Nepsis Inc., a reputed American diversified financial services company, has significantly increased its stake in global reinsurer Everest Re Group, Ltd. by 31.5%. The increment comes in the aftermath of its recent Form 13F filing with the Securities and Exchange Commission, which states that Nepsis Inc. now owns 27,566 shares of Everest Re Group’s stock amounting to $9,869,000. This number sets the firm’s presence in this industry heavyweight at approximately 3.3%, making it one of Nepsis Inc.’s biggest holdings.
Everest Re Group operates primarily through two segments: Reinsurance Operations and Insurance Operations. Through these business verticals, the company provides various insurance products and reinsurance products globally across markets in the United States, Bermuda, Ireland, Canada, Singapore, Switzerland and the United Kingdom.
The stock opened on Friday at $345.66 with a current P/E ratio of 20.50 and a PEG ratio of 0.28 – making it highly attractive to astute investors looking to expand their investment portfolios. Furthermore, the company has a market capitalization of over $13 billion – showcasing how it is among the top contenders in this fiercely competitive industry.
It is noteworthy that despite an economic environment fraught with uncertainty triggered by COVID-19 pandemic-induced lockdowns and travel bans hampering growth prospects worldwide; Everest Re Group continues to exhibit incredible resilience – something that only garners praise from both customers and stakeholders alike.
Over a period spanning twelve months up till now – Everest Re Group had reached its highest valuation point recorded at $394.99 while being lowest valued at $244.57 respectively – presenting potential investors ample opportunity for profit maximization owing to variability within gap analysis fueled scenarios present within investing opportunities surrounding this particular institutional avenue for wealth creation.
In conclusion – Nepsis Inc.’s decision further reinforces its commitment towards creating value for its stakeholders and clients by expanding its investment portfolio into a company that is well-positioned for long-term growth. Everest Re Group’s internationally tested product suite, financial strength, and resilient business practices make it an alluring investment opportunity with considerable upside potential despite challenging market conditions.
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Stakeholder Investment in Everest Re Group Increases while Analysts Give Buy Ratings
Everest Re Group, a provider of reinsurance and insurance products in various international markets, recently saw changes in stakeholder investment. Hedge funds and institutional investors currently own 94.39% of the stock. Trifecta Capital Advisors LLC gained a new stake in Everest Re Group during Q4, worth around $27,000; Ronald Blue Trust Inc. increased its stake by 57.6% to own 104 shares worth $27,000 after acquiring an additional 38 shares; Spire Wealth Management also acquired a new stake during Q4, valued at around $29,000; while Financial Management Professionals Inc.’s stake surged to 1,171%, currently owning 89 shares worth $32,000 after adding another 82 shares. Lastly, Belpointe Asset Management LLC gained a new stake during Q4 valued at approximately $39,000.
Equity research analysts have commented on the stock with Jefferies Financial Group giving it a “buy” rating and raising its price target from $455 to $468 per share last April. Citigroup has given Everest Re Group a “buy” rating as well with a price target of $406 per share while Morgan Stanley has assigned an “overweight” rating and set the target price at $429 per share for the insurance company’s stock. One research analyst rated the stock with a hold rating while six others have provided buy ratings for its growth potential.
According to Bloomberg estimates, Everest Re Group has a consensus rating of “Moderate Buy” with a consensus price target of nearly $423 per share as they maintain their position as one of the leading providers of reinsurance and insurance products across various geographic regions.
The company reported revenue growth for Q12017 reaching up to $3.33 billion compared to analyst projections pegged at around $3.10 billion while earnings came in at $11.31 EPS for the quarter, falling short of initial estimates by $1.17 per share. Everest Re Group managed to cautiously balance its net margin and return on equity with 5.34% and 12.98%, respectively. It is expected that the company will post around $43.69 earnings per share for their current fiscal year.
Everest Re Group recently announced a quarterly dividend to shareholders that was paid last June 16th at a value of $1.65 dividend per share. The ex-dividend date was on May 30th with stockholders who were recorded prior to May 31st being entitled for dividends. The annualized dividend payout ratio is currently at 39.15%. Everest Re Group continues to offer dividends alongside expanding opportunities for investment across its reinsurance and insurance product lines in various market sectors globally.