Insider Selling: Everest Re Group Director Sells 5,000 Shares of Stock (RE)
Everest Re Group (NYSE:RE) Director Lawrence Tomchin sold 5,000 shares of the stock on the open market in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $94.15, for a total transaction of $470,750.00. Following the completion of the sale, the director now directly owns 172,980 shares of the company’s stock, valued at approximately $16,286,067. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Everest Re Group in a research note on Monday, July 28th. They now have a $168.00 price target on the stock. Separately, analysts at Deutsche Bank reiterated a “hold” rating on shares of Everest Re Group in a research note on Friday, July 25th. They now have a $169.00 price target on the stock, down previously from $170.00. Finally, analysts at Barclays raised their price target on shares of Everest Re Group from $174.00 to $176.00 in a research note on Monday, June 30th. They now have an “overweight” rating on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $168.25.
Everest Re Group (NYSE:RE) traded up 0.15% on Friday, hitting $162.17. The stock had a trading volume of 221,225 shares. Everest Re Group has a 1-year low of $134.10 and a 1-year high of $165.65. The stock has a 50-day moving average of $161.0 and a 200-day moving average of $155.4. The company has a market cap of $7.374 billion and a price-to-earnings ratio of 6.53.
Everest Re Group (NYSE:RE) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $5.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.57 by $0.16. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the previous year, the company posted $5.10 earnings per share. The company’s revenue for the quarter was up 10.4% on a year-over-year basis. Analysts expect that Everest Re Group will post $19.15 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, September 10th. Shareholders of record on Wednesday, August 27th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.85%. The ex-dividend date is Monday, August 25th.
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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