Everest Re Group (NYSE:RE) was downgraded by stock analysts at TheStreet from a “b” rating to a “c+” rating in a report released on Monday, December 18th.
A number of other research firms have also issued reports on RE. ValuEngine upgraded Everest Re Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Barclays decreased their price objective on Everest Re Group from $305.00 to $280.00 and set an “overweight” rating on the stock in a report on Monday, October 16th. Keefe, Bruyette & Woods reiterated a “sell” rating and issued a $230.00 price objective on shares of Everest Re Group in a report on Friday, October 13th. Wells Fargo & Co set a $240.00 price objective on Everest Re Group and gave the company a “hold” rating in a report on Monday, October 30th. Finally, Zacks Investment Research upgraded Everest Re Group from a “sell” rating to a “hold” rating in a report on Friday, November 10th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $245.44.
Everest Re Group (RE) traded up $2.84 during mid-day trading on Monday, hitting $222.81. The stock had a trading volume of 365,390 shares, compared to its average volume of 451,624. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $9,130.00, a price-to-earnings ratio of 33.91, a PEG ratio of 1.09 and a beta of 0.61. Everest Re Group has a 1-year low of $208.81 and a 1-year high of $277.17.
Everest Re Group (NYSE:RE) last posted its quarterly earnings results on Monday, October 30th. The insurance provider reported ($16.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.68 by ($20.11). The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter last year, the company earned $6.53 earnings per share. equities research analysts forecast that Everest Re Group will post 1.23 earnings per share for the current fiscal year.
In other news, Director John A. Graf purchased 2,285 shares of the firm’s stock in a transaction on Monday, January 8th. The shares were bought at an average cost of $219.07 per share, for a total transaction of $500,574.95. Following the completion of the purchase, the director now directly owns 5,550 shares of the company’s stock, valued at $1,215,838.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William F. Galtney, Jr. purchased 6,000 shares of the firm’s stock in a transaction on Monday, November 20th. The shares were purchased at an average price of $225.29 per share, for a total transaction of $1,351,740.00. The disclosure for this purchase can be found here. Insiders have acquired 8,323 shares of company stock worth $1,860,654 over the last 90 days. 1.30% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of RE. Vanguard Group Inc. increased its position in shares of Everest Re Group by 23.1% during the second 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 period. State Street Corp increased its position in shares of Everest Re Group by 26.4% during the second quarter. State Street Corp now owns 2,157,326 shares of the insurance provider’s stock worth $549,219,000 after acquiring an additional 450,606 shares during the period. Janus Henderson Group PLC increased its position in shares of Everest Re Group by 7,587.2% during the second quarter. Janus Henderson Group PLC now owns 344,770 shares of the insurance provider’s stock worth $87,775,000 after acquiring an additional 340,285 shares during the period. APG Asset Management N.V. increased its position in shares of Everest Re Group by 43.6% during the third quarter. APG Asset Management N.V. now owns 1,032,662 shares of the insurance provider’s stock worth $235,850,000 after acquiring an additional 313,700 shares during the period. Finally, American Century Companies Inc. increased its position in shares of Everest Re Group by 190.2% during the second quarter. American Century Companies Inc. now owns 281,630 shares of the insurance provider’s stock worth $71,700,000 after acquiring an additional 184,576 shares during the period. 93.22% of the stock is currently owned by institutional investors and hedge funds.
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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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