at approximately $1,601,743.54. The disclosure for this sale can be found here. Insiders sold a total of 2,448 shares of company stock valued at $584,465 in the last quarter. Company insiders own 1.40% of the company’s stock.

A number of brokerages recently issued reports on RE. Zacks Investment Research raised Everest Re Group from a “sell” rating to a “hold” rating in a research report on Wednesday, March 27th. UBS Group raised their price objective on Everest Re Group from $236.00 to $250.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 7th. Barclays raised their price objective on Everest Re Group from $260.00 to $285.00 and gave the stock an “overweight” rating in a research report on Wednesday. Morgan Stanley raised their target price on Everest Re Group from $232.00 to $248.00 and gave the company an “equal weight” rating in a report on Wednesday, May 15th. Finally, ValuEngine upgraded Everest Re Group from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Everest Re Group currently has an average rating of “Hold” and an average target price of $253.20.

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About Everest Re Group

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

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