UBS AG Lowers Everest Re Group, Ltd. (RE) Price Target to $230.00
Everest Re Group, Ltd. (NYSE:RE) had its price objective lowered by analysts at UBS AG from $240.00 to $230.00 in a research report issued on Monday. The firm currently has a “neutral” rating on the insurance provider’s stock. UBS AG’s price target would suggest a potential upside of 0.30% from the stock’s current price.
Other research analysts have also recently issued reports about the stock. Wells Fargo & Company reissued a “hold” rating on shares of Everest Re Group in a research report on Monday, July 24th. Barclays PLC upped 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 note on Friday, August 11th. Zacks Investment Research lowered shares of Everest Re Group from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. BidaskClub raised shares of Everest Re Group from a “hold” rating to a “buy” rating in a report on Wednesday, July 5th. Finally, Keefe, Bruyette & Woods downgraded shares of Everest Re Group from a “market perform” rating to an “underperform” rating and dropped their price target for the stock from $251.00 to $245.00 in a research note on Monday, July 17th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. Everest Re Group currently has a consensus rating of “Hold” and an average target price of $247.89.
Everest Re Group (RE) opened at 229.32 on Monday. Everest Re Group has a 12-month low of $183.04 and a 12-month high of $277.17. The firm has a market cap of $9.42 billion, a PE ratio of 7.87 and a beta of 0.62. The firm’s 50-day moving average is $239.52 and its 200 day moving average is $248.02.
Everest Re Group (NYSE:RE) last released its quarterly earnings results on Monday, July 24th. The insurance provider reported $5.51 earnings per share for the quarter, topping the Zacks’ consensus estimate 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 firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the prior year, the business earned $3.17 EPS. Equities research analysts predict that Everest Re Group will post $22.05 EPS for the current year.
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Institutional investors and hedge funds have recently bought and sold shares of the stock. Acrospire Investment Management LLC increased its holdings in Everest Re Group by 66.7% in the second quarter. Acrospire Investment Management LLC now owns 500 shares of the insurance provider’s stock valued at $127,000 after buying an additional 200 shares during the last quarter. Pacer Advisors Inc. acquired a new stake in Everest Re Group during the second quarter valued at approximately $160,000. IFP Advisors Inc raised its stake in Everest Re Group by 29.1% during the second quarter. IFP Advisors Inc now owns 657 shares of the insurance provider’s stock valued at $167,000 after buying an additional 148 shares in the last quarter. ETRADE Capital Management LLC acquired a new stake in Everest Re Group during the second quarter valued at approximately $201,000. Finally, Sawtooth Solutions LLC acquired a new stake in Everest Re Group during the second quarter valued at approximately $205,000. 92.44% of the stock is currently owned by hedge funds and other institutional investors.
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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