Everest Re Group, Ltd. (NYSE:RE) Shares Purchased by LPL Financial LLC

LPL Financial LLC increased its stake in shares of Everest Re Group, Ltd. (NYSE:RE – Get Rating) by 7.0% in the 4th quarter, Holdings Channel reports. The firm owned 5,642 shares of the insurance provider’s stock after purchasing an additional 367 shares during the period. LPL Financial LLC’s holdings in Everest Re Group were worth $1,869,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of RE. Americana Partners LLC grew its stake in Everest Re Group by 128.9% during the 4th quarter. Americana Partners LLC now owns 5,422 shares of the insurance provider’s stock valued at $1,231,000 after acquiring an additional 3,053 shares in the last quarter. Ontario Teachers Pension Plan Board grew its stake in Everest Re Group by 55.9% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 3,158 shares of the insurance provider’s stock valued at $829,000 after acquiring an additional 1,132 shares in the last quarter. National Bank of Canada FI grew its stake in Everest Re Group by 0.9% during the 4th quarter. National Bank of Canada FI now owns 4,135 shares of the insurance provider’s stock valued at $1,370,000 after acquiring an additional 35 shares in the last quarter. Gilman Hill Asset Management LLC grew its stake in Everest Re Group by 26.4% during the 4th quarter. Gilman Hill Asset Management LLC now owns 5,937 shares of the insurance provider’s stock valued at $1,967,000 after acquiring an additional 1,240 shares in the last quarter. Finally, Mutual of America Capital Management LLC grew its stake in Everest Re Group by 0.6% during the 3rd quarter. Mutual of America Capital Management LLC now owns 11,268 shares of the insurance provider’s stock valued at $2,957,000 after acquiring an additional 67 shares in the last quarter. Institutional investors and hedge funds own 92.38% of the company’s stock.

Everest Re Group Stock Performance

Everest Re Group stock opened at $365.01 on Wednesday. The firm has a 50 day simple moving average of $365.97 and a 200-day simple moving average of $353.76. Everest Re Group, Ltd. has a 1-year low of $244.57 and a 1-year high of $394.99. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.33 and a quick ratio of 0.33. The stock has a market cap of $14.34 billion, a price-to-earnings ratio of 21.65, a price-to-earnings-growth ratio of 0.28 and a beta of 0.60.

Everest Re Group (NYSE:RE – Get Rating) last issued its quarterly earnings data on Monday, May 1st. The insurance provider reported $11.31 EPS for the quarter, missing the consensus estimate of $12.48 by ($1.17). Everest Re Group had a return on equity of 12.98% and a net margin of 5.34%. The company had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.10 billion. During the same quarter in the prior year, the company posted $10.31 earnings per share. The business’s revenue was up 18.4% compared to the same quarter last year. On average, analysts expect that Everest Re Group, Ltd. will post 44 EPS for the current year.

Everest Re Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 16th. Stockholders of record on Wednesday, May 31st will be issued a $1.65 dividend. The ex-dividend date is Tuesday, May 30th. This represents a $6.60 annualized dividend and a dividend yield of 1.81%. Everest Re Group’s dividend payout ratio is currently 39.15%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on RE. Raymond James upped their price objective on shares of Everest Re Group from $385.00 to $415.00 and gave the company an “outperform” rating in a research note on Monday, February 13th. StockNews.com began coverage on shares of Everest Re Group in a research note on Thursday, May 18th. They set a “buy” rating for the company. Jefferies Financial Group increased their price target on shares of Everest Re Group from $455.00 to $468.00 and gave the company a “buy” rating in a research note on Monday, April 10th. Finally, Wells Fargo & Company increased their price target on shares of Everest Re Group from $435.00 to $445.00 in a research note on Wednesday, May 3rd. 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 presently has an average rating of “Moderate Buy” and a consensus target price of $410.60.

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.