Retirement Systems of Alabama Has $4.30 Million Holdings in Everest Re Group Ltd (RE)

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Retirement Systems of Alabama decreased its stake in Everest Re Group Ltd (NYSE:RE) by 2.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,840 shares of the insurance provider’s stock after selling 381 shares during the quarter. Retirement Systems of Alabama’s holdings in Everest Re Group were worth $4,304,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. IFM Investors Pty Ltd lifted its holdings in shares of Everest Re Group by 37.3% during the 2nd quarter. IFM Investors Pty Ltd now owns 2,019 shares of the insurance provider’s stock worth $465,000 after acquiring an additional 549 shares during the period. State of Alaska Department of Revenue increased its holdings in Everest Re Group by 7.3% during the second quarter. State of Alaska Department of Revenue now owns 12,690 shares of the insurance provider’s stock worth $2,924,000 after buying an additional 860 shares during the last quarter. Daiwa SB Investments Ltd. increased its holdings in Everest Re Group by 38.7% during the second quarter. Daiwa SB Investments Ltd. now owns 860 shares of the insurance provider’s stock worth $198,000 after buying an additional 240 shares during the last quarter. Lodestar Investment Counsel LLC IL increased its holdings in Everest Re Group by 12.0% during the second quarter. Lodestar Investment Counsel LLC IL now owns 57,760 shares of the insurance provider’s stock worth $13,313,000 after buying an additional 6,185 shares during the last quarter. Finally, Bank of Montreal Can increased its holdings in Everest Re Group by 22.6% during the second quarter. Bank of Montreal Can now owns 147,148 shares of the insurance provider’s stock worth $33,913,000 after buying an additional 27,160 shares during the last quarter. Institutional investors and hedge funds own 94.82% of the company’s stock.

A number of brokerages recently weighed in on RE. Wells Fargo & Co restated a “hold” rating and set a $240.00 target price on shares of Everest Re Group in a report on Thursday, July 19th. ValuEngine downgraded shares of Everest Re Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 24th. Credit Suisse Group started coverage on shares of Everest Re Group in a report on Tuesday, August 7th. They issued a “neutral” rating and a $239.00 price objective on the stock. Citigroup decreased their price objective on shares of Everest Re Group from $237.00 to $232.00 and set a “hold” rating on the stock in a report on Monday, October 22nd. Finally, TheStreet downgraded shares of Everest Re Group from a “b” rating to a “c+” rating in a report on Thursday, September 6th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. Everest Re Group presently has an average rating of “Hold” and a consensus target price of $255.00.

In other news, CEO John P. Doucette sold 900 shares of the business’s stock in a transaction dated Monday, August 13th. The shares were sold at an average price of $215.32, for a total value of $193,788.00. Following the completion of the sale, the chief executive officer now owns 22,620 shares of the company’s stock, valued at $4,870,538.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.30% of the company’s stock.

NYSE:RE opened at $223.51 on Wednesday. Everest Re Group Ltd has a one year low of $203.90 and a one year high of $264.88. The firm has a market capitalization of $8.96 billion, a price-to-earnings ratio of 24.56, a P/E/G ratio of 1.29 and a beta of 0.43. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.35 and a current ratio of 0.37.

Everest Re Group (NYSE:RE) last announced its earnings results on Monday, October 29th. The insurance provider reported $4.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.07 by $1.02. The company had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Everest Re Group had a net margin of 14.19% and a return on equity of 11.82%. During the same quarter in the previous year, the business posted ($16.43) earnings per share. On average, analysts predict that Everest Re Group Ltd will post 16.61 earnings per share for the current fiscal year.

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About Everest Re Group

Everest Re Group, Ltd., through its subsidiaries, provides reinsurance and insurance products. The company operates through the U.S. Reinsurance, International, Bermuda, and Insurance segments. 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 Unites States.

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

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