Everest Re Group, Ltd. (RE) Stake Lessened by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. lowered its stake in shares of Everest Re Group, Ltd. (NYSE:RE) by 83.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,208 shares of the insurance provider’s stock after selling 10,992 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Everest Re Group were worth $504,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of RE. Vanguard Group Inc. increased its holdings in shares of Everest Re Group by 23.1% during the second quarter. Vanguard Group Inc. now owns 3,756,913 shares of the insurance provider’s stock valued at $956,473,000 after acquiring an additional 704,287 shares in the last quarter. State Street Corp boosted its position in Everest Re Group by 26.4% in the second quarter. State Street Corp now owns 2,157,326 shares of the insurance provider’s stock valued at $549,219,000 after buying an additional 450,606 shares during the last quarter. Janus Henderson Group PLC boosted its position in Everest Re Group by 7,587.2% in the second quarter. Janus Henderson Group PLC now owns 344,770 shares of the insurance provider’s stock valued at $87,775,000 after buying an additional 340,285 shares during the last quarter. APG Asset Management N.V. boosted its position in Everest Re Group by 43.6% in the third quarter. APG Asset Management N.V. now owns 1,032,662 shares of the insurance provider’s stock valued at $235,850,000 after buying an additional 313,700 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in Everest Re Group by 190.2% in the second quarter. American Century Companies Inc. now owns 281,630 shares of the insurance provider’s stock valued at $71,700,000 after buying an additional 184,576 shares during the last quarter. Hedge funds and other institutional investors own 92.16% of the company’s stock.

A number of equities research analysts recently commented on RE shares. Buckingham Research started coverage on Everest Re Group in a research report on Monday, September 11th. They issued a “neutral” rating and a $255.00 target price on the stock. Zacks Investment Research lowered Everest Re Group from a “hold” rating to a “sell” rating in a research report on Friday, October 13th. ValuEngine lowered Everest Re Group from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 7th. UBS AG dropped their target price on Everest Re Group from $256.00 to $240.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 19th. Finally, Barclays PLC dropped their target price on Everest Re Group from $305.00 to $280.00 and set an “overweight” rating on the stock in a research report on Monday, October 16th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. Everest Re Group currently has an average rating of “Hold” and an average price target of $243.20.

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Shares of Everest Re Group, Ltd. (RE) opened at $228.55 on Tuesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.33 and a quick ratio of 0.33. Everest Re Group, Ltd. has a 52-week low of $206.60 and a 52-week high of $277.17. The company has a market capitalization of $9,492.85, a P/E ratio of 55.03, a price-to-earnings-growth ratio of 13.34 and a beta of 0.65.

Everest Re Group (NYSE:RE) last released its quarterly earnings data on Monday, October 30th. The insurance provider reported ($16.43) 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 company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.62 billion. During the same quarter in the prior year, the company posted $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 1.73 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 13th. Stockholders of record on Wednesday, November 29th will be given a dividend of $1.30 per share. This is a positive change from Everest Re Group’s previous quarterly dividend of $1.25. The ex-dividend date is Tuesday, November 28th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.28%. Everest Re Group’s dividend payout ratio (DPR) is 78.49%.

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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