Pictet Asset Management SA Sells 1,665 Shares of Everest Re Group, Ltd. (NYSE:RE)

Pictet Asset Management SA reduced its position in Everest Re Group, Ltd. (NYSE:REGet Rating) by 8.9% in the 2nd quarter, Holdings Channel reports. The firm owned 17,146 shares of the insurance provider’s stock after selling 1,665 shares during the quarter. Pictet Asset Management SA’s holdings in Everest Re Group were worth $4,806,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of RE. Vanguard Group Inc. lifted its position in Everest Re Group by 5.4% in the first 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 period. American Century Companies Inc. lifted its position in Everest Re Group by 1,849.0% in the first quarter. American Century Companies Inc. now owns 97,491 shares of the insurance provider’s stock worth $29,382,000 after purchasing an additional 92,489 shares during the period. Los Angeles Capital Management LLC lifted its position in Everest Re Group by 15.4% in the first quarter. Los Angeles Capital Management LLC now owns 688,906 shares of the insurance provider’s stock worth $207,622,000 after purchasing an additional 92,027 shares during the period. Boston Partners raised its stake in Everest Re Group by 4.1% during the first quarter. Boston Partners now owns 2,341,749 shares of the insurance provider’s stock worth $705,655,000 after acquiring an additional 91,251 shares in the last quarter. Finally, State Street Corp raised its stake in Everest Re Group by 4.4% during the first quarter. State Street Corp now owns 2,049,747 shares of the insurance provider’s stock worth $617,753,000 after acquiring an additional 86,154 shares in the last quarter. 92.35% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Morgan Stanley lowered Everest Re Group from an “overweight” rating to an “equal weight” rating and set a $320.00 price objective for the company. in a research note on Tuesday, November 8th. Wells Fargo & Company increased their price objective on Everest Re Group from $322.00 to $333.00 and gave the stock an “overweight” rating in a research note on Friday, October 28th. Finally, StockNews.com lowered Everest Re Group from a “buy” rating to a “hold” rating in a research note on Friday, November 4th.

Insider Activity

In other news, Director John A. Weber sold 2,391 shares of the firm’s stock in a transaction on Monday, October 31st. The stock was sold at an average price of $323.00, for a total value of $772,293.00. Following the completion of the sale, the director now directly owns 7,744 shares in the company, valued at $2,501,312. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director John A. Weber sold 2,391 shares of the firm’s stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $323.00, for a total value of $772,293.00. Following the transaction, the director now owns 7,744 shares in the company, valued at $2,501,312. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John A. Weber sold 1,335 shares of the firm’s stock in a transaction dated Wednesday, November 2nd. The shares were sold at an average price of $322.03, for a total value of $429,910.05. Following the completion of the transaction, the director now owns 6,409 shares in the company, valued at approximately $2,063,890.27. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by corporate insiders.

Everest Re Group Stock Performance

Shares of NYSE:RE opened at $323.49 on Friday. Everest Re Group, Ltd. has a twelve month low of $244.57 and a twelve month high of $337.50. The firm has a market cap of $12.67 billion, a PE ratio of 24.16, a price-to-earnings-growth ratio of 1.01 and a beta of 0.59. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.31 and a current ratio of 0.31. The business has a fifty day moving average of $287.77 and a 200-day moving average of $279.23.

Everest Re Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Wednesday, November 23rd will be paid a $1.65 dividend. 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 2.04%. Everest Re Group’s dividend payout ratio (DPR) is presently 0.30%.

Everest Re Group Company Profile

(Get Rating)

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

Want to see what other hedge funds are holding RE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Everest Re Group, Ltd. (NYSE:REGet Rating).

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

Receive News & Ratings for Everest Re Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Everest Re Group and related companies with MarketBeat.com's FREE daily email newsletter.