2,450 Shares in Everest Re Group, Ltd. (NYSE:RE) Acquired by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC acquired a new position in Everest Re Group, Ltd. (NYSE:RE) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,450 shares of the insurance provider’s stock, valued at approximately $624,000.

A number of other large investors have also recently modified their holdings of RE. BlackRock Inc. increased its position in Everest Re Group by 4,778.3% in the first quarter. BlackRock Inc. now owns 3,909,246 shares of the insurance provider’s stock worth $914,021,000 after buying an additional 3,829,110 shares in the last quarter. Vanguard Group Inc. increased its position in Everest Re Group by 3.2% in the first quarter. Vanguard Group Inc. now owns 3,052,626 shares of the insurance provider’s stock worth $713,734,000 after buying an additional 93,473 shares in the last quarter. State Street Corp increased its position in Everest Re Group by 2.3% in the first quarter. State Street Corp now owns 1,706,720 shares of the insurance provider’s stock worth $399,045,000 after buying an additional 38,072 shares in the last quarter. AQR Capital Management LLC increased its position in Everest Re Group by 28.9% in the first quarter. AQR Capital Management LLC now owns 1,289,792 shares of the insurance provider’s stock worth $301,566,000 after buying an additional 289,351 shares in the last quarter. Finally, APG Asset Management N.V. increased its position in Everest Re Group by 2.5% in the first quarter. APG Asset Management N.V. now owns 728,862 shares of the insurance provider’s stock worth $170,415,000 after buying an additional 17,800 shares in the last quarter. 91.63% of the stock is owned by institutional investors and hedge funds.

Everest Re Group, Ltd. (NYSE RE) traded up 0.20% on Friday, reaching $263.02. 659,477 shares of the company traded hands. The stock has a market capitalization of $10.80 billion, a price-to-earnings ratio of 9.02 and a beta of 0.63. Everest Re Group, Ltd. has a 1-year low of $183.04 and a 1-year high of $277.17. The stock’s 50-day moving average is $264.82 and its 200-day moving average is $246.85.

Everest Re Group (NYSE:RE) last released its earnings results on Monday, July 24th. The insurance provider reported $5.51 EPS for the quarter, topping the consensus estimate of $5.24 by $0.27. Everest Re Group had a net margin of 19.65% and a return on equity of 13.60%. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the previous year, the firm earned $3.17 earnings per share. Equities research analysts expect that Everest Re Group, Ltd. will post $21.48 EPS for the current year.

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A number of research analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Everest Re Group from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. BidaskClub raised shares of Everest Re Group from a “hold” rating to a “buy” rating in a research report on Wednesday, July 5th. ValuEngine raised shares of Everest Re Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 2nd. Barclays PLC increased their target price on shares of Everest Re Group from $269.00 to $299.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 25th. Finally, UBS AG reissued a “neutral” rating and set a $256.00 target price (up from $251.00) on shares of Everest Re Group in a research report on Tuesday, August 1st. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $250.25.

Everest Re Group Company Profile

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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