Several analysts have recently updated their ratings and price targets for Everest Re Group (NYSE: RE):

  • 8/2/2017 – Everest Re Group was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Shares of Everest Re outperformed the industry year to date. Everest Re Group noted strong momentum across its underwriting operations, with opportunities in both reinsurance and insurance. The insurer has substantially benefited from its global presence, product diversification, capital adequacy, financial flexibility and traditional risk management capabilities. It is divesting underperforming business and strengthened reserves. Banking on favorable operational performance the company enjoys disciplined capital management strategy and strong capital balance position. However, a competitive reinsurance market and exposure to catastrophe events infusing underwriting volatility remain headwinds. With respect to quarterly results, Everest Re’s second-quarter bottom line beat expectation. Both segments exhibited increase in revenues. While expenses increased, combined ratio exhibited improvement, reflecting better underwriting results.”
  • 8/1/2017 – Everest Re Group was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $294.00 price target on the stock. According to Zacks, “Shares of Everest Re outperformed the industry year to date. Everest Re Group noted strong momentum across its underwriting operations, with opportunities in both reinsurance and insurance. The insurer has substantially benefited from its global presence, product diversification, capital adequacy, financial flexibility and traditional risk management capabilities. It is divesting underperforming business and strengthened reserves. Banking on favorable operational performance the company enjoys disciplined capital management strategy and strong capital balance position. However, a competitive reinsurance market and exposure to catastrophe events infusing underwriting volatility remain headwinds. With respect to quarterly results, Everest Re’s second-quarter bottom line beat expectation. Both segments exhibited increase in revenues. While expenses increased, combined ratio exhibited improvement, reflecting better underwriting results.”
  • 8/1/2017 – Everest Re Group had its “neutral” rating reaffirmed by analysts at UBS Group AG. They now have a $256.00 price target on the stock, up previously from $251.00.
  • 7/31/2017 – Everest Re Group was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 7/27/2017 – Everest Re Group was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Everest Re’s second-quarter bottom line beat expectation. Both segments exhibited increase in revenues. While expenses increased, combined ratio exhibited improvement, reflecting better underwriting results.  Shares of Everest Re outperformed the industry year to date. Everest Re Group noted strong momentum across its underwriting operations, with opportunities in both reinsurance and insurance. The insurer has substantially benefited from its global presence, product diversification, capital adequacy, financial flexibility and traditional risk management capabilities. It is divesting underperforming business and strengthened reserves. Banking on favorable operational performance the company enjoys disciplined capital management strategy and strong capital balance position. However, a competitive reinsurance market and exposure to catastrophe events infusing underwriting volatility remain headwinds.”
  • 7/24/2017 – Everest Re Group had its “hold” rating reaffirmed by analysts at Wells Fargo & Company. They wrote, “We do not expect much movement in the shares to the beat given the strong performance of the stock this year.  Significant premium growth in insurance and reinsurance. Gross premiums rose 17.5%, higher than our 4.2% estimate, but lower than 18.3% in Q1 (14% ex a $60 million true-up). Reinsurance was +13.7%, higher than our 9.1% estimate, but lower than 19.4% in Q1 (or 13% ex the true-up) driven by crop shifting to the reinsurance side, gaining share on property pro-rata covers, and financial lines. In reinsurance, Everest saw strong growth in the U.S. and Bermuda, while International declined. The level of reinsurance growth continues to stand out given the price declines. Insurance was +40.6% ex crop, well in excess of our 22.0% growth estimate, and +21% in Q1, as RE continues to build out its newer initiatives.  Combined ratio saw higher cats than we had modeled and a weaker underlying margin. The combined ratio was 90.5%, higher than our 87.5% estimate due to a higher cat load and weaker underlying margin. Cat losses came in at $53.5 million, higher than our $30.0 million estimate. RE saw virtually no net prior year reserve development (as a modest level of releases in reinsurance was offset by strengthening in insurance). We had modeled $2.0 million of favorable reserve development.””
  • 7/17/2017 – Everest Re Group was downgraded by analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “underperform” rating. They now have a $245.00 price target on the stock, down previously from $251.00.
  • 7/17/2017 – Everest Re Group was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $295.00 price target on the stock. According to Zacks, “Shares of Everest Re outperformed the Zacks categorized Property and Casualty industry year to date. Everest Re is well positioned in the insurance and reinsurance industries. The insurer has substantially benefited from its global presence, product diversification, capital adequacy, financial flexibility and traditional risk management capabilities. Banking on favorable operational performance the company enjoys disciplined capital management strategy and strong capital balance position. However, a competitive reinsurance market and exposure to catastrophe events infusing underwriting volatility remain headwinds. The company is set to release second quarter results on Jul 24. Our proven model state that the compnay will likely beat earnings this quarter because it has the right combination of a Zacks Rank #3 and Earnings ESP of 1.52%.”
  • 7/10/2017 – Everest Re Group was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Shares of Everest Re outperformed the Zacks categorized Property and Casualty industry year to date. Everest Re is well positioned in the insurance and reinsurance industries. The insurer has substantially benefited from its global presence, product diversification, capital adequacy, financial flexibility and traditional risk management capabilities. Banking on favorable operational performance the company enjoys disciplined capital management strategy and strong capital balance position. However, a competitive reinsurance market and exposure to catastrophe events infusing underwriting volatility remain headwinds. The company is set to release second quarter results on Jul 24. Our proven model state that the compnay will beat earnings this quarter because it has the right combination of a Zacks Rank #3 and Earnings ESP of 6.34%.”
  • 7/7/2017 – Everest Re Group was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $293.00 price target on the stock. According to Zacks, “Shares of Everest Re outperformed the Zacks categorized Property and Casualty industry year to date. Everest Re is well positioned in the insurance and reinsurance industries. The insurer has substantially benefited from its global presence, product diversification, capital adequacy, financial flexibility and traditional risk management capabilities. Banking on favorable operational performance the company enjoys disciplined capital management strategy and strong capital balance position. However, a competitive reinsurance market and exposure to catastrophe events infusing underwriting volatility remain headwinds. The company is set to release second quarter results on Jul 24. A Zacks Rank #2 increases the predictive power of a beat, but combined with Earnings ESP of 0.00% makes prediction difficult.”
  • 7/6/2017 – Everest Re Group had its “equal weight” rating reaffirmed by analysts at Morgan Stanley. They now have a $259.00 price target on the stock, up previously from $250.00.
  • 7/5/2017 – Everest Re Group was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.

Shares of Everest Re Group, Ltd. (NYSE:RE) opened at 269.30 on Friday. The company has a 50 day moving average price of $262.95 and a 200 day moving average price of $244.90. Everest Re Group, Ltd. has a 12-month low of $183.04 and a 12-month high of $277.17. The company has a market capitalization of $11.06 billion, a P/E ratio of 9.22 and a beta of 0.63.

Everest Re Group (NYSE:RE) last announced its earnings results on Monday, July 24th. The insurance provider reported $5.51 EPS for the quarter, beating analysts’ consensus estimates of $5.24 by $0.27. Everest Re Group had a return on equity of 13.60% and a net margin of 19.65%. The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period last year, the business posted $3.17 EPS. Equities analysts anticipate that Everest Re Group, Ltd. will post $21.29 EPS for the current year.

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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