Everest Re Group Ltd. Forecasted to Earn Q4 2016 Earnings of $5.65 Per Share (RE)
Everest Re Group Ltd. (NYSE:RE) – Equities researchers at Langen Mcalenn upped their Q4 2016 earnings per share (EPS) estimates for shares of Everest Re Group in a report issued on Thursday. Langen Mcalenn analyst L. Greenberg now anticipates that the brokerage will post earnings of $5.65 per share for the quarter, up from their previous forecast of $5.60. Langen Mcalenn also issued estimates for Everest Re Group’s Q4 2017 earnings at $5.81 EPS and FY2017 earnings at $16.95 EPS.
Several other research firms have also recently issued reports on RE. Zacks Investment Research cut shares of Everest Re Group from a “hold” rating to a “sell” rating in a research report on Tuesday, July 12th. Keefe, Bruyette & Woods boosted their price target on shares of Everest Re Group from $199.00 to $204.00 and gave the company a “market perform” rating in a report on Wednesday, July 27th. Finally, Barclays PLC restated an “overweight” rating and issued a $215.00 price target on shares of Everest Re Group in a report on Wednesday, July 27th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Everest Re Group currently has an average rating of “Hold” and an average price target of $201.83.
Shares of Everest Re Group (NYSE:RE) opened at 188.21 on Monday. The stock has a market cap of $7.88 billion, a PE ratio of 10.51 and a beta of 0.60. Everest Re Group has a one year low of $167.07 and a one year high of $199.98. The company has a 50-day moving average of $190.27 and a 200 day moving average of $186.68.
Everest Re Group (NYSE:RE) last posted its quarterly earnings results on Monday, July 25th. The company reported $3.17 EPS for the quarter, beating the Zacks’ consensus estimate of $2.85 by $0.32. Everest Re Group had a net margin of 13.79% and a return on equity of 11.78%. The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter in the prior year, the company posted $5.03 earnings per share.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 21st. Investors of record on Wednesday, September 7th will be paid a dividend of $1.15 per share. The ex-dividend date of this dividend is Friday, September 2nd. This represents a $4.60 annualized dividend and a dividend yield of 2.44%. Everest Re Group’s dividend payout ratio (DPR) is presently 25.66%.
In related news, VP John P. Doucette sold 1,840 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $189.84, for a total transaction of $349,305.60. Following the completion of the transaction, the vice president now owns 23,265 shares in the company, valued at approximately $4,416,627.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John R. Dunne sold 200 shares of the company’s stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $190.03, for a total transaction of $38,006.00. Following the transaction, the director now owns 10,579 shares in the company, valued at approximately $2,010,327.37. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vulcan Value Partners LLC raised its position in shares of Everest Re Group by 3.3% in the second quarter. Vulcan Value Partners LLC now owns 1,959,721 shares of the company’s stock worth $357,983,000 after buying an additional 61,767 shares during the last quarter. BlackRock Fund Advisors raised its position in shares of Everest Re Group by 4.9% in the second quarter. BlackRock Fund Advisors now owns 1,918,739 shares of the company’s stock worth $350,496,000 after buying an additional 89,669 shares during the last quarter. State Street Corp raised its position in shares of Everest Re Group by 1.2% in the first quarter. State Street Corp now owns 1,695,788 shares of the company’s stock worth $334,795,000 after buying an additional 20,711 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Everest Re Group by 56.5% in the second quarter. JPMorgan Chase & Co. now owns 967,425 shares of the company’s stock worth $176,719,000 after buying an additional 349,160 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Everest Re Group during the fourth quarter worth about $112,285,000. Institutional investors and hedge funds own 92.11% of the company’s stock.
About Everest Re Group
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’s segments include U.S. Reinsurance segment, International segment, Bermuda segment, Insurance segment and Mt. Logan Re segment.
Receive News & Ratings for Everest Re Group Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Everest Re Group Ltd. and related companies with Analyst Ratings Network's FREE daily email newsletter.