Everest Re Group, Ltd. (NYSE:RE) had its target price cut by equities researchers at UBS AG from $256.00 to $240.00 in a research report issued to clients and investors on Tuesday, www.benzinga.com reports. The brokerage presently has a “neutral” rating on the insurance provider’s stock. UBS AG’s target price would suggest a potential upside of 5.88% from the stock’s current price.

A number of other brokerages have also recently issued reports on RE. Wells Fargo & Company restated a “hold” rating on shares of Everest Re Group in a research note on Monday, July 24th. Barclays PLC increased their price objective on shares of Everest Re Group from $299.00 to $305.00 and gave the company an “overweight” rating in a research note on Friday, August 11th. Zacks Investment Research cut shares of Everest Re Group from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. BidaskClub upgraded shares of Everest Re Group from a “hold” rating to a “buy” rating in a research note on Wednesday, July 5th. Finally, Keefe, Bruyette & Woods cut shares of Everest Re Group from a “market perform” rating to an “underperform” rating and dropped their price objective for the company from $251.00 to $245.00 in a research note on Monday, July 17th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. Everest Re Group has a consensus rating of “Hold” and a consensus target price of $249.00.

Everest Re Group (NYSE RE) opened at 226.67 on Tuesday. Everest Re Group has a 12-month low of $183.04 and a 12-month high of $277.17. The firm has a market capitalization of $9.31 billion, a price-to-earnings ratio of 7.78 and a beta of 0.64. The stock has a 50 day moving average of $252.32 and a 200 day moving average of $248.73.

Everest Re Group (NYSE:RE) last announced its quarterly earnings data on Monday, July 24th. The insurance provider reported $5.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.24 by $0.27. Everest Re Group had a net margin of 19.65% and a return on equity of 13.60%. The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the prior year, the company posted $3.17 EPS. Equities research analysts anticipate that Everest Re Group will post $20.42 earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: This news story was first posted by American Banking News and is owned by of American Banking News. If you are accessing this news story on another website, it was stolen and reposted in violation of U.S. & international trademark and copyright legislation. The correct version of this news story can be read at https://www.americanbankingnews.com/2017/09/19/everest-re-group-ltd-re-price-target-cut-to-240-00-by-analysts-at-ubs-ag.html.

Several institutional investors have recently made changes to their positions in the stock. Huntington National Bank increased its position in shares of Everest Re Group by 1.5% during the 2nd quarter. Huntington National Bank now owns 921 shares of the insurance provider’s stock worth $235,000 after purchasing an additional 14 shares in the last quarter. Torray LLC increased its position in shares of Everest Re Group by 0.8% during the 2nd quarter. Torray LLC now owns 1,831 shares of the insurance provider’s stock worth $466,000 after purchasing an additional 15 shares in the last quarter. Wetherby Asset Management Inc. increased its position in shares of Everest Re Group by 2.0% during the 2nd quarter. Wetherby Asset Management Inc. now owns 1,295 shares of the insurance provider’s stock worth $330,000 after purchasing an additional 25 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Everest Re Group by 0.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,634 shares of the insurance provider’s stock worth $1,784,000 after purchasing an additional 28 shares in the last quarter. Finally, First Merchants Corp increased its position in shares of Everest Re Group by 0.4% during the 2nd quarter. First Merchants Corp now owns 8,137 shares of the insurance provider’s stock worth $2,072,000 after purchasing an additional 35 shares in the last quarter. Institutional investors and hedge funds own 92.44% 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.

Analyst Recommendations for Everest Re Group (NYSE:RE)

Receive News & Ratings for Everest Re Group Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Everest Re Group Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.