Everest Re Group, Ltd. (RE) Given Consensus Recommendation of “Hold” by Analysts
Everest Re Group, Ltd. (NYSE:RE) has been given a consensus rating of “Hold” by the twelve ratings firms that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $245.38.
RE has been the subject of a number of research analyst reports. ValuEngine upgraded shares of Everest Re Group from a “buy” rating to a “strong-buy” rating in a report on Friday, June 2nd. BidaskClub upgraded shares of Everest Re Group from a “hold” rating to a “buy” rating in a report on Wednesday, July 5th. Morgan Stanley reiterated an “equal weight” rating and set a $259.00 price objective (up previously from $250.00) on shares of Everest Re Group in a report on Thursday, July 6th. Zacks Investment Research upgraded shares of Everest Re Group from a “hold” rating to a “buy” rating and set a $293.00 price objective for the company in a report on Friday, July 7th. Finally, Keefe, Bruyette & Woods lowered shares of Everest Re Group from a “market perform” rating to an “underperform” rating and decreased their price objective for the company from $251.00 to $245.00 in a report on Monday, July 17th.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Toronto Dominion Bank increased its position in 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 purchasing an additional 84 shares during the period. Acrospire Investment Management LLC increased its position in Everest Re Group by 66.7% during the 2nd quarter. Acrospire Investment Management LLC now owns 500 shares of the insurance provider’s stock valued at $127,000 after purchasing an additional 200 shares during the period. Pacer Advisors Inc. purchased a new position in Everest Re Group during the 2nd quarter valued at about $160,000. IFP Advisors Inc increased its position in Everest Re Group by 29.1% during the 2nd quarter. IFP Advisors Inc now owns 657 shares of the insurance provider’s stock valued at $167,000 after purchasing an additional 148 shares during the period. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in Everest Re Group during the 1st quarter valued at about $200,000. 92.39% of the stock is currently owned by institutional investors and hedge funds.
Shares of Everest Re Group (RE) traded up 1.03% during trading on Friday, hitting $231.66. 540,138 shares of the company traded hands. Everest Re Group has a 52 week low of $183.04 and a 52 week high of $277.17. The company has a 50 day moving average price of $253.26 and a 200 day moving average price of $248.64. The company has a market capitalization of $9.51 billion, a price-to-earnings ratio of 7.95 and a beta of 0.64.
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, topping the Thomson Reuters’ consensus estimate of $5.24 by $0.27. The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.46 billion. Everest Re Group had a net margin of 19.65% and a return on equity of 13.60%. During the same quarter last year, the business earned $3.17 EPS. On average, analysts expect that Everest Re Group will post $20.42 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend is Friday, September 1st. Everest Re Group’s dividend payout ratio (DPR) is 17.15%.
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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