Fulton Bank N.A. Invests $224,000 in Everest Re Group, Ltd. (NYSE:RE)

Fulton Bank N.A. bought a new position in shares of Everest Re Group, Ltd. (NYSE:REGet Rating) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 799 shares of the insurance provider’s stock, valued at approximately $224,000.

Several other large investors also recently bought and sold shares of RE. Vanguard Group Inc. grew its position in Everest Re Group by 5.4% during the 1st quarter. Vanguard Group Inc. now owns 4,629,441 shares of the insurance provider’s stock worth $1,395,221,000 after purchasing an additional 237,698 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in Everest Re Group during the 1st quarter worth approximately $67,377,000. Schonfeld Strategic Advisors LLC grew its position in Everest Re Group by 342.5% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 206,472 shares of the insurance provider’s stock worth $56,557,000 after purchasing an additional 159,814 shares during the last quarter. Gillson Capital LP purchased a new stake in Everest Re Group during the 4th quarter worth approximately $39,475,000. Finally, Strs Ohio grew its position in Everest Re Group by 1,389.4% during the 1st quarter. Strs Ohio now owns 141,408 shares of the insurance provider’s stock worth $42,617,000 after purchasing an additional 131,914 shares during the last quarter. Hedge funds and other institutional investors own 92.35% of the company’s stock.

Everest Re Group Stock Down 0.7 %

RE stock opened at $283.07 on Monday. The firm’s fifty day simple moving average is $271.25 and its 200-day simple moving average is $279.07. The company has a market capitalization of $11.16 billion, a P/E ratio of 14.35, a price-to-earnings-growth ratio of 0.78 and a beta of 0.52. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.32 and a quick ratio of 0.32. Everest Re Group, Ltd. has a 12 month low of $248.63 and a 12 month high of $308.20.

Everest Re Group (NYSE:REGet Rating) last posted its earnings results on Wednesday, July 27th. The insurance provider reported $9.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.31 by $0.48. Everest Re Group had a net margin of 6.61% and a return on equity of 11.41%. The firm had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $3.01 billion. During the same period in the previous year, the business posted $14.63 EPS. The business’s revenue was up 14.0% compared to the same quarter last year. As a group, equities research analysts forecast that Everest Re Group, Ltd. will post 33.25 earnings per share for the current year.

Everest Re Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Wednesday, August 24th were paid a $1.65 dividend. This represents a $6.60 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend was Tuesday, August 23rd. Everest Re Group’s dividend payout ratio is currently 0.20%.

Analysts Set New Price Targets

Several analysts have weighed in on RE shares. Morgan Stanley dropped their target price on shares of Everest Re Group from $340.00 to $320.00 and set an “overweight” rating on the stock in a research report on Friday, August 19th. StockNews.com raised shares of Everest Re Group from a “hold” rating to a “buy” rating in a report on Saturday, July 23rd. Finally, Jefferies Financial Group upped their price objective on shares of Everest Re Group from $343.00 to $344.00 and gave the company a “buy” rating in a report on Tuesday, July 12th.

Insider Activity at Everest Re Group

In related news, Director John A. Weber sold 3,000 shares of the business’s stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $270.92, for a total value of $812,760.00. Following the completion of the transaction, the director now directly owns 3,096 shares in the company, valued at approximately $838,768.32. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.40% of the company’s stock.

Everest Re Group Profile

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Everest Re Group, Ltd., through its subsidiaries, provides reinsurance and insurance products in the United States, Bermuda, and internationally. The company operates through Reinsurance Operations and Insurance Operations segments. The Reinsurance Operations segment writes property and casualty reinsurance; and specialty lines of business through reinsurance brokers, as well as directly with ceding companies in the United States, Bermuda, Ireland, Canada, Singapore, Switzerland, and the United Kingdom.

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Institutional Ownership by Quarter for Everest Re Group (NYSE:RE)

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