Everest Re Group Ltd (NYSE:RE) – Investment analysts at Langen Mcalenn reduced their Q4 2017 earnings per share (EPS) estimates for Everest Re Group in a note issued to investors on Tuesday. Langen Mcalenn analyst L. Greenberg now forecasts that the insurance provider will earn $4.79 per share for the quarter, down from their previous forecast of $6.19.
RE has been the subject of a number of other reports. Zacks Investment Research raised Everest Re Group from a “hold” rating to a “strong-buy” rating and set a $253.00 target price for the company in a research report on Friday, January 5th. Keefe, Bruyette & Woods reaffirmed a “sell” rating and issued a $230.00 price target on shares of Everest Re Group in a report on Friday, October 13th. ValuEngine lowered Everest Re Group from a “buy” rating to a “hold” rating in a report on Thursday, October 5th. UBS Group raised their price target on Everest Re Group from $230.00 to $245.00 and gave the stock a “neutral” rating in a report on Monday, November 6th. Finally, Barclays cut their price target on Everest Re Group from $305.00 to $280.00 and set an “overweight” rating for the company in a report on Monday, October 16th. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Everest Re Group has an average rating of “Hold” and an average target price of $252.88.
Shares of Everest Re Group (NYSE:RE) opened at $223.24 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.33 and a quick ratio of 0.33. Everest Re Group has a 52-week low of $208.81 and a 52-week high of $277.17. The stock has a market capitalization of $9,281.75, a price-to-earnings ratio of 53.81, a price-to-earnings-growth ratio of 1.12 and a beta of 0.61.
Everest Re Group (NYSE:RE) last released its earnings results on Monday, October 30th. The insurance provider reported ($16.43) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.68 by ($20.11). Everest Re Group had a return on equity of 2.22% and a net margin of 4.27%. The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.62 billion. During the same period in the prior year, the business earned $6.53 earnings per share. The business’s quarterly revenue was up 16.6% compared to the same quarter last year.
In other news, Director John A. Graf purchased 2,285 shares of the stock in a transaction on Monday, January 8th. The shares were acquired at an average price of $219.07 per share, for a total transaction of $500,574.95. Following the completion of the transaction, the director now directly owns 5,550 shares of the company’s stock, valued at approximately $1,215,838.50. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director William F. Galtney, Jr. purchased 6,000 shares of the 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 in the last 90 days. Company insiders own 1.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RE. Vanguard Group Inc. increased its holdings in shares of Everest Re Group by 23.1% in the second quarter. Vanguard Group Inc. now owns 3,756,913 shares of the insurance provider’s stock worth $956,473,000 after buying an additional 704,287 shares during the period. State Street Corp increased its holdings in shares of Everest Re Group by 26.4% in the second quarter. State Street Corp now owns 2,157,326 shares of the insurance provider’s stock worth $549,219,000 after buying an additional 450,606 shares during the period. APG Asset Management N.V. increased its holdings in shares of Everest Re Group by 43.6% in 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 buying an additional 313,700 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Everest Re Group by 22.0% in the third quarter. JPMorgan Chase & Co. now owns 714,377 shares of the insurance provider’s stock worth $159,219,000 after buying an additional 128,867 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of Everest Re Group by 5.4% in the second quarter. Northern Trust Corp now owns 676,890 shares of the insurance provider’s stock worth $172,330,000 after buying an additional 34,827 shares during the period. Institutional investors and hedge funds own 93.37% of the company’s stock.
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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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