Sit Investment Associates Inc. Invests $11.04 Million in Everest Re Group Ltd (RE)

Sit Investment Associates Inc. acquired a new position in shares of Everest Re Group Ltd (NYSE:RE) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 49,900 shares of the insurance provider’s stock, valued at approximately $11,041,000. Sit Investment Associates Inc. owned about 0.12% of Everest Re Group at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. AXA boosted its holdings in Everest Re Group by 165.0% during the 3rd quarter. AXA now owns 119,964 shares of the insurance provider’s stock worth $27,399,000 after acquiring an additional 74,700 shares during the last quarter. GSA Capital Partners LLP purchased a new position in Everest Re Group during the 3rd quarter worth $1,800,000. Davis Selected Advisers boosted its holdings in Everest Re Group by 0.8% during the 3rd quarter. Davis Selected Advisers now owns 230,741 shares of the insurance provider’s stock worth $52,699,000 after acquiring an additional 1,870 shares during the last quarter. IFM Investors Pty Ltd purchased a new position in Everest Re Group during the 3rd quarter worth $243,000. Finally, California Public Employees Retirement System boosted its holdings in Everest Re Group by 7.0% during the 3rd quarter. California Public Employees Retirement System now owns 142,026 shares of the insurance provider’s stock worth $32,437,000 after acquiring an additional 9,280 shares during the last quarter. 92.76% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages recently weighed in on RE. Zacks Investment Research downgraded shares of Everest Re Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 10th. TheStreet downgraded shares of Everest Re Group from a “b” rating to a “c+” rating in a report on Monday, December 18th. Keefe, Bruyette & Woods reissued a “sell” rating and issued a $216.00 price target on shares of Everest Re Group in a report on Friday, November 3rd. Wells Fargo & Co set a $240.00 price target on shares of Everest Re Group and gave the stock a “hold” rating in a report on Monday, October 30th. Finally, UBS Group boosted their price target on shares of Everest Re Group from $230.00 to $245.00 and gave the stock a “neutral” rating in a report on Monday, November 6th. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $252.88.

In other Everest Re Group news, Director John A. Graf acquired 2,285 shares of the company’s stock in a transaction on Monday, January 8th. The shares were acquired at an average cost of $219.07 per share, with a total value of $500,574.95. Following the completion of the acquisition, the director now directly owns 5,550 shares in the company, valued at $1,215,838.50. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director William F. Galtney, Jr. acquired 6,000 shares of the company’s stock in a transaction on Monday, November 20th. The shares were acquired at an average cost of $225.29 per share, for a total transaction of $1,351,740.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 8,323 shares of company stock worth $1,860,654. Insiders own 1.30% of the company’s stock.

Shares of Everest Re Group Ltd (NYSE:RE) traded down $0.53 during trading hours on Friday, hitting $229.61. 346,787 shares of the company were exchanged, compared to its average volume of 371,047. The stock has a market cap of $9,437.81 and a P/E ratio of 36.05. Everest Re Group Ltd has a 52 week low of $208.81 and a 52 week high of $277.17. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.08.

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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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