Meritage Portfolio Management Lowers stake in Everest Re Group Ltd (RE)

Everest Re Group Ltd (RE) : Meritage Portfolio Management reduced its stake in Everest Re Group Ltd by 1.2% during the most recent quarter end. The investment management company now holds a total of 30,736 shares of Everest Re Group Ltd which is valued at $5,943,420 after selling 374 shares in Everest Re Group Ltd , the firm said in a disclosure report filed with the SEC on Apr 21, 2016.Everest Re Group Ltd makes up approximately 0.67% of Meritage Portfolio Management’s portfolio.

Everest Re Group Ltd closed down -1.03 points or -0.55% at $184.8 with 7,25,922 shares getting traded on Wednesday. Post opening the session at $185.52, the shares hit an intraday low of $184.41 and an intraday high of $187.99 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

Other Hedge Funds, Including , Strs Ohio sold out all of its stake in RE during the most recent quarter. The investment firm sold 1,477 shares of RE which is valued $285,607.First Quadrant L Pca reduced its stake in RE by selling 17,700 shares or 30.67% in the most recent quarter. The Hedge Fund company now holds 40,011 shares of RE which is valued at $7,736,927. Everest Re Group Ltd makes up approx 0.17% of First Quadrant L Pca’s portfolio. Btim Corp. added RE to its portfolio by purchasing 29,833 company shares during the most recent quarter which is valued at $5,768,807. Everest Re Group Ltd makes up approx 0.10% of Btim Corp.’s portfolio. Daiwa Sb Investments Ltd. added RE to its portfolio by purchasing 920 company shares during the most recent quarter which is valued at $181,866. Everest Re Group Ltd makes up approx 0.05% of Daiwa Sb Investments Ltd.’s portfolio.Fjarde Ap-fonden Fourth Swedish National Pension Fund boosted its stake in RE in the latest quarter, The investment management firm added 403 additional shares and now holds a total of 13,143 shares of Everest Re Group Ltd which is valued at $2,598,108. Everest Re Group Ltd makes up approx 0.06% of Fjarde Ap-fonden Fourth Swedish National Pension Fund’s portfolio.

On the company’s financial health, Everest Re Group Ltd reported $5.19 EPS for the quarter, missing the analyst consensus estimate by $ -0.35 based on the information available during the earnings call on Apr 25, 2016. Analyst had a consensus of $5.54.Analysts expectations of $ 1330.80.During the same quarter in the previous year, the company posted $7.34 EPS.

Everest Re Group Ltd. (Group) through its subsidiaries is engaged in the underwriting of reinsurance and insurance in the United States Bermuda and international markets. The Company underwrites reinsurance both through brokers and directly with ceding companies. The Company underwrites insurance principally through general agent relationships brokers and surplus lines brokers. The Company operates in segments: U.S. Reinsurance segment International segment Bermuda segment Insurance segment and Mt. Logan Re segment. The Company offers treaty and facultative reinsurance and admitted and non-admitted insurance. The Company’s products include the range of property and casualty reinsurance and insurance coverages including marine aviation surety errors and omissions liability (E&O) directors’ and officers’ liability (D&O) medical malpractice other specialty lines accident and health (A&H) and workers’ compensation.

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