Bank of Nova Scotia Has $5.38 Million Stake in Everest Re Group, Ltd. (NYSE:RE)

Bank of Nova Scotia decreased its position in Everest Re Group, Ltd. (NYSE:REGet Rating) by 78.0% in the second quarter, HoldingsChannel reports. The firm owned 19,187 shares of the insurance provider’s stock after selling 67,887 shares during the period. Bank of Nova Scotia’s holdings in Everest Re Group were worth $5,377,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Everest Re Group by 5.4% in the 1st quarter. Vanguard Group Inc. now owns 4,629,441 shares of the insurance provider’s stock worth $1,395,221,000 after buying an additional 237,698 shares in the last quarter. American Century Companies Inc. lifted its position in Everest Re Group by 1,849.0% in the 1st quarter. American Century Companies Inc. now owns 97,491 shares of the insurance provider’s stock worth $29,382,000 after buying an additional 92,489 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in Everest Re Group by 15.4% in the 1st quarter. Los Angeles Capital Management LLC now owns 688,906 shares of the insurance provider’s stock worth $207,622,000 after buying an additional 92,027 shares in the last quarter. Boston Partners lifted its position in Everest Re Group by 4.1% in the 1st quarter. Boston Partners now owns 2,341,749 shares of the insurance provider’s stock worth $705,655,000 after buying an additional 91,251 shares in the last quarter. Finally, State Street Corp lifted its position in Everest Re Group by 4.4% in the 1st quarter. State Street Corp now owns 2,049,747 shares of the insurance provider’s stock worth $617,753,000 after buying an additional 86,154 shares in the last quarter. Institutional investors and hedge funds own 92.35% of the company’s stock.

Everest Re Group Stock Up 0.4 %

Everest Re Group stock opened at $310.08 on Tuesday. The company has a market capitalization of $12.14 billion, a P/E ratio of 23.16, a P/E/G ratio of 0.97 and a beta of 0.59. The firm’s fifty day simple moving average is $284.76 and its 200-day simple moving average is $278.08. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.40. Everest Re Group, Ltd. has a 1-year low of $244.57 and a 1-year high of $337.50.

Everest Re Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Wednesday, November 23rd will be issued a dividend of $1.65 per share. The ex-dividend date of this dividend is Tuesday, November 22nd. This represents a $6.60 dividend on an annualized basis and a dividend yield of 2.13%. Everest Re Group’s dividend payout ratio is currently 0.30%.

Analyst Upgrades and Downgrades

RE has been the subject of a number of research analyst reports. StockNews.com downgraded shares of Everest Re Group from a “buy” rating to a “hold” rating in a research report on Friday, November 4th. Morgan Stanley downgraded shares of Everest Re Group from an “overweight” rating to an “equal weight” rating and set a $320.00 price target on the stock. in a report on Tuesday, November 8th. Finally, Wells Fargo & Company raised their price target on shares of Everest Re Group from $322.00 to $333.00 and gave the company an “overweight” rating in a report on Friday, October 28th.

Insider Activity

In related news, Director John A. Weber sold 1,335 shares of Everest Re Group stock in a transaction on Wednesday, November 2nd. The shares were sold at an average price of $322.03, for a total value of $429,910.05. Following the transaction, the director now owns 6,409 shares in the company, valued at approximately $2,063,890.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director John A. Weber sold 1,335 shares of Everest Re Group stock in a transaction on Wednesday, November 2nd. The shares were sold at an average price of $322.03, for a total value of $429,910.05. Following the transaction, the director now owns 6,409 shares in the company, valued at approximately $2,063,890.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John A. Weber sold 2,391 shares of Everest Re Group stock in a transaction on Monday, October 31st. The stock was sold at an average price of $323.00, for a total transaction of $772,293.00. Following the completion of the transaction, the director now owns 7,744 shares in the company, valued at approximately $2,501,312. The disclosure for this sale can be found here. 1.40% of the stock is owned by insiders.

Everest Re Group Company 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.

Further Reading

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

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