Voleon Capital Management LP Acquires Shares of 14,000 Everest Re Group Ltd (NYSE:RE)

Voleon Capital Management LP acquired a new stake in Everest Re Group Ltd (NYSE:RE) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 14,000 shares of the insurance provider’s stock, valued at approximately $3,461,000.

Several other large investors also recently added to or reduced their stakes in RE. Piedmont Investment Advisors Inc. grew its stake in shares of Everest Re Group by 2.4% in the first quarter. Piedmont Investment Advisors Inc. now owns 1,803 shares of the insurance provider’s stock valued at $389,000 after acquiring an additional 43 shares in the last quarter. 6 Meridian grew its stake in shares of Everest Re Group by 2.0% in the second quarter. 6 Meridian now owns 2,267 shares of the insurance provider’s stock valued at $560,000 after acquiring an additional 45 shares in the last quarter. CSat Investment Advisory L.P. grew its stake in shares of Everest Re Group by 31.6% in the second quarter. CSat Investment Advisory L.P. now owns 200 shares of the insurance provider’s stock valued at $50,000 after acquiring an additional 48 shares in the last quarter. Retirement Systems of Alabama grew its stake in shares of Everest Re Group by 0.3% in the second quarter. Retirement Systems of Alabama now owns 18,996 shares of the insurance provider’s stock valued at $4,695,000 after acquiring an additional 56 shares in the last quarter. Finally, Johnson Investment Counsel Inc. grew its stake in shares of Everest Re Group by 0.8% in the second quarter. Johnson Investment Counsel Inc. now owns 6,882 shares of the insurance provider’s stock valued at $1,701,000 after acquiring an additional 58 shares in the last quarter. Hedge funds and other institutional investors own 91.76% of the company’s stock.

RE has been the topic of several research reports. Credit Suisse Group set a $256.00 price target on shares of Everest Re Group and gave the company a “hold” rating in a research note on Sunday, September 15th. ValuEngine downgraded shares of Everest Re Group from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. UBS Group upped their price target on shares of Everest Re Group from $252.00 to $257.00 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. Morgan Stanley decreased their price target on shares of Everest Re Group from $265.00 to $260.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Finally, Barclays set a $300.00 price target on shares of Everest Re Group and gave the company a “buy” rating in a research note on Monday, August 12th. Eight investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $254.57.



RE traded down $3.67 on Wednesday, hitting $263.09. 18,245 shares of the stock were exchanged, compared to its average volume of 349,936. Everest Re Group Ltd has a 12 month low of $201.09 and a 12 month high of $268.95. The business has a 50-day moving average of $249.93 and a two-hundred day moving average of $242.10. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.37 and a quick ratio of 0.37. The firm has a market capitalization of $10.87 billion, a price-to-earnings ratio of 56.59, a PEG ratio of 1.06 and a beta of 0.25.

Everest Re Group (NYSE:RE) last posted its quarterly earnings data on Monday, July 29th. The insurance provider reported $7.85 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 business had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter in the prior year, the business posted $0.98 earnings per share. Everest Re Group’s revenue was up 6.7% compared to the same quarter last year. Equities research analysts expect that Everest Re Group Ltd will post 24.94 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th were given a dividend of $1.40 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $5.60 annualized dividend and a yield of 2.13%. Everest Re Group’s dividend payout ratio is 120.43%.

In other news, Director Meryl D. Hartzband acquired 500 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was acquired at an average price of $242.31 per share, with a total value of $121,155.00. Following the completion of the transaction, the director now directly owns 9,570 shares of the company’s stock, valued at approximately $2,318,906.70. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John P. Doucette sold 5,000 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $251.97, for a total transaction of $1,259,850.00. Following the sale, the chief executive officer now directly 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. Corporate insiders own 1.40% of the company’s stock.

Everest Re Group 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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