Everest Re Group Ltd (NYSE:RE) has been assigned an average recommendation of “Hold” from the eleven brokerages that are presently covering the company, Marketbeat.com reports. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $245.86.
RE has been the subject of several research reports. Zacks Investment Research raised Everest Re Group from a “sell” rating to a “hold” rating in a report on Tuesday, January 15th. Wells Fargo & Co restated a “hold” rating and issued a $235.00 price target on shares of Everest Re Group in a research report on Thursday, January 24th. Deutsche Bank cut Everest Re Group from a “buy” rating to a “hold” rating in a research report on Thursday, March 28th. ValuEngine upgraded Everest Re Group from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. Finally, UBS Group boosted their price target on Everest Re Group from $236.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday, May 7th.
Shares of Everest Re Group stock traded down $0.84 on Friday, hitting $247.61. The stock had a trading volume of 59,810 shares, compared to its average volume of 282,158. Everest Re Group has a 52-week low of $201.09 and a 52-week high of $250.00. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.35 and a current ratio of 0.37. The company has a market capitalization of $10.04 billion, a P/E ratio of 53.25, a PEG ratio of 1.01 and a beta of 0.36.
Everest Re Group (NYSE:RE) last posted its earnings results on Monday, May 6th. The insurance provider reported $6.91 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $5.91 by $1.00. Everest Re Group had a return on equity of 3.08% and a net margin of 3.19%. The business had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the previous year, the business earned $5.34 EPS. The business’s quarterly revenue was up 12.3% on a year-over-year basis. As a group, analysts forecast that Everest Re Group will post 24.48 earnings per share for the current year.
In other Everest Re Group news, Director Roger M. Singer sold 900 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $223.69, for a total transaction of $201,321.00. Following the transaction, the director now owns 13,432 shares in the company, valued at approximately $3,004,604.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc grew its holdings in shares of Everest Re Group by 1.0% during the 3rd quarter. Vanguard Group Inc now owns 4,236,214 shares of the insurance provider’s stock valued at $967,848,000 after purchasing an additional 39,958 shares during the last quarter. BlackRock Inc. boosted its position in Everest Re Group by 0.8% during the 1st quarter. BlackRock Inc. now owns 3,409,589 shares of the insurance provider’s stock worth $736,334,000 after buying an additional 27,203 shares during the period. Boston Partners boosted its position in Everest Re Group by 4.9% during the 1st quarter. Boston Partners now owns 2,577,488 shares of the insurance provider’s stock worth $556,635,000 after buying an additional 120,615 shares during the period. Champlain Investment Partners LLC boosted its position in Everest Re Group by 4.4% during the 1st quarter. Champlain Investment Partners LLC now owns 889,250 shares of the insurance provider’s stock worth $192,042,000 after buying an additional 37,765 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in Everest Re Group by 326.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 828,753 shares of the insurance provider’s stock worth $189,345,000 after buying an additional 634,401 shares during the period. Institutional investors own 73.79% of the company’s stock.
About Everest Re Group
Everest Re Group, Ltd., through its subsidiaries, provides reinsurance and insurance products in the United States, Bermuda, and internationally. The company operates through four segments: U.S. Reinsurance, International, Bermuda, and Insurance. The U.S. Reinsurance segment writes property and casualty reinsurance; and specialty lines of business, including marine, aviation, surety, and accident and health insurance through reinsurance brokers, as well as directly with ceding companies in the United States.
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