E&G Advisors LP Sells 200 Shares of Everest Re Group Ltd (NYSE:RE)

E&G Advisors LP lowered its stake in shares of Everest Re Group Ltd (NYSE:RE) by 19.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 850 shares of the insurance provider’s stock after selling 200 shares during the quarter. E&G Advisors LP’s holdings in Everest Re Group were worth $210,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Somerset Trust Co boosted its position in shares of Everest Re Group by 190.5% in the first quarter. Somerset Trust Co now owns 122 shares of the insurance provider’s stock valued at $26,000 after acquiring an additional 80 shares during the period. Quadrant Capital Group LLC boosted its position in shares of Everest Re Group by 215.2% in the first quarter. Quadrant Capital Group LLC now owns 312 shares of the insurance provider’s stock valued at $64,000 after acquiring an additional 213 shares during the period. Advisor Group Inc. boosted its position in shares of Everest Re Group by 16.4% in the fourth quarter. Advisor Group Inc. now owns 512 shares of the insurance provider’s stock valued at $111,000 after acquiring an additional 72 shares during the period. ETF Managers Group LLC boosted its position in shares of Everest Re Group by 9.3% in the first quarter. ETF Managers Group LLC now owns 566 shares of the insurance provider’s stock valued at $122,000 after acquiring an additional 48 shares during the period. Finally, Tredje AP fonden bought a new stake in shares of Everest Re Group in the first quarter valued at approximately $153,000. 89.99% of the stock is owned by hedge funds and other institutional investors.

Shares of RE stock opened at $244.88 on Friday. The stock has a market cap of $10.05 billion, a P/E ratio of 52.66, a price-to-earnings-growth ratio of 0.99 and a beta of 0.25. Everest Re Group Ltd has a one year low of $201.09 and a one year high of $260.51. The stock has a fifty day moving average price of $251.84 and a 200 day moving average price of $237.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.37 and a quick ratio of 0.37.

Everest Re Group (NYSE:RE) last issued its earnings results on Monday, July 29th. The insurance provider reported $7.85 EPS for the quarter, topping the consensus estimate of $6.66 by $1.19. The firm had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $1.96 billion. Everest Re Group had a return on equity of 6.37% and a net margin of 6.67%. Everest Re Group’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period last year, the business earned $0.98 earnings per share. Equities research analysts anticipate that Everest Re Group Ltd will post 24.94 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th will be given a $1.40 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $5.60 annualized dividend and a yield of 2.29%. Everest Re Group’s dividend payout ratio (DPR) is currently 120.43%.

In related news, Director Meryl D. Hartzband acquired 500 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was purchased at an average cost of $242.31 per share, for a total transaction of $121,155.00. Following the completion of the purchase, the director now directly owns 9,570 shares of the company’s stock, valued at approximately $2,318,906.70. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO John P. Doucette sold 5,000 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $251.97, for a total value of $1,259,850.00. Following the transaction, the chief executive officer now owns 22,747 shares of the company’s stock, valued at $5,731,561.59. The disclosure for this sale can be found here. 1.40% of the stock is owned by company insiders.

Several research firms have recently weighed in on RE. ValuEngine cut Everest Re Group from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Barclays set a $300.00 price objective on Everest Re Group and gave the company a “buy” rating in a research report on Monday, August 12th. UBS Group increased their price objective on Everest Re Group from $252.00 to $257.00 and gave the company a “neutral” rating in a research report on Wednesday, July 10th. Zacks Investment Research cut Everest Re Group from a “buy” rating to a “hold” rating in a research report on Wednesday, May 15th. Finally, Morgan Stanley reduced their price objective on Everest Re Group from $265.00 to $260.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Eight investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $254.71.

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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