Neuburgh Advisers LLC Grows Position in Everest Re Group Ltd (NYSE:RE)

Neuburgh Advisers LLC boosted its stake in shares of Everest Re Group Ltd (NYSE:RE) by 82.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 3,652 shares of the insurance provider’s stock after buying an additional 1,650 shares during the quarter. Neuburgh Advisers LLC’s holdings in Everest Re Group were worth $903,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund boosted its position in shares of Everest Re Group by 0.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 10,447 shares of the insurance provider’s stock worth $2,256,000 after purchasing an additional 42 shares during the period. Piedmont Investment Advisors Inc. boosted its holdings in Everest Re Group by 2.4% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 1,803 shares of the insurance provider’s stock worth $389,000 after buying an additional 43 shares during the period. 6 Meridian boosted its holdings in Everest Re Group by 2.0% in the 2nd quarter. 6 Meridian now owns 2,267 shares of the insurance provider’s stock worth $560,000 after buying an additional 45 shares during the period. ETF Managers Group LLC increased its stake in Everest Re Group by 9.3% in the 1st quarter. ETF Managers Group LLC now owns 566 shares of the insurance provider’s stock worth $122,000 after buying an additional 48 shares in the last quarter. Finally, Retirement Systems of Alabama increased its stake in Everest Re Group by 0.3% in the 2nd quarter. Retirement Systems of Alabama now owns 18,996 shares of the insurance provider’s stock worth $4,695,000 after buying an additional 56 shares in the last quarter. 91.81% of the stock is owned by institutional investors and hedge funds.

In related news, Director Meryl D. Hartzband acquired 500 shares of the stock in a transaction dated Friday, August 2nd. The stock was acquired at an average cost of $242.31 per share, with a total value of $121,155.00. Following the purchase, the director now directly owns 9,570 shares of the company’s stock, valued at $2,318,906.70. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO John P. Doucette sold 5,000 shares of Everest Re Group stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 22,747 shares of the company’s stock, valued at approximately $5,731,561.59. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.



A number of research firms have commented on RE. UBS Group raised their price target on Everest Re Group from $252.00 to $257.00 and gave the company a “neutral” rating in a report on Wednesday, July 10th. Morgan Stanley cut their target price 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. Barclays set a $300.00 target price on Everest Re Group and gave the company a “buy” rating in a research note on Monday, August 12th. ValuEngine cut Everest Re Group from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Zacks Investment Research lowered shares of Everest Re Group from a “buy” rating to a “hold” rating in a report on Wednesday, May 15th. Eight investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $254.71.

Shares of RE traded up $2.18 during mid-day trading on Wednesday, hitting $253.20. 7,638 shares of the stock were exchanged, compared to its average volume of 260,749. The company has a market cap of $10.26 billion, a PE ratio of 54.43, a price-to-earnings-growth ratio of 1.01 and a beta of 0.25. Everest Re Group Ltd has a 52-week low of $201.09 and a 52-week high of $260.51. The firm has a 50-day moving average of $247.76 and a two-hundred day moving average of $239.75. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.37 and a current ratio of 0.37.

Everest Re Group (NYSE:RE) last posted its earnings results on Monday, July 29th. The insurance provider reported $7.85 earnings per share for the quarter, beating analysts’ consensus estimates of $6.66 by $1.19. Everest Re Group had a net margin of 6.67% and a return on equity of 6.37%. The firm had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same period last year, the firm posted $0.98 earnings per share. Everest Re Group’s revenue for the quarter was up 6.7% compared to the same quarter last year. On average, sell-side analysts predict that Everest Re Group Ltd will post 24.94 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th will be given a dividend of $1.40 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $5.60 annualized dividend and a yield of 2.21%. Everest Re Group’s dividend payout ratio (DPR) is currently 120.43%.

Everest Re Group Company Profile

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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