Texas Yale Capital Corp. Makes New Investment in Everest Re Group Ltd (NYSE:RE)

Texas Yale Capital Corp. purchased a new position in Everest Re Group Ltd (NYSE:RE) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 810 shares of the insurance provider’s stock, valued at approximately $200,000.

A number of other institutional investors have also modified their holdings of the business. CWM LLC raised its holdings in Everest Re Group by 129.9% during the 1st quarter. CWM LLC now owns 23,568 shares of the insurance provider’s stock worth $5,090,000 after buying an additional 13,317 shares during the period. PNC Financial Services Group Inc. raised its holdings in Everest Re Group by 2.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,010 shares of the insurance provider’s stock worth $1,515,000 after buying an additional 170 shares during the period. Nomura Asset Management Co. Ltd. raised its holdings in Everest Re Group by 8.7% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 35,377 shares of the insurance provider’s stock worth $7,640,000 after buying an additional 2,837 shares during the period. Diversified Trust Co raised its holdings in Everest Re Group by 12.2% during the 2nd quarter. Diversified Trust Co now owns 2,255 shares of the insurance provider’s stock worth $557,000 after buying an additional 245 shares during the period. Finally, Pennsylvania Trust Co acquired a new stake in Everest Re Group during the 1st quarter worth about $340,000. Hedge funds and other institutional investors own 90.45% of the company’s stock.

Several analysts have issued reports on RE shares. Morgan Stanley cut their price objective on Everest Re Group from $265.00 to $260.00 and set an “equal weight” rating on the stock in a report on Friday, August 2nd. ValuEngine downgraded Everest Re Group from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Zacks Investment Research downgraded Everest Re Group from a “buy” rating to a “hold” rating in a report on Wednesday, May 15th. UBS Group boosted their price objective on Everest Re Group from $252.00 to $257.00 and gave the stock a “neutral” rating in a report on Wednesday, July 10th. Finally, Barclays boosted their price objective on Everest Re Group from $260.00 to $285.00 and gave the stock an “overweight” rating in a report on Wednesday, May 22nd. Eight investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Everest Re Group presently has an average rating of “Hold” and an average price target of $252.57.

In other news, Director Meryl D. Hartzband purchased 500 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was acquired at an average price of $242.31 per share, with a total value of $121,155.00. Following the purchase, the director now owns 9,570 shares in the company, valued at approximately $2,318,906.70. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jonathan Zaffino sold 1,048 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $248.01, for a total value of $259,914.48. Following the completion of the sale, the senior vice president now directly owns 9,617 shares of the company’s stock, valued at approximately $2,385,112.17. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.

NYSE:RE traded up $0.49 on Friday, hitting $252.09. 29,328 shares of the company’s stock traded hands, compared to its average volume of 270,764. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.37 and a current ratio of 0.37. Everest Re Group Ltd has a 1 year low of $201.09 and a 1 year high of $260.51. The firm’s 50-day simple moving average is $251.88. The firm has a market capitalization of $9.97 billion, a P/E ratio of 54.21, a PEG ratio of 0.98 and a beta of 0.25.

Everest Re Group (NYSE:RE) last released its earnings results on Monday, July 29th. The insurance provider reported $7.85 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $6.66 by $1.19. Everest Re Group had a return on equity of 6.37% and a net margin of 6.67%. The company had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter in the previous year, the business posted $0.98 EPS. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. Analysts predict that Everest Re Group Ltd will post 24.94 earnings per share for the current fiscal year.

Everest Re Group Company Profile

Everest Re Group, Ltd., through its subsidiaries, provides reinsurance and insurance products in the United States, Bermuda, and internationally. The company operates through four segments: U.S. Reinsurance, International, Bermuda, and Insurance. The U.S. Reinsurance segment writes property and casualty reinsurance; and specialty lines of business, including marine, aviation, surety, and accident and health insurance through reinsurance brokers, as well as directly with ceding companies in the United States.

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

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