49,900 Shares in Everest Re Group Ltd (RE) Purchased by Sit Investment Associates Inc.

Sit Investment Associates Inc. bought a new stake in Everest Re Group Ltd (NYSE:RE) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 49,900 shares of the insurance provider’s stock, valued at approximately $11,041,000.

Several other hedge funds also recently bought and sold shares of the company. Acrospire Investment Management LLC increased its position in Everest Re Group by 66.7% in the second quarter. Acrospire Investment Management LLC now owns 500 shares of the insurance provider’s stock worth $127,000 after buying an additional 200 shares during the last quarter. Valeo Financial Advisors LLC purchased a new stake in Everest Re Group in the third quarter worth $137,000. Pacer Advisors Inc. purchased a new stake in Everest Re Group in the second quarter worth $160,000. ETRADE Capital Management LLC purchased a new stake in Everest Re Group in the second quarter worth $201,000. Finally, Harbor Advisors LLC purchased a new stake in Everest Re Group in the third quarter worth $228,000. Institutional investors own 93.22% of the company’s stock.

In other Everest Re Group news, Director John A. Graf purchased 2,285 shares of Everest Re Group stock in a transaction that occurred on Monday, January 8th. The shares were bought at an average price of $219.07 per share, for a total transaction of $500,574.95. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director William F. Galtney, Jr. purchased 6,000 shares of Everest Re Group stock in a transaction that occurred on Monday, November 20th. The shares were acquired at an average price of $225.29 per share, for a total transaction of $1,351,740.00. The disclosure for this purchase can be found here. In the last three months, insiders bought 8,323 shares of company stock valued at $1,860,654. 1.30% of the stock is currently owned by corporate insiders.

A number of analysts have issued reports on the company. Zacks Investment Research downgraded Everest Re Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. ValuEngine cut Everest Re Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 5th. UBS Group reduced their price target on Everest Re Group from $240.00 to $230.00 and set a “neutral” rating for the company in a research report on Monday, October 2nd. Keefe, Bruyette & Woods reiterated a “sell” rating and issued a $245.00 price target on shares of Everest Re Group in a research report on Thursday, September 21st. Finally, Barclays reduced their price target on Everest Re Group from $305.00 to $280.00 and set an “overweight” rating for the company in a research report on Monday, October 16th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $245.44.

Shares of Everest Re Group Ltd (RE) opened at $219.97 on Thursday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.33 and a current ratio of 0.33. Everest Re Group Ltd has a 52 week low of $208.81 and a 52 week high of $277.17. The stock has a market capitalization of $9,030.00, a PE ratio of 33.48, a price-to-earnings-growth ratio of 1.09 and a beta of 0.61.

Everest Re Group (NYSE:RE) last issued its quarterly earnings results on Monday, October 30th. The insurance provider reported ($16.43) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.68 by ($20.11). Everest Re Group had a return on equity of 2.22% and a net margin of 4.27%. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same period last year, the firm earned $6.53 EPS. The company’s revenue for the quarter was up 16.6% on a year-over-year basis. sell-side analysts forecast that Everest Re Group Ltd will post 1.23 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 13th. Stockholders of record on Wednesday, November 29th were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date was Tuesday, November 28th. This is a positive change from Everest Re Group’s previous quarterly dividend of $1.25. Everest Re Group’s payout ratio is 79.15%.

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

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