Everest Re Group, Ltd. (RE) Announces Quarterly Earnings Results
Everest Re Group, Ltd. (NYSE:RE) announced its quarterly earnings results on Monday. The insurance provider reported $5.51 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $5.24 by $0.27, Briefing.com reports. Everest Re Group had a net margin of 18.49% and a return on equity of 12.70%. During the same period in the prior year, the business posted $3.17 earnings per share.
Everest Re Group (NYSE:RE) opened at 271.12 on Tuesday. The company has a 50-day moving average of $259.24 and a 200-day moving average of $241.15. The stock has a market cap of $11.13 billion, a PE ratio of 10.12 and a beta of 0.63. Everest Re Group has a 12 month low of $183.04 and a 12 month high of $273.55.
A number of analysts have recently issued reports on the stock. Wells Fargo & Company reaffirmed a “hold” rating on shares of Everest Re Group in a report on Monday. BidaskClub raised shares of Everest Re Group from a “hold” rating to a “buy” rating in a report on Wednesday, July 5th. Keefe, Bruyette & Woods downgraded shares of Everest Re Group from a “market perform” rating to an “underperform” rating and dropped their price objective for the stock from $251.00 to $245.00 in a report on Monday, July 17th. Zacks Investment Research raised shares of Everest Re Group from a “hold” rating to a “buy” rating and set a $295.00 price objective for the company in a report on Monday, July 17th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $259.00 price objective (up from $250.00) on shares of Everest Re Group in a report on Thursday, July 6th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Everest Re Group has a consensus rating of “Hold” and an average target price of $248.71.
In other Everest Re Group news, VP John P. Doucette sold 1,000 shares of the stock in a transaction on Thursday, April 27th. The shares were sold at an average price of $256.03, for a total transaction of $256,030.00. Following the completion of the transaction, the vice president now owns 21,834 shares in the company, valued at $5,590,159.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is owned by company insiders.
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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