Bridgefront Capital LLC Invests $206,000 in Everest Re Group, Ltd. (NYSE:RE)

Bridgefront Capital LLC acquired a new stake in Everest Re Group, Ltd. (NYSE:RE – Get Rating) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 786 shares of the insurance provider’s stock, valued at approximately $206,000.

A number of other hedge funds have also added to or reduced their stakes in RE. JPMorgan Chase & Co. increased its stake in Everest Re Group by 10.9% in the first quarter. JPMorgan Chase & Co. now owns 47,460 shares of the insurance provider’s stock valued at $14,302,000 after acquiring an additional 4,665 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in Everest Re Group by 14.5% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 1,437 shares of the insurance provider’s stock valued at $433,000 after acquiring an additional 182 shares during the last quarter. Panagora Asset Management Inc. increased its stake in Everest Re Group by 42.2% in the first quarter. Panagora Asset Management Inc. now owns 5,437 shares of the insurance provider’s stock valued at $1,639,000 after acquiring an additional 1,614 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Everest Re Group by 6.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,268 shares of the insurance provider’s stock valued at $1,588,000 after buying an additional 326 shares in the last quarter. Finally, Aviva PLC boosted its position in Everest Re Group by 46.2% in the first quarter. Aviva PLC now owns 18,334 shares of the insurance provider’s stock valued at $5,526,000 after buying an additional 5,797 shares in the last quarter. 92.38% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. BMO Capital Markets assumed coverage on shares of Everest Re Group in a research report on Thursday, January 19th. They issued a “market perform” rating and a $380.00 target price on the stock. Morgan Stanley raised their target price on shares of Everest Re Group from $320.00 to $345.00 and gave the company an “overweight” rating in a research report on Tuesday, November 22nd. StockNews.com began coverage on shares of Everest Re Group in a report on Thursday. They set a “buy” rating on the stock. Raymond James lifted their price target on shares of Everest Re Group from $385.00 to $415.00 and gave the stock an “outperform” rating in a report on Monday, February 13th. Finally, Wells Fargo & Company lifted their target price on shares of Everest Re Group from $408.00 to $426.00 and gave the stock an “overweight” rating in a research note on Friday, February 10th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $382.00.

Everest Re Group Stock Performance

Shares of RE stock opened at $354.25 on Friday. The stock has a market capitalization of $13.87 billion, a P/E ratio of 23.44, a PEG ratio of 0.25 and a beta of 0.60. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.37. The firm’s 50 day moving average is $362.96 and its 200 day moving average is $323.28. Everest Re Group, Ltd. has a 12 month low of $244.57 and a 12 month high of $394.99.

Everest Re Group (NYSE:RE – Get Rating) last posted its earnings results on Wednesday, February 8th. The insurance provider reported $12.21 earnings per share for the quarter, topping analysts’ consensus estimates of $9.29 by $2.92. The business had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.24 billion. Everest Re Group had a net margin of 4.96% and a return on equity of 12.36%. Everest Re Group’s revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $9.12 EPS. On average, sell-side analysts anticipate that Everest Re Group, Ltd. will post 45.63 earnings per share for the current year.

Everest Re Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 30th. Shareholders of record on Thursday, March 16th will be issued a $1.65 dividend. This represents a $6.60 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend is Wednesday, March 15th. Everest Re Group’s dividend payout ratio (DPR) is presently 43.68%.

About Everest Re Group

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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.