Shares of Everest Re Group Ltd. (NYSE:RE) gapped up prior to trading on Wednesday . The stock had previously closed at $178.95, but opened at $179.12. Everest Re Group shares last traded at $180.20, with a volume of 107,883 shares trading hands.

RE has been the subject of a number of analyst reports. Zacks Investment Research upgraded Everest Re Group from a “sell” rating to a “hold” rating in a research note on Tuesday, June 28th. Deutsche Bank AG lifted their price target on Everest Re Group from $211.00 to $219.00 and gave the company a “buy” rating in a research note on Thursday, May 12th. Finally, Morgan Stanley reiterated a “hold” rating on shares of Everest Re Group in a research note on Wednesday, April 27th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $201.17.

The firm has a market cap of $7.60 billion and a PE ratio of 9.51. The firm has a 50-day moving average price of $177.71 and a 200 day moving average price of $183.93.

Everest Re Group (NYSE:RE) last announced its quarterly earnings results on Monday, April 25th. The company reported $5.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $5.57 by $0.38. During the same quarter in the previous year, the business earned $7.34 earnings per share. The company had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Analysts forecast that Everest Re Group Ltd. will post $16.03 earnings per share for the current fiscal year.

Other hedge funds have recently made changes to their positions in the company. Strategic Global Advisors LLC increased its stake in shares of Everest Re Group by 1.9% in the fourth quarter. Strategic Global Advisors LLC now owns 8,618 shares of the company’s stock worth $1,578,000 after buying an additional 162 shares during the period. Mitsubishi UFJ Kokusai Asset Management CO. LTD. increased its stake in shares of Everest Re Group by 5.1% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 5,466 shares of the company’s stock worth $1,001,000 after buying an additional 266 shares during the period. ProShare Advisors LLC increased its stake in shares of Everest Re Group by 5.4% in the fourth quarter. ProShare Advisors LLC now owns 11,055 shares of the company’s stock worth $2,024,000 after buying an additional 563 shares during the period. GSA Capital Partners LLP increased its stake in shares of Everest Re Group by 85.8% in the fourth quarter. GSA Capital Partners LLP now owns 6,870 shares of the company’s stock worth $1,258,000 after buying an additional 3,172 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in shares of Everest Re Group by 61.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 8,482 shares of the company’s stock worth $1,553,000 after buying an additional 3,240 shares during the period.

Everest Re Group, Ltd. (Group), through its subsidiaries, is engaged in the underwriting of reinsurance and insurance in the United States, Bermuda and international markets. The Company underwrites reinsurance both through brokers and directly with ceding companies. The Company underwrites insurance principally through general agent relationships, brokers and surplus lines brokers.

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