Marshall Wace LLP Takes $5.21 Million Position in Everest Re Group, Ltd. (NYSE:RE)

Marshall Wace LLP bought a new position in shares of Everest Re Group, Ltd. (NYSE:RE – Get Rating) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 19,857 shares of the insurance provider’s stock, valued at approximately $5,212,000.

Several other institutional investors and hedge funds have also bought and sold shares of RE. Vantage Consulting Group Inc grew its position in Everest Re Group by 4.6% during the third quarter. Vantage Consulting Group Inc now owns 771 shares of the insurance provider’s stock valued at $202,000 after buying an additional 34 shares during the period. Alaska Permanent Fund Corp increased its stake in shares of Everest Re Group by 0.4% in the third quarter. Alaska Permanent Fund Corp now owns 9,398 shares of the insurance provider’s stock worth $2,466,000 after buying an additional 35 shares during the period. Checchi Capital Advisers LLC boosted its holdings in shares of Everest Re Group by 2.8% during the 3rd quarter. Checchi Capital Advisers LLC now owns 1,300 shares of the insurance provider’s stock valued at $341,000 after buying an additional 36 shares in the last quarter. Macquarie Group Ltd. boosted its stake in Everest Re Group by 0.4% in the 3rd quarter. Macquarie Group Ltd. now owns 10,910 shares of the insurance provider’s stock worth $2,863,000 after purchasing an additional 44 shares in the last quarter. Finally, Signature Estate & Investment Advisors LLC boosted its stake in Everest Re Group by 0.6% in the 3rd quarter. Signature Estate & Investment Advisors LLC now owns 8,131 shares of the insurance provider’s stock worth $2,134,000 after purchasing an additional 49 shares in the last quarter. 92.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

RE has been the subject of a number of recent research reports. Raymond James boosted their price objective on Everest Re Group from $385.00 to $415.00 and gave the company an “outperform” rating in a research note on Monday, February 13th. BMO Capital Markets started coverage on Everest Re Group in a report on Thursday, January 19th. They set a “market perform” rating and a $380.00 price target on the stock. Morgan Stanley increased their target price on Everest Re Group from $320.00 to $345.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 22nd. Wells Fargo & Company increased their price target on Everest Re Group from $408.00 to $426.00 and gave the stock an “overweight” rating in a research report on Friday, February 10th. Finally, StockNews.com downgraded Everest Re Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 25th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $382.00.

Everest Re Group Stock Down 3.0 %

Everest Re Group stock opened at $346.14 on Tuesday. The stock has a market capitalization of $13.55 billion, a PE ratio of 22.91, a price-to-earnings-growth ratio of 0.25 and a beta of 0.60. Everest Re Group, Ltd. has a 12 month low of $244.57 and a 12 month high of $394.99. The business has a 50 day simple moving average of $362.21 and a 200-day simple moving average of $322.08. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.32 and a quick ratio of 0.32.

Everest Re Group (NYSE:RE – Get Rating) last issued its quarterly earnings results on Wednesday, February 8th. The insurance provider reported $12.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.29 by $2.92. The firm had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.24 billion. Everest Re Group had a return on equity of 12.36% and a net margin of 4.96%. The business’s revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the company posted $9.12 earnings per share. On average, analysts anticipate that Everest Re Group, Ltd. will post 46.03 EPS for the current fiscal year.

Everest Re Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 30th. Shareholders of record on Thursday, March 16th will be given a $1.65 dividend. The ex-dividend date is Wednesday, March 15th. This represents a $6.60 dividend on an annualized basis and a yield of 1.91%. Everest Re Group’s dividend payout ratio is currently 43.68%.

Insider Activity at Everest Re Group

In other Everest Re Group news, Director John A. Weber sold 2,333 shares of the company’s stock in a transaction dated Friday, December 16th. The stock was sold at an average price of $320.10, for a total transaction of $746,793.30. Following the sale, the director now owns 4,076 shares in the company, valued at approximately $1,304,727.60. The sale was disclosed in a document filed with the SEC, which is available 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. is a holding company, which engages in the provision of reinsurance and insurance services. It operates through the following segments: Reinsurance, and Insurance. The Reinsurance segment writes property and casualty reinsurance and specialty lines of business, including marine, aviation, surety, and accident and health business, on both a treaty and facultative basis, through reinsurance brokers, as well as directly with ceding companies primarily within the U.S.