Everest Re Group, Ltd. (NYSE:RE) had its price objective reduced by Barclays PLC from $305.00 to $280.00 in a report issued on Monday. They currently have an overweight rating on the insurance provider’s stock.
RE has been the topic of a number of other research reports. UBS AG reduced their target price on Everest Re Group from $256.00 to $240.00 and set a neutral rating on the stock in a research note on Tuesday, September 19th. ValuEngine lowered Everest Re Group from a strong-buy rating to a buy rating in a research note on Thursday, September 7th. Keefe, Bruyette & Woods lowered Everest Re Group from a market perform rating to an underperform rating and reduced their target price for the stock from $251.00 to $245.00 in a research note on Monday, July 17th. Zacks Investment Research upgraded Everest Re Group from a hold rating to a buy rating and set a $293.00 target price on the stock in a research note on Friday, July 7th. Finally, Buckingham Research initiated coverage on Everest Re Group in a research note on Monday, September 11th. They issued a neutral rating and a $255.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. The stock has an average rating of Hold and an average target price of $243.44.
Everest Re Group (RE) traded up 0.58% during mid-day trading on Monday, reaching $238.63. 23,195 shares of the company traded hands. Everest Re Group has a 12-month low of $191.11 and a 12-month high of $277.17. The company’s 50 day moving average price is $229.32 and its 200 day moving average price is $247.53. The firm has a market capitalization of $9.80 billion, a P/E ratio of 8.19 and a beta of 0.62.
Everest Re Group (NYSE:RE) last released its earnings results on Monday, July 24th. The insurance provider reported $5.51 earnings per share for the quarter, topping analysts’ consensus estimates of $5.24 by $0.27. Everest Re Group had a return on equity of 13.60% and a net margin of 19.65%. The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter last year, the firm posted $3.17 earnings per share. Equities research analysts predict that Everest Re Group will post $1.54 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 20th. Stockholders of record on Wednesday, September 6th were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend was Friday, September 1st. Everest Re Group’s payout ratio is 17.15%.
Institutional investors and hedge funds have recently bought and sold shares of the company. Acrospire Investment Management LLC grew its position in shares of Everest Re Group by 66.7% during the 2nd quarter. Acrospire Investment Management LLC now owns 500 shares of the insurance provider’s stock worth $127,000 after buying an additional 200 shares in the last quarter. Pacer Advisors Inc. bought a new position in shares of Everest Re Group during the 2nd quarter worth $160,000. IFP Advisors Inc grew its position in shares of Everest Re Group by 29.1% during the 2nd quarter. IFP Advisors Inc now owns 657 shares of the insurance provider’s stock worth $167,000 after buying an additional 148 shares in the last quarter. ETRADE Capital Management LLC bought a new position in shares of Everest Re Group during the 2nd quarter worth $201,000. Finally, Sawtooth Solutions LLC bought a new position in shares of Everest Re Group during the 2nd quarter worth $205,000. 92.25% of the stock is currently owned by institutional investors and hedge funds.
Everest Re Group Company Profile
Everest Re Group, Ltd., through its subsidiaries, is engaged in the underwriting of reinsurance and insurance in the United States, Bermuda and international markets. The Company operates in segments: U.S. Reinsurance, International, Bermuda and Insurance segment. The Company underwrites reinsurance both through brokers and directly with ceding companies.
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