American Century Companies Inc. increased its position in shares of Everest Re Group, Ltd. (NYSE:RE) by 40.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,927 shares of the insurance provider’s stock after purchasing an additional 559 shares during the quarter. American Century Companies Inc.’s holdings in Everest Re Group were worth $486,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. KB Financial Partners LLC purchased a new position in Everest Re Group during the first quarter worth about $28,000. Exchange Traded Concepts LLC purchased a new position in Everest Re Group in the second quarter valued at about $45,000. Mach 1 Financial Group Inc. boosted its stake in Everest Re Group by 35.9% in the second quarter. Mach 1 Financial Group Inc. now owns 193 shares of the insurance provider’s stock valued at $48,000 after acquiring an additional 51 shares during the last quarter. Eaton Vance Management purchased a new position in Everest Re Group in the first quarter valued at about $58,000. Finally, Key Financial Inc purchased a new position in Everest Re Group in the second quarter valued at about $60,000. Institutional investors and hedge funds own 94.06% of the company’s stock.
NYSE RE opened at $253.32 on Tuesday. The company’s 50 day moving average is $257.78 and its 200-day moving average is $257.20. Everest Re Group, Ltd. has a 12-month low of $193.02 and a 12-month high of $281.27. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.18. The firm has a market cap of $10.10 billion, a P/E ratio of 7.65 and a beta of 0.65.
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 15th. Investors of record on Wednesday, August 25th were issued a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date of this dividend was Tuesday, August 24th. Everest Re Group’s dividend payout ratio (DPR) is presently 83.11%.
A number of research analysts have weighed in on RE shares. Zacks Investment Research upgraded shares of Everest Re Group from a “hold” rating to a “strong-buy” rating and set a $293.00 target price on the stock in a research note on Tuesday, August 3rd. cut shares of Everest Re Group from a “buy” rating to a “neutral” rating and dropped their target price for the company from $287.00 to $270.00 in a research note on Friday, June 18th. Wolfe Research initiated coverage on shares of Everest Re Group in a research note on Monday, August 16th. They issued an “outperform” rating and a $330.00 target price on the stock. Finally, Citigroup lowered shares of Everest Re Group from a “buy” rating to a “neutral” rating in a research report on Friday, June 18th. They noted that the move was a valuation call. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $288.38.
Everest Re Group Profile
Everest Re Group Ltd. is a holding company, which engages in the provision of reinsurance and insurance services. It operates through the following 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 business, on both a treaty and facultative basis, through reinsurance brokers, as well as directly with ceding companies primarily within the U.S.
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