Everest Re Group, Ltd. (NYSE:RE) was downgraded by equities researchers at ValuEngine from a “strong-buy” rating to a “buy” rating in a research note issued on Thursday.

RE has been the topic of several other reports. Zacks Investment Research raised Everest Re Group from a “hold” rating to a “buy” rating and set a $294.00 target price on the stock in a research report on Tuesday, August 1st. UBS AG reissued a “neutral” rating and issued a $256.00 target price (up from $251.00) on shares of Everest Re Group in a research report on Tuesday, August 1st. Barclays PLC upped their target price on Everest Re Group from $299.00 to $305.00 and gave the company an “overweight” rating in a research report on Friday, August 11th. BidaskClub downgraded Everest Re Group from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Finally, Keefe, Bruyette & Woods downgraded Everest Re Group from a “market perform” rating to an “underperform” rating and cut their target price for the company from $251.00 to $245.00 in a research report on Monday, July 17th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. Everest Re Group presently has a consensus rating of “Hold” and an average target price of $250.25.

Shares of Everest Re Group (NYSE:RE) traded down 6.79% during mid-day trading on Thursday, hitting $211.94. The company had a trading volume of 1,196,443 shares. The company has a market capitalization of $8.70 billion, a price-to-earnings ratio of 7.27 and a beta of 0.64. The company has a 50-day moving average price of $259.40 and a 200-day moving average price of $248.92. Everest Re Group has a 1-year low of $183.04 and a 1-year high of $277.17.

Everest Re Group (NYSE:RE) last released its earnings results on Monday, July 24th. The insurance provider reported $5.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.24 by $0.27. Everest Re Group had a return on equity of 13.60% and a net margin of 19.65%. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the prior year, the firm earned $3.17 EPS. On average, equities analysts anticipate that Everest Re Group will post $20.85 EPS for the current year.

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A number of institutional investors and hedge funds have recently made changes to their positions in the business. Global X Management Co. LLC grew its position in shares of Everest Re Group by 177.7% during the 2nd quarter. Global X Management Co. LLC now owns 561 shares of the insurance provider’s stock valued at $102,000 after acquiring an additional 359 shares during the period. Toronto Dominion Bank grew its position in shares of Everest Re Group by 23.1% during the 1st quarter. Toronto Dominion Bank now owns 447 shares of the insurance provider’s stock valued at $104,000 after acquiring an additional 84 shares during the period. Checchi Capital Advisers LLC grew its position in shares of Everest Re Group by 3.5% during the 2nd quarter. Checchi Capital Advisers LLC now owns 619 shares of the insurance provider’s stock valued at $113,000 after acquiring an additional 21 shares during the period. IFP Advisors Inc grew its position in shares of Everest Re Group by 1.6% during the 1st quarter. IFP Advisors Inc now owns 509 shares of the insurance provider’s stock valued at $119,000 after acquiring an additional 8 shares during the period. Finally, TLP Group LLC acquired a new stake in shares of Everest Re Group during the 3rd quarter valued at about $121,000. 92.39% of the stock is currently owned by institutional investors.

About Everest Re Group

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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