Accident Compensation Corp Trims Holdings in Everest Re Group Ltd (RE)
Accident Compensation Corp reduced its position in shares of Everest Re Group Ltd (NYSE:RE) by 8.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,900 shares of the insurance provider’s stock after selling 1,500 shares during the quarter. Accident Compensation Corp’s holdings in Everest Re Group were worth $3,739,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Toronto Dominion Bank increased its holdings in Everest Re Group by 12.0% during the 3rd quarter. Toronto Dominion Bank now owns 15,579 shares of the insurance provider’s stock worth $3,558,000 after purchasing an additional 1,667 shares during the period. AXA boosted its position in Everest Re Group by 165.0% during the 3rd quarter. AXA now owns 119,964 shares of the insurance provider’s stock valued at $27,399,000 after acquiring an additional 74,700 shares in the last quarter. Magnetar Financial LLC boosted its position in Everest Re Group by 15.7% during the 3rd quarter. Magnetar Financial LLC now owns 10,539 shares of the insurance provider’s stock valued at $2,407,000 after acquiring an additional 1,430 shares in the last quarter. APG Asset Management N.V. boosted its position in Everest Re Group by 43.6% during the 3rd quarter. APG Asset Management N.V. now owns 1,032,662 shares of the insurance provider’s stock valued at $235,850,000 after acquiring an additional 313,700 shares in the last quarter. Finally, Swiss National Bank boosted its position in Everest Re Group by 1.4% during the 3rd quarter. Swiss National Bank now owns 151,075 shares of the insurance provider’s stock valued at $34,504,000 after acquiring an additional 2,100 shares in the last quarter. Institutional investors own 90.08% of the company’s stock.
In other news, Director John A. Graf purchased 2,285 shares of the stock in a transaction on Monday, January 8th. The stock was bought at an average price of $219.07 per share, with a total value of $500,574.95. Following the transaction, the director now owns 5,550 shares in the company, valued at approximately $1,215,838.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William F. Galtney, Jr. purchased 6,000 shares of the stock in a transaction on 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 disclosure for this purchase can be found here. Insiders bought a total of 8,323 shares of company stock valued at $1,860,654 in the last three months. Insiders own 1.30% of the company’s stock.
Everest Re Group (NYSE:RE) last posted its quarterly earnings data on Monday, February 5th. The insurance provider reported $13.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $6.04 by $7.44. The firm had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Everest Re Group had a return on equity of 4.51% and a net margin of 7.10%. The business’s quarterly revenue was up 15.7% on a year-over-year basis. During the same quarter last year, the firm earned $9.08 EPS. research analysts expect that Everest Re Group Ltd will post 21.45 earnings per share for the current fiscal year.
Several analysts have issued reports on the company. TheStreet raised Everest Re Group from a “c+” rating to a “b-” rating in a research report on Monday, January 22nd. Zacks Investment Research cut Everest Re Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 10th. Wells Fargo & Co reaffirmed a “market perform” rating and set a $235.00 target price (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 raised their price objective on Everest Re Group from $230.00 to $245.00 and gave the stock a “neutral” rating in a research report on Monday, November 6th. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Everest Re Group presently has a consensus rating of “Hold” and an average target price of $252.88.
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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