Shares of Everest Re Group Ltd (NYSE:RE) have earned a consensus recommendation of “Buy” from the eleven ratings firms that are currently covering the company, Marketbeat reports. Six equities research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $260.75.
RE has been the topic of a number of analyst reports. Zacks Investment Research upgraded Everest Re Group from a “hold” rating to a “strong-buy” rating and set a $253.00 price target on the stock in a research note on Friday, January 5th. Morgan Stanley restated an “equal weight” rating and issued a $258.00 price target (up from $247.00) on shares of Everest Re Group in a research note on Thursday, March 1st. Wells Fargo restated a “market perform” rating and issued a $235.00 price target (down from $240.00) on shares of Everest Re Group in a research note on Tuesday, January 9th. TheStreet upgraded Everest Re Group from a “c+” rating to a “b-” rating in a research note on Monday, January 22nd. Finally, Barclays restated a “buy” rating and issued a $290.00 price target (up from $279.00) on shares of Everest Re Group in a research note on Sunday, February 18th.
Shares of NYSE RE opened at $254.25 on Wednesday. The firm has a market capitalization of $10,383.51, a PE ratio of 28.73, a P/E/G ratio of 1.13 and a beta of 0.45. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.33 and a current ratio of 0.33. Everest Re Group has a 12-month low of $208.81 and a 12-month high of $277.17.
Everest Re Group (NYSE:RE) last posted its quarterly earnings results on Monday, February 5th. The insurance provider reported $13.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $6.04 by $7.44. Everest Re Group had a return on equity of 4.51% and a net margin of 7.10%. The company had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same period last year, the firm earned $9.08 earnings per share. Everest Re Group’s quarterly revenue was up 15.7% on a year-over-year basis. analysts anticipate that Everest Re Group will post 22.46 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 21st. Shareholders of record on Wednesday, March 7th were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date was Tuesday, March 6th. Everest Re Group’s dividend payout ratio is presently 57.14%.
In other Everest Re Group news, Director Roger M. Singer sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $244.58, for a total transaction of $244,580.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP John P. Doucette sold 300 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $242.84, for a total value of $72,852.00. Following the transaction, the vice president now directly owns 21,434 shares in the company, valued at approximately $5,205,032.56. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.
Several hedge funds have recently modified their holdings of the business. Boston Partners purchased a new position in shares of Everest Re Group during the fourth quarter worth about $385,136,000. Vulcan Value Partners LLC grew its holdings in shares of Everest Re Group by 0.6% during the fourth quarter. Vulcan Value Partners LLC now owns 1,443,878 shares of the insurance provider’s stock worth $319,473,000 after purchasing an additional 8,517 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of Everest Re Group by 5.0% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 629,745 shares of the insurance provider’s stock worth $139,336,000 after purchasing an additional 29,728 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Everest Re Group by 58.2% during the third quarter. Janus Henderson Group PLC now owns 545,518 shares of the insurance provider’s stock worth $124,591,000 after purchasing an additional 200,748 shares during the last quarter. Finally, Alliancebernstein L.P. grew its holdings in shares of Everest Re Group by 494.0% during the fourth quarter. Alliancebernstein L.P. now owns 478,879 shares of the insurance provider’s stock worth $105,957,000 after purchasing an additional 398,257 shares during the last quarter. 92.55% of the stock is currently owned by institutional investors.
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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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