Everest Re Group (NYSE:RE) had its price target increased by Morgan Stanley from $248.00 to $265.00 in a research note released on Friday morning, BenzingaRatingsTable reports. Morgan Stanley currently has an equal weight rating on the insurance provider’s stock.
Other equities research analysts have also issued research reports about the company. Zacks Investment Research lowered HEXO from a hold rating to a sell rating in a research report on Wednesday, May 15th. Barclays set a $34.00 price objective on DCP Midstream and gave the stock a hold rating in a research report on Wednesday, May 22nd. Deutsche Bank lowered Everest Re Group from a buy rating to a hold rating in a research report on Thursday, March 28th. ValuEngine upgraded Yirendai from a strong sell rating to a sell rating in a research report on Friday, May 3rd. Finally, UBS Group boosted their price objective on Willis Towers Watson from $202.00 to $220.00 and gave the stock a buy rating in a research report on Wednesday, July 10th. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Everest Re Group has a consensus rating of Hold and an average target price of $251.63.
Shares of RE opened at $253.41 on Friday. Everest Re Group has a 52-week low of $201.09 and a 52-week high of $260.51. The firm has a fifty day simple moving average of $252.02. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.37 and a current ratio of 0.37. The company has a market cap of $10.26 billion, a price-to-earnings ratio of 54.50, a price-to-earnings-growth ratio of 1.03 and a beta of 0.26.
Everest Re Group (NYSE:RE) last issued its quarterly earnings data on Monday, May 6th. The insurance provider reported $6.91 earnings per share for the quarter, topping analysts’ consensus estimates of $5.91 by $1.00. The business had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.82 billion. Everest Re Group had a return on equity of 3.08% and a net margin of 3.19%. Everest Re Group’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.34 EPS. On average, equities analysts expect that Everest Re Group will post 24.49 earnings per share for the current fiscal year.
In other Everest Re Group news, SVP Jonathan Zaffino sold 1,048 shares of Everest Re Group stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $248.01, for a total transaction of $259,914.48. Following the transaction, the senior vice president now directly owns 9,617 shares of the company’s stock, valued at approximately $2,385,112.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John A. Weber sold 500 shares of Everest Re Group stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $246.46, for a total value of $123,230.00. Following the transaction, the director now directly owns 6,499 shares in the company, valued at $1,601,743.54. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Somerset Trust Co lifted its holdings in Everest Re Group by 190.5% during the 1st quarter. Somerset Trust Co now owns 122 shares of the insurance provider’s stock worth $26,000 after buying an additional 80 shares during the period. Quadrant Capital Group LLC lifted its stake in shares of Everest Re Group by 215.2% in the 1st quarter. Quadrant Capital Group LLC now owns 312 shares of the insurance provider’s stock valued at $64,000 after purchasing an additional 213 shares during the period. Advisor Group Inc. lifted its stake in shares of Everest Re Group by 16.4% in the 4th quarter. Advisor Group Inc. now owns 512 shares of the insurance provider’s stock valued at $111,000 after purchasing an additional 72 shares during the period. ETF Managers Group LLC lifted its stake in shares of Everest Re Group by 9.3% in the 1st quarter. ETF Managers Group LLC now owns 566 shares of the insurance provider’s stock valued at $122,000 after purchasing an additional 48 shares during the period. Finally, Tredje AP fonden acquired a new position in shares of Everest Re Group in the 1st quarter valued at about $153,000. 91.65% of the stock is currently owned by hedge funds and other institutional investors.
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.
Further Reading: What Does a Sell-Side Analyst Rating Mean?
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