Everest Re Group Ltd (RE) Receives Average Recommendation of “Hold” from Brokerages

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

A number of equities research analysts recently commented on RE shares. TheStreet cut shares of Everest Re Group from a “b” rating to a “c+” rating in a research report on Monday, December 18th. Wells Fargo & Co reissued a “market perform” rating and set a $235.00 target price (down previously from $240.00) on shares of Everest Re Group in a research report on Tuesday, January 9th. Zacks Investment Research raised shares of Everest Re Group from a “hold” rating to a “strong-buy” rating and set a $253.00 target price for the company in a research report on Friday, January 5th. Barclays decreased their target price on shares of Everest Re Group from $305.00 to $280.00 and set an “overweight” rating for the company in a research report on Monday, October 16th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $234.00 target price on shares of Everest Re Group in a research report on Wednesday, December 6th.

In related news, Director John A. Graf purchased 2,285 shares of the business’s stock in a transaction on Monday, January 8th. The shares were acquired at an average price of $219.07 per share, for a total transaction of $500,574.95. Following the purchase, the director now owns 5,550 shares of the company’s stock, valued at approximately $1,215,838.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William F. Galtney, Jr. purchased 6,000 shares of the business’s stock in a transaction on Monday, November 20th. The shares were bought at an average price of $225.29 per share, for a total transaction of $1,351,740.00. The disclosure for this purchase can be found here. Insiders have purchased 8,323 shares of company stock valued at $1,860,654 in the last three months. 1.30% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of RE. FMR LLC acquired a new position in Everest Re Group during the 2nd quarter valued at approximately $12,452,000. Gotham Asset Management LLC acquired a new position in Everest Re Group during the 2nd quarter valued at approximately $764,000. The Manufacturers Life Insurance Company acquired a new position in Everest Re Group during the 2nd quarter valued at approximately $12,284,000. Raymond James Financial Services Advisors Inc. increased its stake in Everest Re Group by 134.0% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 2,003 shares of the insurance provider’s stock valued at $510,000 after purchasing an additional 1,147 shares in the last quarter. Finally, Bank of Nova Scotia acquired a new position in Everest Re Group during the 2nd quarter valued at approximately $270,000. Institutional investors and hedge funds own 94.06% of the company’s stock.

Shares of Everest Re Group (NYSE:RE) traded down $1.30 on Tuesday, hitting $238.18. 388,632 shares of the stock traded hands, compared to its average volume of 414,779. Everest Re Group has a 52-week low of $208.81 and a 52-week high of $277.17. The stock has a market cap of $9,780.00, a PE ratio of 20.99, a PEG ratio of 1.12 and a beta of 0.59. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.31 and a quick ratio of 0.33.

Everest Re Group (NYSE:RE) last announced its quarterly earnings results on Monday, February 5th. The insurance provider reported $13.48 earnings per share for the quarter, topping the consensus estimate of $6.04 by $7.44. Everest Re Group had a net margin of 7.10% and a return on equity of 4.51%. The firm had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter in the prior year, the company earned $9.08 EPS. The company’s revenue was up 15.7% compared to the same quarter last year. equities analysts expect that Everest Re Group will post 21.45 earnings per share for the current fiscal year.

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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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