Everest Re Group, Ltd. (NYSE:RE) Receives Average Recommendation of “Buy” from Brokerages

Shares of Everest Re Group, Ltd. (NYSE:REGet Rating) have been given an average recommendation of “Buy” by the eight ratings firms that are presently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $317.50.

RE has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded shares of Everest Re Group from a “buy” rating to a “hold” rating and set a $300.00 price target for the company. in a report on Thursday, March 17th. Morgan Stanley raised their price target on shares of Everest Re Group from $331.00 to $340.00 and gave the stock an “overweight” rating in a report on Tuesday, February 15th. StockNews.com initiated coverage on shares of Everest Re Group in a report on Thursday, March 31st. They set a “buy” rating for the company. Finally, Wells Fargo & Company raised their price target on shares of Everest Re Group from $310.00 to $330.00 in a report on Friday, February 11th.

Shares of RE traded down $1.67 during mid-day trading on Tuesday, hitting $288.40. 2,196 shares of the company were exchanged, compared to its average volume of 271,818. Everest Re Group has a 1-year low of $234.87 and a 1-year high of $308.20. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.33 and a current ratio of 0.33. The company has a 50 day moving average of $291.79 and a 200-day moving average of $280.48. The stock has a market cap of $14.18 billion, a price-to-earnings ratio of 8.38, a price-to-earnings-growth ratio of 0.87 and a beta of 0.61.

Everest Re Group (NYSE:REGet Rating) last released its quarterly earnings data on Wednesday, February 9th. The insurance provider reported $9.12 EPS for the quarter, missing the Zacks’ consensus estimate of $9.23 by ($0.11). The business had revenue of $3 billion during the quarter, compared to analyst estimates of $3 billion. Everest Re Group had a net margin of 11.62% and a return on equity of 11.48%. During the same quarter in the previous year, the company posted ($1.12) EPS. Research analysts anticipate that Everest Re Group will post 32.96 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 30th. Investors of record on Wednesday, March 16th were given a dividend of $1.55 per share. The ex-dividend date was Tuesday, March 15th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 2.15%. Everest Re Group’s payout ratio is currently 17.96%.

In other Everest Re Group news, VP Sanjoy Mukherjee sold 400 shares of the firm’s stock in a transaction that occurred on Thursday, March 24th. The shares were sold at an average price of $295.00, for a total value of $118,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William F. Galtney, Jr. sold 3,278 shares of the firm’s stock in a transaction that occurred on Friday, February 18th. The shares were sold at an average price of $305.67, for a total transaction of $1,001,986.26. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its holdings in shares of Everest Re Group by 4.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 636,959 shares of the insurance provider’s stock valued at $159,741,000 after purchasing an additional 29,396 shares in the last quarter. Wellington Management Group LLP purchased a new stake in Everest Re Group during the third quarter worth about $1,268,000. Westpac Banking Corp boosted its holdings in Everest Re Group by 20.2% during the third quarter. Westpac Banking Corp now owns 5,756 shares of the insurance provider’s stock worth $1,443,000 after buying an additional 967 shares in the last quarter. Gilman Hill Asset Management LLC lifted its holdings in shares of Everest Re Group by 3.6% in the fourth quarter. Gilman Hill Asset Management LLC now owns 3,883 shares of the insurance provider’s stock valued at $1,064,000 after purchasing an additional 135 shares in the last quarter. Finally, Horizon Investments LLC purchased a new stake in shares of Everest Re Group in the third quarter valued at about $213,000. Institutional investors and hedge funds own 92.73% of the company’s stock.

Everest Re Group Company Profile (Get Rating)

Everest Re Group, Ltd., through its subsidiaries, provides reinsurance and insurance products in the United States, Bermuda, and internationally. The company operates through Reinsurance Operations and Insurance Operations segments. The Reinsurance Operations segment writes property and casualty reinsurance; and specialty lines of business through reinsurance brokers, as well as directly with ceding companies in the United States, Bermuda, Ireland, Canada, Singapore, Switzerland, and the United Kingdom.

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