Deutsche Bank cut shares of Everest Re Group (NYSE:RE) from a buy rating to a hold rating in a research report sent to investors on Monday morning, TheFlyOnTheWall.com reports. The firm currently has $167.00 price target on the stock, up from their previous price target of $163.00.
Shares of Everest Re Group (NYSE:RE) traded down 1.08% on Monday, hitting $153.30. The stock had a trading volume of 88,046 shares. Everest Re Group has a 1-year low of $105.72 and a 1-year high of $159.86. The stock’s 50-day moving average is $154.4 and its 200-day moving average is $139.4. The company has a market cap of $7.343 billion and a price-to-earnings ratio of 8.19.
Everest Re Group (NYSE:RE) last released its earnings data on Thursday, October 24th. The company reported $4.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.76 by $0.56. The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the previous year, the company posted $4.05 earnings per share. The company’s revenue for the quarter was up 15.0% on a year-over-year basis. Analysts expect that Everest Re Group will post $19.66 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from Everest Re Group’s previous quarterly dividend of $0.48.
A number of other analysts have also recently weighed in on RE. Analysts at Keefe, Bruyette & Woods upgraded shares of Everest Re Group to a market perform rating in a research note to investors on Friday, November 22nd. Separately, analysts at UBS AG downgraded shares of Everest Re Group from a buy rating to a neutral rating in a research note to investors on Friday, November 22nd. They now have a $161.00 price target on the stock, up previously from $44.00. They noted that the move was a valuation call. Finally, analysts at Zacks reiterated an outperform rating on shares of Everest Re Group in a research note to investors on Monday, October 28th. They now have a $181.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. The stock has an average rating of Hold and an average price target of $160.40.
Everest Re Group, Ltd. through its subsidiaries, is principally engaged in the underwriting of reinsurance and insurance in the United States, Bermuda and international markets.
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