Principal Financial Group Inc. Sells 1,928 Shares of Everest Re Group, Ltd. (NYSE:RE)

Principal Financial Group Inc. decreased its holdings in shares of Everest Re Group, Ltd. (NYSE:REGet Rating) by 3.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,111 shares of the insurance provider’s stock after selling 1,928 shares during the period. Principal Financial Group Inc.’s holdings in Everest Re Group were worth $14,046,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wealthfront Advisers LLC boosted its position in shares of Everest Re Group by 21.4% during the 2nd quarter. Wealthfront Advisers LLC now owns 879 shares of the insurance provider’s stock valued at $246,000 after purchasing an additional 155 shares in the last quarter. Redpoint Investment Management Pty Ltd boosted its position in shares of Everest Re Group by 30.6% during the 2nd quarter. Redpoint Investment Management Pty Ltd now owns 1,652 shares of the insurance provider’s stock valued at $463,000 after purchasing an additional 387 shares in the last quarter. Intersect Capital LLC acquired a new position in Everest Re Group during the 1st quarter worth approximately $252,000. Lingohr & Partner Asset Management GmbH acquired a new position in Everest Re Group during the 1st quarter worth approximately $501,000. Finally, Jupiter Asset Management Ltd. raised its stake in Everest Re Group by 85.5% during the 1st quarter. Jupiter Asset Management Ltd. now owns 128,367 shares of the insurance provider’s stock worth $38,687,000 after buying an additional 59,164 shares during the period. Institutional investors own 92.35% of the company’s stock.

Everest Re Group Stock Performance

Shares of Everest Re Group stock opened at $328.91 on Friday. The company has a market cap of $12.88 billion, a PE ratio of 24.56, a price-to-earnings-growth ratio of 1.04 and a beta of 0.59. Everest Re Group, Ltd. has a 52 week low of $244.57 and a 52 week high of $337.50. The business has a 50 day moving average price of $291.41 and a 200-day moving average price of $280.42. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.40.

Everest Re Group Dividend Announcement

The business also recently disclosed 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. This represents a $6.60 annualized dividend and a dividend yield of 2.01%. The ex-dividend date is Tuesday, November 22nd. Everest Re Group’s dividend payout ratio (DPR) is presently 49.29%.

Analyst Ratings Changes

RE has been the topic of a number of research reports. Wells Fargo & Company upped their price target 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. Morgan Stanley upped their price target on Everest Re Group from $320.00 to $345.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, StockNews.com downgraded Everest Re Group from a “buy” rating to a “hold” rating in a research note on Friday, November 4th.

Insider Transactions at Everest Re Group

In other news, VP Sanjoy Mukherjee sold 700 shares of the stock in a transaction that occurred on Thursday, November 17th. The stock was sold at an average price of $317.38, for a total value of $222,166.00. Following the completion of the sale, the vice president now directly owns 42,393 shares of the company’s stock, valued at $13,454,690.34. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, VP Sanjoy Mukherjee sold 700 shares of the stock in a transaction that occurred on Thursday, November 17th. The stock was sold at an average price of $317.38, for a total value of $222,166.00. Following the completion of the sale, the vice president now directly owns 42,393 shares of the company’s stock, valued at $13,454,690.34. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John A. Weber sold 2,391 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $2,501,312. The disclosure for this sale can be found here. Insiders sold a total of 4,426 shares of company stock valued at $1,424,369 over the last ninety days. 1.40% of the stock is currently 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.

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

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