Cornercap Investment Counsel Inc Lowers stake in Everest Re Group Ltd (RE)

Everest Re Group Ltd (RE) : Cornercap Investment Counsel Inc reduced its stake in Everest Re Group Ltd by 9.88% during the most recent quarter end. The investment management company now holds a total of 45,682 shares of Everest Re Group Ltd which is valued at $8.4 Million after selling 5,010 shares in Everest Re Group Ltd , the firm said in a disclosure report filed with the SEC on May 12, 2016.Everest Re Group Ltd makes up approximately 1.61% of Cornercap Investment Counsel Inc’s portfolio.

Other Hedge Funds, Including , Thrivent Financial For Lutherans boosted its stake in RE in the latest quarter, The investment management firm added 480 additional shares and now holds a total of 5,460 shares of Everest Re Group Ltd which is valued at $1 Million. Everest Re Group Ltd makes up approx 0.01% of Thrivent Financial For Lutherans’s portfolio.Orinda Asset Management boosted its stake in RE in the latest quarter, The investment management firm added 377 additional shares and now holds a total of 915 shares of Everest Re Group Ltd which is valued at $166,100. Everest Re Group Ltd makes up approx 0.29% of Orinda Asset Management’s portfolio. Checchi Capital Advisers added RE to its portfolio by purchasing 598 company shares during the most recent quarter which is valued at $108,555. Everest Re Group Ltd makes up approx 0.03% of Checchi Capital Advisers’s portfolio. Moody Lynn Lieberson sold out all of its stake in RE during the most recent quarter. The investment firm sold 1,100 shares of RE which is valued $199,683.World Asset Management Inc boosted its stake in RE in the latest quarter, The investment management firm added 59 additional shares and now holds a total of 2,416 shares of Everest Re Group Ltd which is valued at $446,718. Everest Re Group Ltd makes up approx 0.02% of World Asset Management Inc’s portfolio.

Everest Re Group Ltd opened for trading at $180.48 and hit $182.03 on the upside on Friday, eventually ending the session at $180.06, with a gain of 0.09% or 0.17 points. The heightened volatility saw the trading volume jump to 7,19,485 shares. Company has a market cap of $7,624 M.

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.

Investors should note that on May 18, 2016, Everest Re Group Ltd announced a cash dividend of $1.1500. The company’s management has announced May 27, 2016 as the ex-dividend date and fixed the record date on Jun 1, 2016. The payable date has been fixed on Jun 15, 2016.

Many Wall Street Analysts have commented on Everest Re Group Ltd. Company shares were Reiterated by Deutsche Bank on May 12, 2016 to “Buy”, Firm has raised the Price Target to $ 219 from a previous price target of $211 .

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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