Everest Re Group, Ltd. (RE) Receives $242.13 Consensus PT from Brokerages
Everest Re Group, Ltd. (NYSE:RE) has earned an average recommendation of “Hold” from the twelve ratings firms that are presently covering the stock, MarketBeat reports. Three 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 average twelve-month price target among analysts that have issued a report on the stock in the last year is $242.13.
A number of analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Everest Re Group from a “hold” rating to a “sell” rating in a research note on Friday. ValuEngine lowered shares of Everest Re Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 5th. UBS AG dropped their price objective on shares of Everest Re Group from $240.00 to $230.00 and set a “neutral” rating on the stock in a research note on Monday, October 2nd. Keefe, Bruyette & Woods reiterated a “sell” rating and set a $245.00 price objective on shares of Everest Re Group in a research note on Thursday, September 21st. Finally, Buckingham Research assumed coverage on shares of Everest Re Group in a research note on Monday, September 11th. They set a “neutral” rating and a $255.00 price objective on the stock.
Several large investors have recently modified their holdings of RE. Acrospire Investment Management LLC increased its stake in shares of Everest Re Group by 66.7% in the second quarter. Acrospire Investment Management LLC now owns 500 shares of the insurance provider’s stock worth $127,000 after buying an additional 200 shares during the last quarter. Pacer Advisors Inc. bought a new stake in shares of Everest Re Group in the second quarter worth $160,000. IFP Advisors Inc increased its stake in shares of Everest Re Group by 29.1% in the second quarter. IFP Advisors Inc now owns 657 shares of the insurance provider’s stock worth $167,000 after buying an additional 148 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Everest Re Group in the first quarter worth $200,000. Finally, ETRADE Capital Management LLC bought a new stake in shares of Everest Re Group in the second quarter worth $201,000. Institutional investors and hedge funds own 92.44% of the company’s stock.
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Everest Re Group (NYSE RE) opened at 240.51 on Wednesday. Everest Re Group has a 12-month low of $191.11 and a 12-month high of $277.17. The firm has a market capitalization of $9.88 billion, a price-to-earnings ratio of 8.25 and a beta of 0.62. The firm has a 50-day moving average of $231.34 and a 200 day moving average of $247.46.
Everest Re Group (NYSE:RE) last posted its quarterly earnings data on Monday, July 24th. The insurance provider reported $5.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.24 by $0.27. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.46 billion. Everest Re Group had a net margin of 19.65% and a return on equity of 13.60%. During the same quarter last year, the firm posted $3.17 earnings per share. On average, equities analysts predict that Everest Re Group will post ($2.77) EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 20th. Investors of record on Wednesday, September 6th were paid a $1.25 dividend. The ex-dividend date was Friday, September 1st. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.08%. Everest Re Group’s dividend payout ratio (DPR) is presently 17.15%.
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 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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