Everest Re Group Ltd (RE) Position Cut by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC trimmed its stake in Everest Re Group Ltd (NYSE:RE) by 11.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 22,160 shares of the insurance provider’s stock after selling 2,900 shares during the quarter. Nisa Investment Advisors LLC owned about 0.05% of Everest Re Group worth $4,903,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in RE. Acrospire Investment Management LLC grew its stake in Everest Re Group by 66.7% during the second quarter. Acrospire Investment Management LLC now owns 500 shares of the insurance provider’s stock worth $127,000 after buying an additional 200 shares during the period. Valeo Financial Advisors LLC purchased a new stake in Everest Re Group during the third quarter worth approximately $137,000. ETRADE Capital Management LLC purchased a new stake in Everest Re Group during the second quarter worth approximately $201,000. Harbor Advisors LLC purchased a new stake in Everest Re Group during the third quarter worth approximately $228,000. Finally, Oppenheimer Asset Management Inc. purchased a new stake in Everest Re Group during the third quarter worth approximately $228,000. Hedge funds and other institutional investors own 93.37% of the company’s stock.

Several equities research analysts have issued reports on the stock. UBS Group decreased their price objective on shares of Everest Re Group from $240.00 to $230.00 and set a “neutral” rating for the company in a research note on Monday, October 2nd. Zacks Investment Research raised shares of Everest Re Group from a “hold” rating to a “strong-buy” rating and set a $253.00 target price on the stock in a research report on Friday, January 5th. Wells Fargo & Co reissued a “market perform” rating and set a $235.00 target price (down from $240.00) on shares of Everest Re Group in a research report on Tuesday, January 9th. Keefe, Bruyette & Woods reissued a “sell” rating and set a $230.00 target price on shares of Everest Re Group in a research report on Friday, October 13th. Finally, ValuEngine cut shares of Everest Re Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 5th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $245.44.

Everest Re Group Ltd (RE) opened at $222.75 on Wednesday. Everest Re Group Ltd has a 12-month low of $208.81 and a 12-month high of $277.17. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.33 and a current ratio of 0.33. The company has a market cap of $9,207.82, a price-to-earnings ratio of 53.38, a PEG ratio of 1.11 and a beta of 0.61.

Everest Re Group (NYSE:RE) last posted its earnings results on Monday, October 30th. The insurance provider reported ($16.43) EPS for the quarter, missing analysts’ consensus estimates of $3.68 by ($20.11). The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.62 billion. Everest Re Group had a return on equity of 2.22% and a net margin of 4.27%. The company’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same period in the previous year, the firm posted $6.53 earnings per share. research analysts anticipate that Everest Re Group Ltd will post 1.23 EPS for the current year.

In related news, Director William F. Galtney, Jr. purchased 6,000 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The shares were purchased at an average cost of $225.29 per share, with a total value of $1,351,740.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John A. Graf purchased 2,285 shares of the business’s stock in a transaction that occurred on Monday, January 8th. The stock was bought at an average cost of $219.07 per share, for a total transaction of $500,574.95. Following the completion of the acquisition, the director now directly owns 5,550 shares of the company’s stock, valued at $1,215,838.50. The disclosure for this purchase can be found here. Insiders purchased 8,323 shares of company stock worth $1,860,654 over the last ninety days. 1.30% of the stock is currently owned by corporate insiders.

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About Everest Re Group

Everest Re Group, Ltd., through its subsidiaries, is engaged in the underwriting of reinsurance and insurance in the United States, Bermuda and international markets. The Company operates in segments: U.S. Reinsurance, International, Bermuda and Insurance segment. The Company underwrites reinsurance both through brokers and directly with ceding companies.

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

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