Everest Re Group Ltd (NYSE:RE) was in 18 hedge funds’ portfolio at the end of December. RE has experienced a decrease in support from the world’s most elite money managers in recent months. There were 18 hedge funds in our database with RE positions at the end of the previous quarter.
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Keeping this in mind, we’re going to take a peek at the latest action regarding Everest Re Group Ltd (NYSE:RE).
Hedge fund activity in Everest Re Group Ltd (NYSE:RE)
In preparation for this year, a total of 18 of the hedge funds we track held long positions in this stock, a change of 0% from the previous quarter. With hedge funds’ capital changing hands, there exists a select group of key hedge fund managers who were increasing their stakes meaningfully.
According to our comprehensive database, Southeastern Asset Management, managed by Mason Hawkins, holds the largest position in Everest Re Group Ltd (NYSE:RE). Southeastern Asset Management has a $508 million position in the stock, comprising 2.2% of its 13F portfolio. On Southeastern Asset Management’s heels is Ken Griffin of Citadel Investment Group, with a $61 million position; 0% of its 13F portfolio is allocated to the stock. Other hedge funds that hold long positions include Richard Schimel’s Diamondback Capital, Ken Gray and Steve Walsh’s Bryn Mawr Capital and Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital.
Since Everest Re Group Ltd (NYSE:RE) has faced declining sentiment from hedge fund managers, we can see that there was a specific group of funds who sold off their full holdings at the end of the year. Intriguingly, Cliff Asness’s AQR Capital Management cut the biggest position of all the hedgies we monitor, totaling close to $54 million in stock.. Anil Stevens and Glenn Shapiro’s fund, Parameter Capital Management, also dumped its call options., about $6 million worth. These moves are interesting, as total hedge fund interest stayed the same (this is a bearish signal in our experience).
How are insiders trading Everest Re Group Ltd (NYSE:RE)?
Bullish insider trading is at its handiest when the company in focus has experienced transactions within the past 180 days. Over the latest six-month time frame, Everest Re Group Ltd (NYSE:RE) has experienced zero unique insiders buying, and 3 insider sales (see the details of insider trades here).
With the returns demonstrated by our research, everyday investors must always monitor hedge fund and insider trading sentiment, and Everest Re Group Ltd (NYSE:RE) applies perfectly to this mantra.
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