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 6.36% during the most recent quarter end. The investment management company now holds a total of 42,778 shares of Everest Re Group Ltd which is valued at $8,119,264 after selling 2,904 shares in Everest Re Group Ltd , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Everest Re Group Ltd makes up approximately 1.46% of Cornercap Investment Counsel Inc’s portfolio.

Other Hedge Funds, Including , Profund Advisors boosted its stake in RE in the latest quarter, The investment management firm added 1,444 additional shares and now holds a total of 8,422 shares of Everest Re Group Ltd which is valued at $1,598,496. Everest Re Group Ltd makes up approx 0.07% of Profund Advisors’s portfolio.Reliance Trust Co Of Delaware boosted its stake in RE in the latest quarter, The investment management firm added 221 additional shares and now holds a total of 1,387 shares of Everest Re Group Ltd which is valued at $263,253. Everest Re Group Ltd makes up approx 0.02% of Reliance Trust Co Of Delaware’s portfolio. Trexquant Investment Lp added RE to its portfolio by purchasing 1,100 company shares during the most recent quarter which is valued at $208,780. Everest Re Group Ltd makes up approx 0.03% of Trexquant Investment Lp’s portfolio.First Quadrant L Pca reduced its stake in RE by selling 35,629 shares or 89.05% in the most recent quarter. The Hedge Fund company now holds 4,382 shares of RE which is valued at $787,095. Everest Re Group Ltd makes up approx 0.02% of First Quadrant L Pca’s portfolio.

Everest Re Group Ltd opened for trading at $190.46 and hit $191.74 on the upside on Monday, eventually ending the session at $191.35, with a gain of 0.67% or 1.27 points. The heightened volatility saw the trading volume jump to 1,57,273 shares. Company has a market cap of $8,015 M.

On the company’s financial health, Everest Re Group Ltd reported $3.17 EPS for the quarter, missing the analyst consensus estimate by $ -0.31 based on the information available during the earnings call on Jul 25, 2016. Analyst had a consensus of $3.48.Analysts expectations of $ 1182.25.During the same quarter in the previous year, the company posted $5.03 EPS.

Investors should note that on Aug 17, 2016, Everest Re Group Ltd announced a cash dividend of $1.1500. The company’s management has announced Sep 2, 2016 as the ex-dividend date and fixed the record date on Sep 7, 2016. The payable date has been fixed on Sep 21, 2016.

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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