Ameriprise Financial Inc. Purchases 105,848 Shares of Everest Re Group, Ltd. (RE)
Ameriprise Financial Inc. increased its position in Everest Re Group, Ltd. (NYSE:RE) by 386.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 133,210 shares of the insurance provider’s stock after buying an additional 105,848 shares during the quarter. Ameriprise Financial Inc. owned 0.32% of Everest Re Group worth $30,422,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in the stock. Acrospire Investment Management LLC increased its stake in shares of Everest Re Group by 66.7% during the second quarter. Acrospire Investment Management LLC now owns 500 shares of the insurance provider’s stock valued at $127,000 after buying an additional 200 shares during the period. Pacer Advisors Inc. purchased a new position in shares of Everest Re Group during the second quarter valued at approximately $160,000. IFP Advisors Inc increased its stake in shares of Everest Re Group by 29.1% during the second quarter. IFP Advisors Inc now owns 657 shares of the insurance provider’s stock valued at $167,000 after buying an additional 148 shares during the period. ETRADE Capital Management LLC purchased a new position in shares of Everest Re Group during the second quarter valued at approximately $201,000. Finally, Sawtooth Solutions LLC purchased a new position in shares of Everest Re Group during the second quarter valued at approximately $205,000. Institutional investors own 93.68% of the company’s stock.
In other Everest Re Group news, Director William F. Galtney, Jr. purchased 6,000 shares of the stock in a transaction dated Monday, November 20th. The shares were purchased at an average cost of $225.29 per share, with a total value of $1,351,740.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.30% of the company’s stock.
Shares of Everest Re Group, Ltd. (RE) traded down $4.50 during trading hours on Tuesday, hitting $213.56. The stock had a trading volume of 567,600 shares, compared to its average volume of 408,067. The company has a market capitalization of $8,760.00, a P/E ratio of 51.92, a P/E/G ratio of 12.73 and a beta of 0.61. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.33 and a current ratio of 0.33. Everest Re Group, Ltd. has a 1 year low of $207.93 and a 1 year high of $277.17.
Everest Re Group (NYSE:RE) last announced its quarterly earnings results on Monday, October 30th. The insurance provider reported ($16.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.68 by ($20.11). The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.62 billion. Everest Re Group had a net margin of 4.27% and a return on equity of 2.22%. The company’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same period in the previous year, the company earned $6.53 earnings per share. sell-side analysts expect that Everest Re Group, Ltd. will post 1.71 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 13th. Stockholders of record on Wednesday, November 29th will be issued a dividend of $1.30 per share. This is an increase from Everest Re Group’s previous quarterly dividend of $1.25. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date is Tuesday, November 28th. Everest Re Group’s dividend payout ratio is presently 79.15%.
Several equities research analysts recently weighed in on the company. Barclays upped their price target on Everest Re Group from $299.00 to $305.00 and gave the stock an “overweight” rating in a research note on Friday, August 11th. ValuEngine raised Everest Re Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. Buckingham Research assumed coverage on Everest Re Group in a research note on Monday, September 11th. They issued a “neutral” rating and a $255.00 price target on the stock. UBS reduced their price target on Everest Re Group from $256.00 to $240.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 19th. Finally, Keefe, Bruyette & Woods reissued a “sell” rating and issued a $245.00 target price on shares of Everest Re Group in a report on Thursday, September 21st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. Everest Re Group has a consensus rating of “Hold” and an average price target of $248.56.
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Everest Re Group Profile
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.
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