Livforsakringsbolaget Skandia Omsesidigt trimmed its position in Everest Re Group Ltd (NYSE:RE) by 18.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,042 shares of the insurance provider’s stock after selling 2,500 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Everest Re Group were worth $2,522,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Piedmont Investment Advisors LLC bought a new stake in shares of Everest Re Group in the 2nd quarter valued at approximately $109,000. Truvestments Capital LLC bought a new position in Everest Re Group during the 3rd quarter worth $109,000. Acadian Asset Management LLC grew its stake in Everest Re Group by 299.3% during the 2nd quarter. Acadian Asset Management LLC now owns 575 shares of the insurance provider’s stock worth $132,000 after buying an additional 431 shares during the last quarter. Daiwa SB Investments Ltd. grew its stake in Everest Re Group by 38.7% during the 2nd quarter. Daiwa SB Investments Ltd. now owns 860 shares of the insurance provider’s stock worth $198,000 after buying an additional 240 shares during the last quarter. Finally, Rehmann Capital Advisory Group bought a new position in Everest Re Group during the 2nd quarter worth $207,000. Institutional investors and hedge funds own 92.80% of the company’s stock.
Shares of RE opened at $205.03 on Friday. The firm has a market cap of $8.48 billion, a P/E ratio of 22.53, a P/E/G ratio of 1.26 and a beta of 0.42. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.08. Everest Re Group Ltd has a 12 month low of $203.90 and a 12 month high of $264.88.
In other Everest Re Group news, CEO John P. Doucette sold 900 shares of the business’s stock in a transaction on Monday, August 13th. The stock was sold at an average price of $215.32, for a total transaction of $193,788.00. Following the completion of the transaction, the chief executive officer now owns 22,620 shares in the company, valued at approximately $4,870,538.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.30% of the company’s stock.
RE has been the subject of a number of recent research reports. Morgan Stanley lowered their price objective on Everest Re Group from $258.00 to $243.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 14th. Zacks Investment Research upgraded Everest Re Group from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 2nd. Wells Fargo & Co restated a “hold” rating and set a $235.00 price objective on shares of Everest Re Group in a research note on Thursday, October 18th. ValuEngine downgraded Everest Re Group from a “hold” rating to a “sell” rating in a research note on Tuesday, July 24th. Finally, Citigroup initiated coverage on Everest Re Group in a research note on Wednesday, October 10th. They set a “neutral” rating and a $237.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $251.89.
About Everest Re Group
Everest Re Group, Ltd., through its subsidiaries, provides reinsurance and insurance products. The company operates through the U.S. Reinsurance, International, Bermuda, and Insurance segments. 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 Unites States.
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