Oppenheimer & Co. Inc. boosted its position in shares of Everest Re Group Ltd (NYSE:RE) by 31.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,425 shares of the insurance provider’s stock after purchasing an additional 3,000 shares during the period. Oppenheimer & Co. Inc.’s holdings in Everest Re Group were worth $2,838,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RE. Piedmont Investment Advisors LLC bought a new position in Everest Re Group during the 2nd quarter valued at $109,000. Truvestments Capital LLC bought a new position in Everest Re Group during the 3rd quarter valued at $109,000. Acadian Asset Management LLC boosted 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 valued at $132,000 after acquiring an additional 431 shares during the last quarter. Daiwa SB Investments Ltd. boosted 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 valued at $198,000 after acquiring 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 valued at $207,000. 92.73% of the stock is owned by institutional investors and hedge funds.
A number of research firms have commented on RE. ValuEngine upgraded shares of Everest Re Group from a “sell” rating to a “hold” rating in a research note on Thursday, August 2nd. TheStreet upgraded shares of Everest Re Group from a “c+” rating to a “b” rating in a research note on Monday. Zacks Investment Research downgraded shares of Everest Re Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 23rd. Credit Suisse Group began coverage on shares of Everest Re Group in a research note on Tuesday, August 7th. They set a “neutral” rating and a $239.00 price objective on the stock. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $240.00 price objective on shares of Everest Re Group in a research note on Wednesday, August 1st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. Everest Re Group has a consensus rating of “Hold” and an average price target of $251.89.
Everest Re Group stock opened at $219.49 on Wednesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.35 and a current ratio of 0.35. Everest Re Group Ltd has a 1 year low of $203.90 and a 1 year high of $264.88. The stock has a market capitalization of $8.38 billion, a PE ratio of 24.12, a price-to-earnings-growth ratio of 1.21 and a beta of 0.42.
Everest Re Group (NYSE:RE) last posted its quarterly earnings results on Monday, October 29th. The insurance provider reported $4.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.07 by $1.02. Everest Re Group had a net margin of 14.19% and a return on equity of 11.83%. The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same period last year, the firm posted ($16.43) EPS. On average, research analysts expect that Everest Re Group Ltd will post 17.06 earnings per share for the current year.
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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