Everest Re Group, Ltd. (RE) Trading Down 6.9%
Everest Re Group, Ltd. (NYSE:RE)’s share price traded down 6.9% during mid-day trading on Tuesday . The company traded as low as $230.06 and last traded at $231.19. 1,013,735 shares were traded during mid-day trading, an increase of 112% from the average session volume of 478,675 shares. The stock had previously closed at $248.38.
A number of equities analysts have issued reports on the stock. BidaskClub raised shares of Everest Re Group from a “hold” rating to a “buy” rating in a research note on Wednesday, July 5th. ValuEngine raised shares of Everest Re Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 2nd. Zacks Investment Research cut shares of Everest Re Group from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. UBS AG reaffirmed a “neutral” rating and issued a $256.00 price objective (up from $251.00) on shares of Everest Re Group in a research report on Tuesday, August 1st. Finally, Barclays PLC lifted their price target 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. Two research analysts have rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $250.25.
The stock has a market capitalization of $9.34 billion, a P/E ratio of 7.80 and a beta of 0.64. The firm has a 50 day moving average of $261.03 and a 200-day moving average of $249.19.
Everest Re Group (NYSE:RE) last announced its quarterly earnings results on Monday, July 24th. The insurance provider reported $5.51 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $5.24 by $0.27. The company had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Everest Re Group had a net margin of 19.65% and a return on equity of 13.60%. During the same quarter in the previous year, the business posted $3.17 EPS. On average, equities analysts anticipate that Everest Re Group, Ltd. will post $20.96 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend is Friday, September 1st. Everest Re Group’s dividend payout ratio is currently 17.15%.
Large investors have recently modified their holdings of the company. Toronto Dominion Bank lifted its stake in shares of Everest Re Group by 23.1% in the 1st quarter. Toronto Dominion Bank now owns 447 shares of the insurance provider’s stock worth $104,000 after purchasing an additional 84 shares during the period. Acrospire Investment Management LLC grew its holdings in Everest Re Group by 66.7% during the 2nd quarter. Acrospire Investment Management LLC now owns 500 shares of the insurance provider’s stock valued at $127,000 after buying an additional 200 shares in the last quarter. IFP Advisors Inc grew its holdings in Everest Re Group by 1.6% during the 1st quarter. IFP Advisors Inc now owns 509 shares of the insurance provider’s stock valued at $119,000 after buying an additional 8 shares in the last quarter. Assetmark Inc. purchased a new stake in Everest Re Group during the 1st quarter valued at approximately $142,000. Finally, Pacer Advisors Inc. purchased a new stake in Everest Re Group during the 2nd quarter valued at approximately $160,000. Hedge funds and other institutional investors own 92.39% of the company’s stock.
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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.