Everest Re Group Ltd (NYSE:RE) has earned a consensus recommendation of “Hold” from the eleven analysts that are covering the firm, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $252.86.
A number of equities research analysts have recently issued reports on RE shares. Wells Fargo & Co set a $240.00 target price on Everest Re Group and gave the stock a “hold” rating in a research report on Monday, October 30th. Keefe, Bruyette & Woods reaffirmed a “sell” rating and set a $216.00 target price on shares of Everest Re Group in a research report on Friday, November 3rd. UBS Group upped their price target on Everest Re Group from $230.00 to $245.00 and gave the company a “neutral” rating in a research report on Monday, November 6th. Zacks Investment Research raised Everest Re Group from a “sell” rating to a “hold” rating in a research report on Friday, November 10th. Finally, TheStreet lowered Everest Re Group from a “b” rating to a “c+” rating in a research report on Monday, December 18th.
In other Everest Re Group news, Director William F. Galtney, Jr. purchased 6,000 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The shares were purchased at an average cost of $225.29 per share, with a total value of $1,351,740.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John A. Graf bought 2,285 shares of the stock in a transaction on Monday, January 8th. The stock was purchased at an average price of $219.07 per share, for a total transaction of $500,574.95. Following the purchase, the director now directly owns 5,550 shares of the company’s stock, valued at $1,215,838.50. The disclosure for this purchase can be found here. Insiders have purchased 8,323 shares of company stock worth $1,860,654 over the last three months. 1.30% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of RE. FMR LLC purchased a new position in Everest Re Group in the second quarter valued at about $12,452,000. Gotham Asset Management LLC purchased a new position in Everest Re Group in the second quarter valued at about $764,000. The Manufacturers Life Insurance Company purchased a new position in Everest Re Group in the second quarter valued at about $12,284,000. Raymond James Financial Services Advisors Inc. grew its stake in Everest Re Group by 134.0% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 2,003 shares of the insurance provider’s stock valued at $510,000 after purchasing an additional 1,147 shares in the last quarter. Finally, Bank of Nova Scotia purchased a new position in Everest Re Group in the second quarter valued at about $270,000. Hedge funds and other institutional investors own 94.06% of the company’s stock.
Shares of Everest Re Group (RE) opened at $242.39 on Tuesday. The stock has a market capitalization of $9,906.40, a price-to-earnings ratio of 27.41, a PEG ratio of 1.13 and a beta of 0.59. The company has a current ratio of 0.31, a quick ratio of 0.33 and a debt-to-equity ratio of 0.08. Everest Re Group has a 52-week low of $208.81 and a 52-week high of $277.17.
Everest Re Group (NYSE:RE) last announced its earnings results on Monday, February 5th. The insurance provider reported $13.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.04 by $7.44. The company had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.52 billion. Everest Re Group had a return on equity of 4.51% and a net margin of 7.10%. Everest Re Group’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $9.08 earnings per share. research analysts anticipate that Everest Re Group will post 21.45 EPS for the current fiscal year.
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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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