Anchor Capital Advisors LLC Invests $260,000 in Everest Re Group Ltd (RE)
Anchor Capital Advisors LLC acquired a new stake in Everest Re Group Ltd (NYSE:RE) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 1,173 shares of the insurance provider’s stock, valued at approximately $260,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Valeo Financial Advisors LLC bought a new position in shares of Everest Re Group in the 3rd quarter valued at about $137,000. Cerebellum GP LLC bought a new position in shares of Everest Re Group in the 4th quarter valued at about $133,000. Diversified Trust Co bought a new position in shares of Everest Re Group in the 4th quarter valued at about $201,000. Harbor Advisors LLC bought a new position in shares of Everest Re Group in the 3rd quarter valued at about $228,000. Finally, Oppenheimer Asset Management Inc. bought a new position in shares of Everest Re Group in the 3rd quarter valued at about $228,000. 90.08% of the stock is owned by institutional investors.
In other Everest Re Group news, Director William F. Galtney, Jr. acquired 6,000 shares of the company’s stock in a transaction on Monday, November 20th. The stock was acquired at an average price of $225.29 per share, for a total transaction of $1,351,740.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John A. Graf acquired 2,285 shares of the company’s stock in a transaction on Monday, January 8th. The stock was acquired at an average price of $219.07 per share, with a total value of $500,574.95. Following the purchase, the director now directly owns 5,550 shares in the company, valued at $1,215,838.50. The disclosure for this purchase can be found here. Insiders have purchased a total of 8,323 shares of company stock valued at $1,860,654 in the last ninety days. 1.30% of the stock is currently owned by insiders.
Everest Re Group (NYSE:RE) last announced its earnings results on Monday, February 5th. The insurance provider reported $13.48 EPS for the quarter, topping the consensus estimate of $6.04 by $7.44. The business had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.52 billion. Everest Re Group had a net margin of 7.10% and a return on equity of 4.51%. Everest Re Group’s revenue was up 15.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $9.08 EPS. analysts forecast that Everest Re Group Ltd will post 21.45 earnings per share for the current fiscal year.
A number of brokerages have recently commented on RE. TheStreet raised shares of Everest Re Group from a “c+” rating to a “b-” rating in a research report on Monday, January 22nd. Zacks Investment Research downgraded shares of Everest Re Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 10th. Wells Fargo & Co reissued a “market perform” rating and issued a $235.00 price objective (down previously from $240.00) on shares of Everest Re Group in a research report on Tuesday, January 9th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $234.00 price objective on shares of Everest Re Group in a research report on Wednesday, December 6th. Finally, UBS Group lifted their price objective on shares of Everest Re Group from $230.00 to $245.00 and gave the company a “neutral” rating in a research report on Monday, November 6th. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $252.88.
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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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