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Everest Re (RE) Boosts Shareholder Value, Hikes Dividend
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Everest Re Group, Ltd.’s board of directors has approved an 11% hike in its quarterly dividend in bid to return more profits to stockholders. The company will now make a quarterly payout of $1.55 per share compared with $1.40 per share paid on Aug 21, 2019. Shareholders of record as of Dec 4 will be rewarded with this dividend on or before Dec 24, 2019.
Prior to this, the company raised quarterly dividend by 8% to $1.40 per share last November. Historically, it boasts a consistent increase in dividends with the metric witnessing a five-year CAGR (2013-2018) of 23.9%. Its current dividend yield is 2.1%, which compares favorably with the industry average of 0.4%.
Everest Re has been increasing its payout each year and the recent dividend hike highlights its commitment toward a prudent capital management. This is a testament to Everest Re’s sustained operational performance over a period of time. In fact, the dividends paid to shareholders have increased 2.7x since third-quarter 2013.
The company’s solid financial status provides enough support to engage in shareholder-friendly moves like dividend hikes and share buyback authorization. Since 2006, the company has successfully returned $3.4 billion to shareholders.
Driven by a robust capital position and long-term operating performance, the property and casualty (P&C) insurer has been making consistent efforts to improve its long-term shareholder value and focus on sustained growth. Everest Re’s consistent share buyback is also driving the bottom line.
Shares of this Zacks Rank #3 (Hold) P&C insurer have outperformed the industry year to date. The stock has gained 22.9% compared with the industry’s growth of 9.2%. We expect a robust product portfolio, strategic initiatives, better investment results and a solid capital position to drive the shares in the near term.
Recently, the board members of Assurant, Inc. (AIZ - Free Report) approved a 5% hike in its quarterly dividend. The company will now pay a quarterly dividend of 63 cents per share compared with 60 cents paid on Sep 16, 2019.
Donegal Group Incorporation provides personal and commercial lines of property and casualty insurance to businesses and individuals in the Mid-Atlantic, Midwestern, New England, and southern states. The company beat estimates in the trailing four quarters by 248.34%, on average.
RLI Corporation underwrites property and casualty insurance in the United States and internationally. The company beat estimates in the trailing four quarters by 154.89%, on average.
Just Released: Zacks’ 7 Best Stocks for Today
Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.5% per year.
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Everest Re (RE) Boosts Shareholder Value, Hikes Dividend
Everest Re Group, Ltd.’s board of directors has approved an 11% hike in its quarterly dividend in bid to return more profits to stockholders. The company will now make a quarterly payout of $1.55 per share compared with $1.40 per share paid on Aug 21, 2019. Shareholders of record as of Dec 4 will be rewarded with this dividend on or before Dec 24, 2019.
Prior to this, the company raised quarterly dividend by 8% to $1.40 per share last November. Historically, it boasts a consistent increase in dividends with the metric witnessing a five-year CAGR (2013-2018) of 23.9%. Its current dividend yield is 2.1%, which compares favorably with the industry average of 0.4%.
Everest Re has been increasing its payout each year and the recent dividend hike highlights its commitment toward a prudent capital management. This is a testament to Everest Re’s sustained operational performance over a period of time. In fact, the dividends paid to shareholders have increased 2.7x since third-quarter 2013.
The company’s solid financial status provides enough support to engage in shareholder-friendly moves like dividend hikes and share buyback authorization. Since 2006, the company has successfully returned $3.4 billion to shareholders.
Driven by a robust capital position and long-term operating performance, the property and casualty (P&C) insurer has been making consistent efforts to improve its long-term shareholder value and focus on sustained growth. Everest Re’s consistent share buyback is also driving the bottom line.
Shares of this Zacks Rank #3 (Hold) P&C insurer have outperformed the industry year to date. The stock has gained 22.9% compared with the industry’s growth of 9.2%. We expect a robust product portfolio, strategic initiatives, better investment results and a solid capital position to drive the shares in the near term.
Recently, the board members of Assurant, Inc. (AIZ - Free Report) approved a 5% hike in its quarterly dividend. The company will now pay a quarterly dividend of 63 cents per share compared with 60 cents paid on Sep 16, 2019.
Stocks That Warrant a Look
Some better-ranked stocks from the same space are Donegal Group Incorporation (DGICA - Free Report) and RLI Corporation (RLI - Free Report) , both sporting a Zacks Rank # (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Donegal Group Incorporation provides personal and commercial lines of property and casualty insurance to businesses and individuals in the Mid-Atlantic, Midwestern, New England, and southern states. The company beat estimates in the trailing four quarters by 248.34%, on average.
RLI Corporation underwrites property and casualty insurance in the United States and internationally. The company beat estimates in the trailing four quarters by 154.89%, on average.
Just Released: Zacks’ 7 Best Stocks for Today
Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.5% per year.
These 7 were selected because of their superior potential for immediate breakout.
See these time-sensitive tickers now >>