Raymond James Trust N.A. Reduces Holdings in Everest Re Group, Ltd. (NYSE:RE)

Raymond James Trust N.A. trimmed its position in shares of Everest Re Group, Ltd. (NYSE:RE) by 0.4% in the 3rd quarter, Holdings Channel reports. The firm owned 17,056 shares of the insurance provider’s stock after selling 61 shares during the period. Raymond James Trust N.A.’s holdings in Everest Re Group were worth $3,369,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. increased its position in shares of Everest Re Group by 4.1% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 1,438 shares of the insurance provider’s stock worth $296,000 after purchasing an additional 57 shares in the last quarter. Synovus Financial Corp boosted its stake in Everest Re Group by 1.5% during the second quarter. Synovus Financial Corp now owns 3,829 shares of the insurance provider’s stock worth $790,000 after buying an additional 57 shares during the last quarter. New Mexico Educational Retirement Board boosted its stake in Everest Re Group by 3.8% during the second quarter. New Mexico Educational Retirement Board now owns 2,700 shares of the insurance provider’s stock worth $557,000 after buying an additional 100 shares during the last quarter. FinTrust Capital Advisors LLC boosted its stake in Everest Re Group by 96.6% during the second quarter. FinTrust Capital Advisors LLC now owns 228 shares of the insurance provider’s stock worth $47,000 after buying an additional 112 shares during the last quarter. Finally, Gilman Hill Asset Management LLC boosted its stake in Everest Re Group by 3.7% during the second quarter. Gilman Hill Asset Management LLC now owns 3,353 shares of the insurance provider’s stock worth $691,000 after buying an additional 120 shares during the last quarter. Hedge funds and other institutional investors own 93.28% of the company’s stock.

RE stock opened at $200.80 on Friday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $8.03 billion, a PE ratio of 15.38, a P/E/G ratio of 1.59 and a beta of 0.45. Everest Re Group, Ltd. has a 12-month low of $157.32 and a 12-month high of $294.31. The business’s fifty day moving average price is $206.48 and its 200 day moving average price is $204.26.

Everest Re Group (NYSE:RE) last posted its quarterly earnings data on Wednesday, August 5th. The insurance provider reported $2.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.63 by $0.44. The firm had revenue of $2.05 billion for the quarter. Everest Re Group had a return on equity of 5.74% and a net margin of 6.24%. During the same quarter in the prior year, the firm posted $7.85 EPS. Research analysts predict that Everest Re Group, Ltd. will post 12.48 EPS for the current fiscal year.

In related news, CEO John P. Doucette sold 994 shares of the business’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $223.05, for a total value of $221,711.70. Following the sale, the chief executive officer now owns 24,704 shares in the company, valued at approximately $5,510,227.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO John P. Doucette sold 1,006 shares of the company’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $215.75, for a total value of $217,044.50. Following the sale, the chief executive officer now owns 23,698 shares in the company, valued at approximately $5,112,843.50. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by insiders.

A number of equities analysts have weighed in on the company. TheStreet raised Everest Re Group from a “c+” rating to a “b” rating in a research note on Wednesday, August 5th. Bank of America assumed coverage on Everest Re Group in a research note on Monday, July 6th. They set a “buy” rating and a $258.00 price objective on the stock. BofA Securities assumed coverage on Everest Re Group in a research note on Monday, July 6th. They set a “buy” rating and a $258.00 price objective on the stock. UBS Group boosted their price objective on Everest Re Group from $235.00 to $246.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. Finally, Zacks Investment Research lowered Everest Re Group from a “hold” rating to a “strong sell” rating and set a $172.00 price target on the stock. in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. Everest Re Group has an average rating of “Hold” and an average price target of $247.67.

Everest Re Group Company Profile

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

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

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