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 company’s stock on the open market in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $94.15, for a total transaction of $470,750.00. Following the sale, the director now directly owns 172,980 shares of the company’s stock, valued at approximately $16,286,067. The sale was disclosed in a document filed with the SEC, which is available at this link.
Shares of Everest Re Group (NYSE:RE) traded up 0.46% during mid-day trading on Friday, hitting $162.67. 322,275 shares of the company’s stock traded hands. Everest Re Group has a 52-week low of $134.10 and a 52-week high of $165.65. The stock has a 50-day moving average of $161. and a 200-day moving average of $155.5. The company has a market cap of $7.397 billion and a price-to-earnings ratio of 6.53.
Everest Re Group (NYSE:RE) last announced its earnings results on Wednesday, July 23rd. The company reported $5.41 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $5.10 earnings per share. The company’s quarterly revenue was up 10.4% on a year-over-year basis. On average, analysts predict that Everest Re Group will post $19.15 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, September 10th. Stockholders 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 1.84%. The ex-dividend date is Monday, August 25th.
A number of research firms have recently commented on RE. 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 assigned a hold rating and one has assigned a buy rating to the company. Everest Re Group presently has an average rating of “Hold” and an average target price of $168.25.
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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