Analysts Set Everest Re Group, Ltd. (RE) Target Price at $246.71
Everest Re Group, Ltd. (NYSE:RE) has been given a consensus recommendation of “Hold” by the eleven brokerages that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $246.71.
RE has been the topic of a number of research reports. Zacks Investment Research cut shares of Everest Re Group from a “hold” rating to a “sell” rating in a report on Friday, October 13th. Buckingham Research initiated coverage on shares of Everest Re Group in a report on Monday, September 11th. They issued a “neutral” rating and a $255.00 price target on the stock. ValuEngine cut shares of Everest Re Group from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 7th. UBS lowered their price target on shares of Everest Re Group from $256.00 to $240.00 and set a “neutral” rating on the stock in a report on Tuesday, September 19th. Finally, Barclays lowered their price target on shares of Everest Re Group from $305.00 to $280.00 and set an “overweight” rating on the stock in a report on Monday, October 16th.
In related news, Director William F. Galtney, Jr. purchased 6,000 shares of the stock in a transaction that occurred on Monday, November 20th. The shares were bought at an average price of $225.29 per share, with a total value of $1,351,740.00. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.30% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Acrospire Investment Management LLC raised its holdings in Everest Re Group by 66.7% during the 2nd quarter. Acrospire Investment Management LLC now owns 500 shares of the insurance provider’s stock valued at $127,000 after acquiring an additional 200 shares during the period. Valeo Financial Advisors LLC bought a new stake in Everest Re Group during the 3rd quarter valued at $137,000. Pacer Advisors Inc. bought a new stake in Everest Re Group during the 2nd quarter valued at $160,000. IFP Advisors Inc raised its holdings in Everest Re Group by 29.1% during the 2nd quarter. IFP Advisors Inc now owns 657 shares of the insurance provider’s stock valued at $167,000 after acquiring an additional 148 shares during the period. Finally, ETRADE Capital Management LLC bought a new stake in Everest Re Group during the 2nd quarter valued at $201,000. 93.69% of the stock is currently owned by institutional investors and hedge funds.
Everest Re Group (NYSE RE) traded down $1.54 during trading on Thursday, hitting $218.06. 471,912 shares of the company’s stock traded hands, compared to its average volume of 521,087. Everest Re Group has a 1 year low of $207.93 and a 1 year high of $277.17. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.33 and a current ratio of 0.33. The company has a market cap of $8,955.72, a PE ratio of 51.92, a P/E/G ratio of 12.73 and a beta of 0.61.
Everest Re Group (NYSE:RE) last posted its earnings results on Monday, October 30th. The insurance provider reported ($16.43) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.68 by ($20.11). Everest Re Group had a return on equity of 2.22% and a net margin of 4.27%. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same period in the prior year, the business earned $6.53 EPS. Everest Re Group’s quarterly revenue was up 16.6% compared to the same quarter last year. sell-side analysts expect that Everest Re Group will post 1.71 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 13th. Investors of record on Wednesday, November 29th will be issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date is Tuesday, November 28th. This is a boost from Everest Re Group’s previous quarterly dividend of $1.25. Everest Re Group’s payout ratio is 81.63%.
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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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