Texas Permanent School Fund Has $1.59 Million Position in Everest Re Group, Ltd. (NYSE:RE)

Texas Permanent School Fund lowered its position in Everest Re Group, Ltd. (NYSE:RE) by 7.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,800 shares of the insurance provider’s stock after selling 537 shares during the quarter. Texas Permanent School Fund’s holdings in Everest Re Group were worth $1,592,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Boston Partners increased its position in Everest Re Group by 3.2% in the 3rd quarter. Boston Partners now owns 2,227,747 shares of the insurance provider’s stock valued at $440,070,000 after acquiring an additional 68,858 shares during the period. Victory Capital Management Inc. increased its holdings in Everest Re Group by 3.5% in the fourth quarter. Victory Capital Management Inc. now owns 1,222,788 shares of the insurance provider’s stock valued at $286,242,000 after purchasing an additional 41,301 shares during the period. Champlain Investment Partners LLC increased its holdings in Everest Re Group by 0.9% in the third quarter. Champlain Investment Partners LLC now owns 1,207,675 shares of the insurance provider’s stock valued at $238,564,000 after purchasing an additional 10,240 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Everest Re Group by 1.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 798,476 shares of the insurance provider’s stock valued at $157,729,000 after buying an additional 11,434 shares during the period. Finally, Lord Abbett & CO. LLC increased its stake in shares of Everest Re Group by 57.2% in the third quarter. Lord Abbett & CO. LLC now owns 676,473 shares of the insurance provider’s stock valued at $133,631,000 after buying an additional 246,214 shares during the period. 94.02% of the stock is owned by institutional investors.

RE has been the subject of several recent analyst reports. Smith Barney Citigroup raised Everest Re Group from a “neutral” rating to a “buy” rating and raised their target price for the stock from $245.00 to $275.00 in a research note on Tuesday, December 8th. Credit Suisse Group raised their price objective on shares of Everest Re Group from $218.00 to $235.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 10th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upgraded shares of Everest Re Group from a “neutral” rating to a “buy” rating and raised their price target for the stock from $245.00 to $275.00 in a report on Tuesday, December 8th. Finally, Morgan Stanley raised their price target on shares of Everest Re Group from $260.00 to $308.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 12th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. Everest Re Group has an average rating of “Hold” and a consensus price target of $250.55.

Shares of NYSE RE opened at $241.81 on Tuesday. The stock has a market capitalization of $9.66 billion, a P/E ratio of 14.59, a P/E/G ratio of 1.10 and a beta of 0.58. The company has a 50-day moving average price of $231.00 and a 200-day moving average price of $221.56. Everest Re Group, Ltd. has a 1 year low of $157.32 and a 1 year high of $287.44. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.35 and a quick ratio of 0.35.

Everest Re Group (NYSE:RE) last released its quarterly earnings results on Sunday, February 7th. The insurance provider reported ($1.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.03) by ($0.09). Everest Re Group had a net margin of 7.38% and a return on equity of 5.19%. During the same period last year, the company posted $3.20 EPS. As a group, equities research analysts anticipate that Everest Re Group, Ltd. will post 12.81 earnings per share for the current fiscal year.

About Everest Re Group

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.

Further Reading: Derivative

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

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