Janus Henderson Group PLC grew its stake in shares of Everest Re Group, Ltd. (NYSE:RE) by 7,587.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 344,770 shares of the insurance provider’s stock after buying an additional 340,285 shares during the quarter. Janus Henderson Group PLC owned 0.84% of Everest Re Group worth $87,775,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of RE. Acrospire Investment Management LLC raised its position in shares of Everest Re Group by 66.7% during the 2nd quarter. Acrospire Investment Management LLC now owns 500 shares of the insurance provider’s stock valued at $127,000 after buying an additional 200 shares in the last quarter. Pacer Advisors Inc. purchased a new stake in shares of Everest Re Group during the 2nd quarter valued at $160,000. IFP Advisors Inc raised its position in shares of Everest Re Group by 29.1% during the 2nd quarter. IFP Advisors Inc now owns 657 shares of the insurance provider’s stock valued at $167,000 after buying an additional 148 shares in the last quarter. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Everest Re Group during the 1st quarter valued at $200,000. Finally, ETRADE Capital Management LLC purchased a new stake in shares of Everest Re Group during the 2nd quarter valued at $201,000. Hedge funds and other institutional investors own 92.44% of the company’s stock.
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Everest Re Group, Ltd. (NYSE RE) opened at 224.77 on Wednesday. The company has a 50-day moving average of $234.03 and a 200-day moving average of $247.72. The stock has a market cap of $9.23 billion, a PE ratio of 7.71 and a beta of 0.62. Everest Re Group, Ltd. has a 12 month low of $190.45 and a 12 month high of $277.17.
Everest Re Group (NYSE:RE) last released its quarterly earnings results on Monday, July 24th. The insurance provider reported $5.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $5.24 by $0.27. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate 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 prior year, the firm earned $3.17 earnings per share. On average, equities analysts forecast that Everest Re Group, Ltd. will post ($3.24) EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 20th. Investors of record on Wednesday, September 6th were paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend was Friday, September 1st. Everest Re Group’s payout ratio is 17.15%.
Several analysts have recently weighed in on the stock. Wells Fargo & Company restated a “hold” rating on shares of Everest Re Group in a research report on Monday, July 24th. Barclays PLC raised their price objective on shares of Everest Re Group from $299.00 to $305.00 and gave the company an “overweight” rating in a research report on Friday, August 11th. UBS AG restated a “neutral” rating and set a $256.00 price objective (up previously from $251.00) on shares of Everest Re Group in a research report on Tuesday, August 1st. Zacks Investment Research cut shares of Everest Re Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Finally, BidaskClub upgraded shares of Everest Re Group from a “hold” rating to a “buy” rating in a research report on Wednesday, July 5th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $247.89.
Everest Re Group Profile
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.
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