Amalgamated Bank Decreases Stock Holdings in Everest Re Group, Ltd. (NYSE:RE)

Amalgamated Bank reduced its position in Everest Re Group, Ltd. (NYSE:REGet Rating) by 3.6% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 13,338 shares of the insurance provider’s stock after selling 499 shares during the period. Amalgamated Bank’s holdings in Everest Re Group were worth $4,020,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of RE. Raymond James Financial Services Advisors Inc. purchased a new stake in Everest Re Group in the fourth quarter worth $344,000. Charles Schwab Investment Management Inc. increased its position in Everest Re Group by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 292,421 shares of the insurance provider’s stock worth $80,100,000 after buying an additional 4,333 shares during the last quarter. O Shaughnessy Asset Management LLC increased its position in Everest Re Group by 54.5% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 833 shares of the insurance provider’s stock worth $228,000 after buying an additional 294 shares during the last quarter. Invesco Ltd. increased its position in Everest Re Group by 5.8% in the fourth quarter. Invesco Ltd. now owns 576,916 shares of the insurance provider’s stock worth $158,028,000 after buying an additional 31,404 shares during the last quarter. Finally, Schroder Investment Management Group increased its position in Everest Re Group by 16.7% in the fourth quarter. Schroder Investment Management Group now owns 58,097 shares of the insurance provider’s stock worth $15,914,000 after buying an additional 8,296 shares during the last quarter. 92.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Morgan Stanley decreased their target price on Everest Re Group from $340.00 to $320.00 and set an “overweight” rating for the company in a research report on Friday, August 19th. StockNews.com upgraded Everest Re Group from a “hold” rating to a “buy” rating in a research report on Saturday, July 23rd. Finally, Jefferies Financial Group lifted their price target on Everest Re Group from $343.00 to $344.00 and gave the company a “buy” rating in a research report on Tuesday, July 12th.

Insider Activity at Everest Re Group

In related news, Director John A. Weber sold 3,000 shares of Everest Re Group stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $270.92, for a total transaction of $812,760.00. Following the completion of the sale, the director now owns 3,096 shares of the company’s stock, valued at $838,768.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.40% of the stock is owned by corporate insiders.

Everest Re Group Price Performance

Shares of NYSE RE opened at $260.82 on Thursday. The stock has a market cap of $10.28 billion, a PE ratio of 13.22, a price-to-earnings-growth ratio of 0.78 and a beta of 0.52. Everest Re Group, Ltd. has a fifty-two week low of $248.63 and a fifty-two week high of $308.20. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.32 and a current ratio of 0.32. The stock has a fifty day moving average of $270.90 and a 200-day moving average of $278.90.

Everest Re Group (NYSE:REGet Rating) last posted its quarterly earnings data 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. The company had revenue of $2.92 billion during the quarter, compared to analyst estimates of $3.01 billion. Everest Re Group had a return on equity of 11.41% and a net margin of 6.61%. The firm’s quarterly revenue was up 14.0% on a year-over-year basis. During the same quarter last year, the company earned $14.63 earnings per share. Equities research analysts anticipate that Everest Re Group, Ltd. will post 33.25 earnings per share for the current year.

Everest Re Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Wednesday, August 24th were paid a dividend of $1.65 per share. This represents a $6.60 annualized dividend and a yield of 2.53%. The ex-dividend date was Tuesday, August 23rd. Everest Re Group’s dividend payout ratio is 0.20%.

About Everest Re Group

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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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