Dimensional Fund Advisors LP Reduces Holdings in Everest Re Group Ltd (RE)
Dimensional Fund Advisors LP trimmed its position in shares of Everest Re Group Ltd (NYSE:RE) by 2.4% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 465,056 shares of the insurance provider’s stock after selling 11,631 shares during the period. Dimensional Fund Advisors LP owned approximately 1.13% of Everest Re Group worth $107,191,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in RE. Zeke Capital Advisors LLC grew its holdings in shares of Everest Re Group by 22.8% during the second quarter. Zeke Capital Advisors LLC now owns 12,637 shares of the insurance provider’s stock worth $2,913,000 after purchasing an additional 2,344 shares during the last quarter. Champlain Investment Partners LLC grew its holdings in shares of Everest Re Group by 23.0% during the first quarter. Champlain Investment Partners LLC now owns 444,645 shares of the insurance provider’s stock worth $114,194,000 after buying an additional 83,140 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of Everest Re Group during the first quarter worth about $4,684,000. World Asset Management Inc grew its holdings in shares of Everest Re Group by 8.3% during the second quarter. World Asset Management Inc now owns 2,770 shares of the insurance provider’s stock worth $638,000 after buying an additional 213 shares during the last quarter. Finally, BlackRock Inc. lifted its position in Everest Re Group by 0.6% in the first quarter. BlackRock Inc. now owns 3,274,550 shares of the insurance provider’s stock valued at $840,972,000 after purchasing an additional 18,030 shares during the period. Institutional investors own 92.95% of the company’s stock.
Shares of NYSE:RE traded up $2.69 during midday trading on Friday, hitting $223.38. 215,730 shares of the company’s stock traded hands, compared to its average volume of 289,535. Everest Re Group Ltd has a twelve month low of $206.68 and a twelve month high of $264.88. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $8.74 billion, a price-to-earnings ratio of 24.55, a PEG ratio of 1.24 and a beta of 0.44.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 19th. Shareholders of record on Wednesday, September 5th will be given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 2.33%. The ex-dividend date is Tuesday, September 4th. Everest Re Group’s dividend payout ratio (DPR) is 57.14%.
RE has been the subject of a number of research reports. Goldman Sachs Group initiated coverage on shares of Everest Re Group in a research report on Monday, June 18th. They set a “buy” rating and a $280.00 price target for the company. Morgan Stanley cut their price objective on Everest Re Group from $258.00 to $243.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 14th. Wells Fargo & Co set a $240.00 price objective on Everest Re Group and gave the stock a “hold” rating in a research report on Monday, May 21st. Zacks Investment Research upgraded Everest Re Group from a “hold” rating to a “buy” rating and set a $263.00 price objective for the company in a research report on Tuesday, July 17th. Finally, ValuEngine raised shares of Everest Re Group from a “sell” rating to a “hold” rating in a research note on Thursday, August 2nd. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Everest Re Group presently has a consensus rating of “Hold” and an average target price of $255.00.
In other Everest Re Group news, CEO John P. Doucette sold 900 shares of the company’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 transaction, the chief executive officer now owns 22,620 shares in the company, valued at approximately $4,870,538.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.30% of the stock is currently owned by corporate insiders.
Everest Re Group Company Profile
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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