Wells Fargo & Co set a $240.00 price objective on Everest Re Group (NYSE:RE) in a research note released on Monday morning. The brokerage currently has a hold rating on the insurance provider’s stock.
Several other equities analysts have also commented on RE. ValuEngine lowered shares of Everest Re Group from a buy rating to a hold rating in a report on Thursday, April 26th. Zacks Investment Research lowered shares of Everest Re Group from a strong-buy rating to a hold rating in a report on Wednesday, April 11th. TheStreet upgraded shares of Everest Re Group from a c+ rating to a b- rating in a report on Monday, January 22nd. Barclays restated a buy rating and issued a $290.00 price objective (up from $279.00) on shares of Everest Re Group in a report on Sunday, February 18th. Finally, Morgan Stanley restated an equal weight rating and issued a $258.00 price objective (up from $247.00) on shares of Everest Re Group in a report on Thursday, March 1st. Eight analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Everest Re Group presently has an average rating of Hold and a consensus price target of $260.57.
Everest Re Group opened at $226.54 on Monday, MarketBeat.com reports. Everest Re Group has a 1-year low of $208.81 and a 1-year high of $277.17. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.33 and a quick ratio of 0.33. The company has a market capitalization of $9.38 billion, a PE ratio of 24.91, a PEG ratio of 1.10 and a beta of 0.46.
Everest Re Group (NYSE:RE) last posted its quarterly earnings results on Wednesday, April 25th. The insurance provider reported $5.34 earnings per share for the quarter, missing the consensus estimate of $5.40 by ($0.06). Everest Re Group had a net margin of 5.64% and a return on equity of 4.04%. The firm had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same period last year, the company earned $6.48 EPS. equities analysts forecast that Everest Re Group will post 20.86 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 13th. Shareholders of record on Wednesday, May 30th will be issued a dividend of $1.30 per share. The ex-dividend date is Tuesday, May 29th. This represents a $5.20 dividend on an annualized basis and a yield of 2.30%. Everest Re Group’s dividend payout ratio (DPR) is presently 57.14%.
In other Everest Re Group news, Director Roger M. Singer sold 1,000 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $244.58, for a total transaction of $244,580.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.30% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the business. Focused Wealth Management Inc acquired a new stake in Everest Re Group during the 4th quarter worth approximately $111,000. Robecosam AG acquired a new stake in Everest Re Group during the 1st quarter worth approximately $131,000. Cerebellum GP LLC acquired a new stake in Everest Re Group during the 4th quarter worth approximately $133,000. Advisors Preferred LLC acquired a new stake in Everest Re Group during the 1st quarter worth approximately $138,000. Finally, Tower Research Capital LLC TRC acquired a new stake in Everest Re Group during the 4th quarter worth approximately $144,000. Institutional investors own 91.40% of the company’s stock.
Everest Re Group Company Profile
Everest Re Group, Ltd., through its subsidiaries, provides reinsurance and insurance products. The company operates through the U.S. Reinsurance, International, Bermuda, and Insurance segments. The U.S. Reinsurance segment writes property and casualty reinsurance; and specialty lines of business, including marine, aviation, surety, and accident and health insurance through reinsurance brokers, as well as directly with ceding companies in the Unites States.
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