Everest Re Group, Ltd. (RE) Receives Average Rating of “Hold” from Analysts
Everest Re Group, Ltd. (NYSE:RE) has been given an average rating of “Hold” by the twelve research firms that are presently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $235.89.
RE has been the topic of several research reports. ValuEngine upgraded shares of Everest Re Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Wells Fargo & Company set a $240.00 price target on shares of Everest Re Group and gave the company a “hold” rating in a research report on Monday, October 30th. Zacks Investment Research lowered shares of Everest Re Group from a “buy” rating to a “hold” rating in a research report on Monday, July 10th. Keefe, Bruyette & Woods reiterated a “sell” rating and issued a $230.00 price target on shares of Everest Re Group in a research report on Friday, October 13th. Finally, UBS AG lowered their price target on shares of Everest Re Group from $256.00 to $240.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 19th.
Several institutional investors and hedge funds have recently made changes to their positions in RE. Nuveen Asset Management LLC lifted its stake in shares of Everest Re Group by 91.7% during the first quarter. Nuveen Asset Management LLC now owns 35,684 shares of the insurance provider’s stock valued at $8,343,000 after buying an additional 17,067 shares during the period. Livforsakringsbolaget Skandia Omsesidigt raised its stake in Everest Re Group by 9.2% during the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 9,482 shares of the insurance provider’s stock worth $2,414,000 after purchasing an additional 800 shares during the period. Xact Kapitalforvaltning AB raised its stake in Everest Re Group by 14.4% during the second quarter. Xact Kapitalforvaltning AB now owns 12,167 shares of the insurance provider’s stock worth $3,098,000 after purchasing an additional 1,530 shares during the period. Capstone Asset Management Co. raised its stake in Everest Re Group by 30.0% during the second quarter. Capstone Asset Management Co. now owns 6,867 shares of the insurance provider’s stock worth $1,748,000 after purchasing an additional 1,583 shares during the period. Finally, Atria Investments LLC purchased a new position in Everest Re Group during the second quarter worth approximately $222,000. 93.39% of the stock is currently owned by institutional investors and hedge funds.
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Shares of Everest Re Group (NYSE:RE) traded up $0.40 on Friday, reaching $227.84. 500,660 shares of the company’s stock traded hands, compared to its average volume of 509,707. The company has a quick ratio of 0.30, a current ratio of 0.33 and a debt-to-equity ratio of 0.08. Everest Re Group has a one year low of $205.02 and a one year high of $277.17. The firm has a market capitalization of $9,356.02, a price-to-earnings ratio of 54.25, a P/E/G ratio of 13.15 and a beta of 0.65.
Everest Re Group (NYSE:RE) last issued its earnings results on Monday, October 30th. The insurance provider reported ($16.43) earnings per share for the quarter, missing the consensus estimate of $3.68 by ($20.11). Everest Re Group had a return on equity of 2.22% and a net margin of 4.27%. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.62 billion. During the same quarter in the previous year, the company posted $6.53 earnings per share. The company’s quarterly revenue was up 16.6% compared to the same quarter last year. sell-side analysts predict that Everest Re Group will post 1.73 EPS for the current fiscal year.
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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