Northern Trust Corp boosted its holdings in shares of Everest Re Group Ltd (NYSE:RE) by 0.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 503,334 shares of the insurance provider’s stock after acquiring an additional 2,859 shares during the period. Northern Trust Corp owned about 1.24% of Everest Re Group worth $124,414,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also modified their holdings of RE. Oakworth Capital Inc. bought a new stake in shares of Everest Re Group in the 2nd quarter valued at about $34,000. Advisory Services Network LLC bought a new stake in shares of Everest Re Group in the 2nd quarter valued at about $51,000. Asset Dedication LLC bought a new stake in shares of Everest Re Group in the 2nd quarter valued at about $62,000. Private Ocean LLC bought a new stake in shares of Everest Re Group in the 2nd quarter valued at about $69,000. Finally, First Interstate Bank boosted its holdings in shares of Everest Re Group by 55.4% in the 2nd quarter. First Interstate Bank now owns 359 shares of the insurance provider’s stock valued at $89,000 after buying an additional 128 shares in the last quarter. Institutional investors own 91.81% of the company’s stock.
RE stock traded up $3.28 during trading on Friday, reaching $254.98. The company had a trading volume of 7,003 shares, compared to its average volume of 265,989. The firm has a 50-day simple moving average of $247.77 and a 200-day simple moving average of $239.90. The company has a market cap of $10.23 billion, a price-to-earnings ratio of 54.82, a price-to-earnings-growth ratio of 1.01 and a beta of 0.25. 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 twelve month low of $201.09 and a twelve month high of $260.51.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend is Tuesday, September 3rd. Everest Re Group’s dividend payout ratio is presently 120.43%.
A number of analysts recently commented on the stock. Morgan Stanley lowered their target price on shares of Everest Re Group from $265.00 to $260.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. UBS Group lifted their target price on shares of Everest Re Group from $252.00 to $257.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 10th. Barclays set a $300.00 target price on shares of Everest Re Group and gave the stock a “buy” rating in a research note on Monday, August 12th. Finally, ValuEngine cut shares of Everest Re Group from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Eight investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $254.71.
In other news, Director Meryl D. Hartzband bought 500 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was purchased at an average cost of $242.31 per share, with a total value of $121,155.00. Following the acquisition, the director now directly owns 9,570 shares in the company, valued at $2,318,906.70. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO John P. Doucette sold 5,000 shares of Everest Re Group stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $251.97, for a total transaction of $1,259,850.00. Following the transaction, the chief executive officer now directly owns 22,747 shares of the company’s stock, valued at $5,731,561.59. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.
Everest Re Group 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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