Smithfield Trust Co. Maintains Position in Everest Re Group, Ltd. (RE)

Smithfield Trust Co. held its position in Everest Re Group, Ltd. (NYSE:RE) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 604 shares of the insurance provider’s stock at the end of the second quarter. Smithfield Trust Co.’s holdings in Everest Re Group were worth $154,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. 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 valued at $914,021,000 after buying an additional 3,829,110 shares during the period. 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 valued at $713,734,000 after buying an additional 93,473 shares during the period. 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 valued at $399,045,000 after buying an additional 38,072 shares during the period. 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 valued at $301,566,000 after buying an additional 289,351 shares during the period. 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 during the period. Hedge funds and other institutional investors own 91.63% of the company’s stock.

Everest Re Group, Ltd. (NYSE RE) traded up 0.20% during midday trading on Friday, hitting $263.02. The stock had a trading volume of 659,477 shares. The company’s 50-day moving average price is $264.82 and its 200 day moving average price is $246.85. Everest Re Group, Ltd. has a 12-month low of $183.04 and a 12-month high of $277.17. The stock has a market cap of $10.80 billion, a P/E ratio of 9.02 and a beta of 0.63.

Everest Re Group (NYSE:RE) last issued its quarterly earnings results on Monday, July 24th. The insurance provider reported $5.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.24 by $0.27. Everest Re Group had a return on equity of 13.60% and a net margin of 19.65%. The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same period in the previous year, the company posted $3.17 earnings per share. On average, equities research analysts predict that Everest Re Group, Ltd. will post $21.48 earnings per share for the current fiscal year.

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A number of equities analysts have recently commented on RE shares. Zacks Investment Research upgraded Everest Re Group from a “hold” rating to a “buy” rating and set a $295.00 price objective on the stock in a report on Monday, July 17th. Deutsche Bank AG restated a “buy” rating and issued a $262.00 price objective (up from $240.00) on shares of Everest Re Group in a report on Saturday, April 29th. BidaskClub upgraded Everest Re Group from a “hold” rating to a “buy” rating in a report on Wednesday, July 5th. Morgan Stanley restated an “equal weight” rating and issued a $259.00 price objective (up from $250.00) on shares of Everest Re Group in a report on Thursday, July 6th. Finally, Barclays PLC raised their price objective on Everest Re Group from $269.00 to $299.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 25th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $250.25.

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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