Langen Mcalenn Equities Analysts Reduce Earnings Estimates for Everest Re Group, Ltd. (RE)
Everest Re Group, Ltd. (NYSE:RE) – Investment analysts at Langen Mcalenn decreased their FY2018 EPS estimates for Everest Re Group in a research note issued to investors on Wednesday. Langen Mcalenn analyst L. Greenberg now forecasts that the insurance provider will earn $16.55 per share for the year, down from their prior estimate of $17.85.
Several other equities analysts have also recently commented on the stock. Keefe, Bruyette & Woods restated a “sell” rating and issued a $245.00 target price on shares of Everest Re Group in a research report on Thursday, September 21st. UBS AG dropped their target price on shares of Everest Re Group from $256.00 to $240.00 and set a “neutral” rating for the company in a research report on Tuesday, September 19th. Buckingham Research assumed coverage on shares of Everest Re Group in a research report on Monday, September 11th. They issued a “neutral” rating and a $255.00 target price for the company. ValuEngine cut shares of Everest Re Group from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 7th. Finally, Barclays PLC boosted their target price on shares of Everest Re Group from $299.00 to $305.00 and gave the company an “overweight” rating in a research report on Friday, August 11th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. Everest Re Group currently has an average rating of “Hold” and a consensus price target of $249.00.
Shares of Everest Re Group (NYSE RE) opened at 228.39 on Friday. The firm’s 50-day moving average is $251.27 and its 200 day moving average is $248.66. The company has a market capitalization of $9.38 billion, a PE ratio of 7.84 and a beta of 0.64. Everest Re Group has a 52 week low of $183.04 and a 52 week high of $277.17.
Everest Re Group (NYSE:RE) last issued its quarterly earnings data on Monday, July 24th. The insurance provider reported $5.51 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $5.24 by $0.27. The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations 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 period in the prior year, the firm earned $3.17 earnings per share.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 20th. Investors of record on Wednesday, September 6th were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend was Friday, September 1st. Everest Re Group’s dividend payout ratio is 17.15%.
A number of hedge funds have recently added to or reduced their stakes in RE. Raymond James Financial Services Advisors Inc. acquired a new position in Everest Re Group during the 1st quarter worth approximately $200,000. Envestnet Asset Management Inc. increased its position in Everest Re Group by 573.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 6,376 shares of the insurance provider’s stock worth $1,489,000 after purchasing an additional 5,429 shares in the last quarter. Nordea Investment Management AB increased its position in Everest Re Group by 69.9% during the 1st quarter. Nordea Investment Management AB now owns 1,196 shares of the insurance provider’s stock worth $280,000 after purchasing an additional 492 shares in the last quarter. Stifel Financial Corp acquired a new position in Everest Re Group during the 1st quarter worth approximately $1,906,000. Finally, Neuberger Berman Group LLC increased its position in Everest Re Group by 10.2% during the 1st quarter. Neuberger Berman Group LLC now owns 3,006 shares of the insurance provider’s stock worth $703,000 after purchasing an additional 279 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.
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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