Everest Re Group Ltd (RE) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Everest Re Group Ltd (NYSE:RE) have been assigned a consensus recommendation of “Hold” from the eleven analysts that are presently covering the company, Marketbeat reports. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $252.86.

Several analysts have recently commented on the stock. Zacks Investment Research downgraded shares of Everest Re Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 10th. UBS Group reduced their price objective on shares of Everest Re Group from $240.00 to $230.00 and set a “neutral” rating for the company in a research report on Monday, October 2nd. Keefe, Bruyette & Woods reaffirmed a “sell” rating and set a $216.00 price objective on shares of Everest Re Group in a research report on Friday, November 3rd. TheStreet downgraded shares of Everest Re Group from a “b” rating to a “c+” rating in a research report on Monday, December 18th. Finally, Wells Fargo & Co set a $240.00 price objective on shares of Everest Re Group and gave the stock a “hold” rating in a research report on Monday, October 30th.

Shares of Everest Re Group (NYSE:RE) traded up $1.36 during mid-day trading on Friday, hitting $224.60. 259,152 shares of the stock traded hands, compared to its average volume of 392,215. The firm has a market cap of $9,230.00, a P/E ratio of 34.19, a price-to-earnings-growth ratio of 1.12 and a beta of 0.61. Everest Re Group has a one year low of $208.81 and a one year high of $277.17. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.08.

Everest Re Group (NYSE:RE) last announced its quarterly earnings data on Monday, October 30th. The insurance provider reported ($16.43) EPS for the quarter, missing the consensus estimate of $3.68 by ($20.11). The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.62 billion. Everest Re Group had a return on equity of 2.22% and a net margin of 4.27%. The business’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same period last year, the business earned $6.53 EPS. equities analysts expect that Everest Re Group will post 1.28 EPS for the current year.

In other Everest Re Group news, Director John A. Graf purchased 2,285 shares of Everest Re Group stock in a transaction that occurred on Monday, January 8th. The stock was acquired at an average price of $219.07 per share, with a total value of $500,574.95. Following the transaction, the director now owns 5,550 shares in the company, valued at approximately $1,215,838.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William F. Galtney, Jr. purchased 6,000 shares of Everest Re Group stock in a transaction that occurred on Monday, November 20th. The stock was acquired at an average cost of $225.29 per share, with a total value of $1,351,740.00. The disclosure for this purchase can be found here. In the last three months, insiders purchased 8,323 shares of company stock valued at $1,860,654. 1.30% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Toronto Dominion Bank grew its position in Everest Re Group by 12.0% in the 3rd quarter. Toronto Dominion Bank now owns 15,579 shares of the insurance provider’s stock valued at $3,558,000 after purchasing an additional 1,667 shares during the period. AXA boosted its holdings in Everest Re Group by 165.0% during the 3rd quarter. AXA now owns 119,964 shares of the insurance provider’s stock worth $27,399,000 after acquiring an additional 74,700 shares during the last quarter. Stifel Financial Corp boosted its holdings in Everest Re Group by 32.1% during the 2nd quarter. Stifel Financial Corp now owns 10,755 shares of the insurance provider’s stock worth $2,740,000 after acquiring an additional 2,611 shares during the last quarter. Magnetar Financial LLC boosted its holdings in Everest Re Group by 15.7% during the 3rd quarter. Magnetar Financial LLC now owns 10,539 shares of the insurance provider’s stock worth $2,407,000 after acquiring an additional 1,430 shares during the last quarter. Finally, APG Asset Management N.V. boosted its holdings in Everest Re Group by 43.6% during the 3rd quarter. APG Asset Management N.V. now owns 1,032,662 shares of the insurance provider’s stock worth $235,850,000 after acquiring an additional 313,700 shares during the last quarter. 93.37% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Everest Re Group (NYSE:RE)

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