Keefe, Bruyette & Woods Reaffirms “Hold” Rating for Everest Re Group (RE)
Everest Re Group (NYSE:RE)‘s stock had its “hold” rating restated by research analysts at Keefe, Bruyette & Woods in a report issued on Wednesday. They currently have a $234.00 price target on the insurance provider’s stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 10.87% from the stock’s previous close.
Other equities analysts have also issued reports about the company. Barclays increased their price objective on Everest Re Group from $299.00 to $305.00 and gave the company an “overweight” rating in a research report on Friday, August 11th. UBS reduced their price objective on Everest Re Group from $240.00 to $230.00 and set a “neutral” rating on the stock in a research report on Monday, October 2nd. Zacks Investment Research lowered Everest Re Group from a “hold” rating to a “sell” rating in a research report on Friday, October 13th. ValuEngine upgraded Everest Re Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Finally, Wells Fargo & Company set a $240.00 price objective on Everest Re Group and gave the company a “hold” rating in a research report on Monday, October 30th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $250.56.
Shares of Everest Re Group (NYSE:RE) traded down $1.09 during trading on Wednesday, hitting $211.06. The stock had a trading volume of 626,476 shares, compared to its average volume of 409,511. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.33 and a quick ratio of 0.33. The company has a market cap of $8,770.84, a price-to-earnings ratio of 50.85, a PEG ratio of 12.47 and a beta of 0.61. Everest Re Group has a 12-month low of $209.22 and a 12-month high of $277.17.
Everest Re Group (NYSE:RE) last announced its quarterly earnings data on Monday, October 30th. The insurance provider reported ($16.43) EPS for the quarter, missing the consensus estimate of $3.68 by ($20.11). The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.62 billion. Everest Re Group had a net margin of 4.27% and a return on equity of 2.22%. Everest Re Group’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter last year, the company posted $6.53 earnings per share. analysts expect that Everest Re Group will post 1.71 EPS for the current year.
In related news, Director William F. Galtney, Jr. purchased 6,000 shares of Everest Re Group stock in a transaction that occurred on Monday, November 20th. The shares were acquired at an average cost of $225.29 per share, for a total transaction of $1,351,740.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.30% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Everest Re Group by 23.1% during the 2nd quarter. Vanguard Group Inc. now owns 3,756,913 shares of the insurance provider’s stock worth $956,473,000 after acquiring an additional 704,287 shares during the last quarter. State Street Corp lifted its holdings in Everest Re Group by 26.4% in the 2nd quarter. State Street Corp now owns 2,157,326 shares of the insurance provider’s stock worth $549,219,000 after buying an additional 450,606 shares during the period. APG Asset Management N.V. lifted its holdings in Everest Re Group by 43.6% in the 3rd quarter. APG Asset Management N.V. now owns 1,032,662 shares of the insurance provider’s stock worth $235,850,000 after buying an additional 313,700 shares during the period. JPMorgan Chase & Co. lifted its holdings in Everest Re Group by 22.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 714,377 shares of the insurance provider’s stock worth $159,219,000 after buying an additional 128,867 shares during the period. Finally, Northern Trust Corp lifted its holdings in Everest Re Group by 5.4% in the 2nd quarter. Northern Trust Corp now owns 676,890 shares of the insurance provider’s stock worth $172,330,000 after buying an additional 34,827 shares during the period. Institutional investors and hedge funds own 93.68% of the company’s stock.
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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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