Everest Re Group, Ltd. (NYSE:RE) Shares Acquired by Credit Suisse AG

Posted by on Jun 8th, 2023

Credit Suisse AG boosted its position in Everest Re Group, Ltd. (NYSE:RE – Get Rating) by 2.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,951 shares of the insurance provider’s stock after buying an additional 1,404 shares during the period. Credit Suisse AG owned approximately 0.17% of Everest Re Group worth $22,510,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Texas Yale Capital Corp. acquired a new stake in shares of Everest Re Group in the 4th quarter valued at approximately $215,000. Geode Capital Management LLC lifted its stake in shares of Everest Re Group by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 816,922 shares of the insurance provider’s stock worth $270,137,000 after purchasing an additional 8,060 shares during the period. American Century Companies Inc. grew its position in shares of Everest Re Group by 13.0% in the fourth quarter. American Century Companies Inc. now owns 126,264 shares of the insurance provider’s stock valued at $41,827,000 after purchasing an additional 14,546 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Everest Re Group by 14.9% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,620 shares of the insurance provider’s stock worth $2,193,000 after buying an additional 856 shares during the period. Finally, Fuller & Thaler Asset Management Inc. grew its holdings in Everest Re Group by 12.4% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 15,047 shares of the insurance provider’s stock valued at $4,985,000 after buying an additional 1,656 shares during the period. 92.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RE has been the subject of several research analyst reports. StockNews.com began coverage on shares of Everest Re Group in a research report on Thursday, May 18th. They set a “buy” rating for the company. Jefferies Financial Group lifted their price objective on Everest Re Group from $455.00 to $468.00 and gave the company a “buy” rating in a research note on Monday, April 10th. Raymond James increased their target price on shares of Everest Re Group from $385.00 to $415.00 and gave the stock an “outperform” rating in a research report on Monday, February 13th. Finally, Wells Fargo & Company boosted their price objective on shares of Everest Re Group from $435.00 to $445.00 in a research note on Wednesday, May 3rd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $410.60.

Everest Re Group Stock Performance

RE stock opened at $348.95 on Thursday. Everest Re Group, Ltd. has a 12-month low of $244.57 and a 12-month high of $394.99. The stock’s 50 day simple moving average is $366.23 and its 200 day simple moving average is $355.82. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.34. The firm has a market cap of $13.71 billion, a P/E ratio of 20.70, a P/E/G ratio of 0.28 and a beta of 0.61.

Everest Re Group (NYSE:RE – Get Rating) last issued its quarterly earnings data on Monday, May 1st. The insurance provider reported $11.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $12.48 by ($1.17). Everest Re Group had a return on equity of 12.98% and a net margin of 5.34%. The business had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same quarter in the prior year, the firm posted $10.31 earnings per share. The business’s quarterly revenue was up 18.4% on a year-over-year basis. As a group, equities research analysts predict that Everest Re Group, Ltd. will post 43.69 EPS for the current year.

Everest Re Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 16th. Stockholders of record on Wednesday, May 31st will be paid a $1.65 dividend. This represents a $6.60 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date is Tuesday, May 30th. Everest Re Group’s dividend payout ratio is currently 39.15%.

Everest Re Group Profile

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Everest Re Group Ltd. is a holding company, which engages in the provision of reinsurance and insurance services. It operates through the following segments: Reinsurance, and Insurance. The Reinsurance segment writes property and casualty reinsurance and specialty lines of business, including marine, aviation, surety, and accident and health business, on both a treaty and facultative basis, through reinsurance brokers, as well as directly with ceding companies primarily within the U.S.

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

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