Everest Re Group Ltd. (RE) Announces Quarterly Dividend of $0.75
Everest Re Group (NYSE:RE) declared a quarterly dividend on Wednesday, May 14th, American Banking News.com reports. Investors of record on Wednesday, June 4th will be given a dividend of 0.75 per share on Wednesday, June 18th. This represents a $3.00 dividend on an annualized basis and a yield of 1.89%.
On a related note, analysts at Zacks reiterated a “neutral” rating on shares of Everest Re Group in a research note on Wednesday, April 2nd. They now have a $144.00 price target on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $161.20.
Everest Re Group (NYSE:RE) traded down 1.02% on Wednesday, hitting $156.94. 418,768 shares of the company’s stock traded hands. Everest Re Group has a 52-week low of $122.89 and a 52-week high of $161.52. The stock’s 50-day moving average is $155.7 and its 200-day moving average is $151.8. The company has a market cap of $7.228 billion and a price-to-earnings ratio of 6.59.
Everest Re Group (NYSE:RE) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $5.93 earnings per share for the quarter, beating the analysts’ consensus estimate of $5.33 by $0.60. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter last year, the company posted $5.88 earnings per share. Everest Re Group’s revenue was up 5.1% compared to the same quarter last year. On average, analysts predict that Everest Re Group will post $18.81 earnings per share for the current fiscal year.
In other Everest Re Group news, EVP Saram Mark De sold 1,683 shares of Everest Re Group stock on the open market in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $158.68, for a total transaction of $267,058.44. Following the transaction, the executive vice president now directly owns 33,087 shares in the company, valued at approximately $5,250,245. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Everest Re Group, Ltd. through its subsidiaries, is principally engaged in the underwriting of reinsurance and insurance in the United States, Bermuda and international markets.
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