Shares of Everest Re Group Ltd (NYSE:RE) have been given a consensus recommendation of “Hold” by the ten ratings firms that are currently covering the firm, Marketbeat.com reports. Eight analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $256.00.
Several research analysts recently commented on the company. UBS Group boosted their price target on Everest Re Group from $252.00 to $257.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 10th. Zacks Investment Research cut Everest Re Group from a “buy” rating to a “hold” rating in a research note on Wednesday, May 15th. ValuEngine cut Everest Re Group from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Barclays set a $300.00 price target on Everest Re Group and gave the stock a “buy” rating in a research note on Monday, August 12th. Finally, Morgan Stanley cut their price target on Everest Re Group from $265.00 to $260.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd.
Shares of RE traded down $3.97 during midday trading on Friday, reaching $244.88. 187,995 shares of the company were exchanged, compared to its average volume of 260,421. The stock has a 50-day moving average price of $251.84 and a 200-day moving average price of $237.54. The company has a market cap of $10.14 billion, a price-to-earnings ratio of 52.66, a P/E/G ratio of 1.00 and a beta of 0.25. Everest Re Group has a 1-year low of $201.09 and a 1-year high of $260.51. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.07.
Everest Re Group (NYSE:RE) last issued its quarterly earnings data on Monday, July 29th. The insurance provider reported $7.85 EPS for the quarter, topping the Zacks’ consensus estimate of $6.66 by $1.19. The company had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $1.96 billion. Everest Re Group had a return on equity of 6.37% and a net margin of 6.67%. The firm’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.98 earnings per share. Equities research analysts anticipate that Everest Re Group will post 24.94 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th will be paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend is Tuesday, September 3rd. Everest Re Group’s payout ratio is currently 120.43%.
In other Everest Re Group news, CEO John P. Doucette sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $251.97, for a total transaction of $1,259,850.00. Following the sale, the chief executive officer now owns 22,747 shares in the company, valued at $5,731,561.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Meryl D. Hartzband acquired 500 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were purchased at an average price of $242.31 per share, for a total transaction of $121,155.00. Following the purchase, the director now directly owns 9,570 shares of the company’s stock, valued at $2,318,906.70. The disclosure for this purchase can be found here. Corporate insiders own 1.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Everest Re Group by 0.8% during the second quarter. Vanguard Group Inc. now owns 4,402,694 shares of the insurance provider’s stock valued at $1,088,258,000 after buying an additional 36,288 shares in the last quarter. BlackRock Inc. raised its stake in Everest Re Group by 16.3% during the second quarter. BlackRock Inc. now owns 3,965,427 shares of the insurance provider’s stock valued at $980,173,000 after buying an additional 555,838 shares in the last quarter. Boston Partners grew its holdings in shares of Everest Re Group by 4.9% during the first quarter. Boston Partners now owns 2,577,488 shares of the insurance provider’s stock valued at $556,635,000 after purchasing an additional 120,615 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Everest Re Group by 2.0% during the second quarter. AQR Capital Management LLC now owns 1,272,631 shares of the insurance provider’s stock valued at $312,571,000 after purchasing an additional 24,532 shares during the last quarter. Finally, Champlain Investment Partners LLC grew its holdings in shares of Everest Re Group by 4.4% during the first quarter. Champlain Investment Partners LLC now owns 889,250 shares of the insurance provider’s stock valued at $192,042,000 after purchasing an additional 37,765 shares during the last quarter. Hedge funds and other institutional investors own 89.99% of the company’s stock.
Everest Re Group Company Profile
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.
Featured Article: Why is momentum important to successful trading?
Receive News & Ratings for Everest Re Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Everest Re Group and related companies with MarketBeat.com's FREE daily email newsletter.