Everest Re Group, Ltd. (NYSE:RE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Monday. The firm presently has a $295.00 target price on the insurance provider’s stock. Zacks Investment Research‘s price objective points to a potential upside of 11.85% from the company’s previous close.

According to Zacks, “Shares of Everest Re outperformed the Zacks categorized Property and Casualty industry year to date. Everest Re is well positioned in the insurance and reinsurance industries. The insurer has substantially benefited from its global presence, product diversification, capital adequacy, financial flexibility and traditional risk management capabilities. Banking on favorable operational performance the company enjoys disciplined capital management strategy and strong capital balance position. However, a competitive reinsurance market and exposure to catastrophe events infusing underwriting volatility remain headwinds. The company is set to release second quarter results on Jul 24. Our proven model state that the compnay will likely beat earnings this quarter because it has the right combination of a Zacks Rank #3 and Earnings ESP of 1.52%.”

Several other research analysts have also issued reports on RE. Keefe, Bruyette & Woods lowered Everest Re Group from a “market perform” rating to an “underperform” rating in a research note on Monday. Morgan Stanley restated an “equal weight” rating and set a $259.00 target price (up previously from $250.00) on shares of Everest Re Group in a report on Thursday, July 6th. BidaskClub upgraded Everest Re Group from a “hold” rating to a “buy” rating in a report on Wednesday, July 5th. ValuEngine upgraded Everest Re Group from a “buy” rating to a “strong-buy” rating in a report on Friday, June 2nd. Finally, Barclays PLC increased their target price on Everest Re Group from $269.00 to $299.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 25th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $242.86.

Shares of Everest Re Group (NYSE RE) traded up 0.25% during trading on Monday, hitting $264.42. 104,868 shares of the stock traded hands. Everest Re Group has a 52 week low of $176.51 and a 52 week high of $268.38. The company has a market cap of $10.86 billion, a price-to-earnings ratio of 9.87 and a beta of 0.63. The firm’s 50-day moving average price is $251.28 and its 200-day moving average price is $235.40.

Everest Re Group (NYSE:RE) last released its quarterly earnings data on Monday, April 24th. The insurance provider reported $6.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.35 by $0.94. Everest Re Group had a return on equity of 12.70% and a net margin of 18.49%. The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same period in the prior year, the company posted $5.19 earnings per share. On average, equities research analysts anticipate that Everest Re Group will post $20.86 earnings per share for the current year.

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In other news, VP John P. Doucette sold 1,000 shares of the stock in a transaction on Thursday, April 27th. The stock was sold at an average price of $256.03, for a total transaction of $256,030.00. Following the sale, the vice president now owns 21,834 shares in the company, valued at $5,590,159.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the stock. Toronto Dominion Bank boosted its position in Everest Re Group by 23.1% in the first quarter. Toronto Dominion Bank now owns 447 shares of the insurance provider’s stock valued at $104,000 after buying an additional 84 shares in the last quarter. IFP Advisors Inc boosted its position in Everest Re Group by 1.6% in the first quarter. IFP Advisors Inc now owns 509 shares of the insurance provider’s stock valued at $119,000 after buying an additional 8 shares in the last quarter. Assetmark Inc. purchased a new position in Everest Re Group during the first quarter valued at about $142,000. Raymond James Financial Services Advisors Inc. purchased a new position in Everest Re Group during the first quarter valued at about $200,000. Finally, Tokio Marine Asset Management Co. Ltd. purchased a new position in Everest Re Group during the first quarter valued at about $204,000. Institutional investors and hedge funds own 92.34% of the company’s stock.

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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Analyst Recommendations for Everest Re Group (NYSE:RE)

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