Everest Re Group, Ltd. (RE) Position Cut by Hussman Strategic Advisors Inc.

Hussman Strategic Advisors Inc. decreased its stake in shares of Everest Re Group, Ltd. (NYSE:RE) by 16.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 500 shares of the insurance provider’s stock after selling 100 shares during the period. Hussman Strategic Advisors Inc.’s holdings in Everest Re Group were worth $127,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of RE. Bank of Montreal Can raised its stake in shares of Everest Re Group by 3.4% in the first quarter. Bank of Montreal Can now owns 234,699 shares of the insurance provider’s stock valued at $54,876,000 after buying an additional 7,775 shares during the period. Regentatlantic Capital LLC raised its stake in Everest Re Group by 1.5% in the first quarter. Regentatlantic Capital LLC now owns 10,783 shares of the insurance provider’s stock worth $2,521,000 after buying an additional 160 shares during the period. Capstone Asset Management Co. raised its stake in Everest Re Group by 2.7% in the first quarter. Capstone Asset Management Co. now owns 5,284 shares of the insurance provider’s stock worth $1,235,000 after buying an additional 140 shares during the period. Louisiana State Employees Retirement System raised its stake in Everest Re Group by 2.0% in the first quarter. Louisiana State Employees Retirement System now owns 10,300 shares of the insurance provider’s stock worth $2,408,000 after buying an additional 200 shares during the period. Finally, DnB Asset Management AS raised its stake in Everest Re Group by 18.0% in the first quarter. DnB Asset Management AS now owns 30,157 shares of the insurance provider’s stock worth $7,051,000 after buying an additional 4,600 shares during the period. 91.63% of the stock is owned by institutional investors.

Shares of Everest Re Group, Ltd. (NYSE:RE) traded up 0.20% on Friday, hitting $263.02. The stock had a trading volume of 659,477 shares. The firm has a market cap of $10.80 billion, a P/E ratio of 9.02 and a beta of 0.63. Everest Re Group, Ltd. has a 12 month low of $183.04 and a 12 month high of $277.17. The firm’s 50-day moving average price is $264.82 and its 200 day moving average price is $246.85.

Everest Re Group (NYSE:RE) last announced its earnings results on Monday, July 24th. The insurance provider reported $5.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.24 by $0.27. The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Everest Re Group had a net margin of 19.65% and a return on equity of 13.60%. During the same quarter in the previous year, the business posted $3.17 earnings per share. Analysts anticipate that Everest Re Group, Ltd. will post $21.48 EPS for the current fiscal year.

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A number of research analysts recently issued reports on the company. Barclays PLC boosted their price target on Everest Re Group from $299.00 to $305.00 and gave the company an “overweight” rating in a report on Friday, August 11th. UBS AG reiterated a “neutral” rating and set a $256.00 target price (up previously from $251.00) on shares of Everest Re Group in a report on Tuesday, August 1st. Wells Fargo & Company reaffirmed a “hold” rating on shares of Everest Re Group in a research report on Monday, July 24th. Zacks Investment Research cut Everest Re Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Finally, BidaskClub cut Everest Re Group from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $250.25.

About Everest Re Group

Everest Re Group, Ltd., through its subsidiaries, is engaged in the underwriting of reinsurance and insurance in the United States, Bermuda and international markets. The Company operates in segments: U.S. Reinsurance, International, Bermuda and Insurance segment. The Company underwrites reinsurance both through brokers and directly with ceding companies.

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

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