Everest Re Group, Ltd. (RE) Given Average Rating of “Hold” by Analysts
Everest Re Group, Ltd. (NYSE:RE) has been given an average rating of “Hold” by the twelve ratings firms that are currently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $240.25.
Several analysts have issued reports on the stock. Keefe, Bruyette & Woods reaffirmed a “sell” rating and issued a $230.00 price objective on shares of Everest Re Group in a research report on Friday. Zacks Investment Research downgraded shares of Everest Re Group from a “hold” rating to a “sell” rating in a research report on Friday. ValuEngine cut Everest Re Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 5th. UBS AG reduced their target price on Everest Re Group from $240.00 to $230.00 and set a “neutral” rating for the company in a research note on Monday, October 2nd. Finally, Buckingham Research started coverage on Everest Re Group in a research note on Monday, September 11th. They set a “neutral” rating and a $255.00 target price for the company.
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Several institutional investors and hedge funds have recently modified their holdings of the company. Huntington National Bank increased its holdings in shares of Everest Re Group by 1.5% during the second quarter. Huntington National Bank now owns 921 shares of the insurance provider’s stock valued at $235,000 after purchasing an additional 14 shares during the period. Torray LLC increased its holdings in shares of Everest Re Group by 0.8% during the second quarter. Torray LLC now owns 1,831 shares of the insurance provider’s stock valued at $466,000 after purchasing an additional 15 shares during the period. Wetherby Asset Management Inc. increased its holdings in shares of Everest Re Group by 2.0% during the second quarter. Wetherby Asset Management Inc. now owns 1,295 shares of the insurance provider’s stock valued at $330,000 after purchasing an additional 25 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of Everest Re Group by 0.4% during the first quarter. PNC Financial Services Group Inc. now owns 7,634 shares of the insurance provider’s stock valued at $1,784,000 after purchasing an additional 28 shares during the period. Finally, First Merchants Corp increased its holdings in shares of Everest Re Group by 0.4% during the second quarter. First Merchants Corp now owns 8,137 shares of the insurance provider’s stock valued at $2,072,000 after purchasing an additional 35 shares during the period. 92.25% of the stock is currently owned by institutional investors.
Everest Re Group (RE) opened at 240.51 on Wednesday. The stock has a market cap of $9.88 billion, a P/E ratio of 8.25 and a beta of 0.62. Everest Re Group has a 52 week low of $191.11 and a 52 week high of $277.17. The company has a 50-day moving average of $230.49 and a 200-day moving average of $247.66.
Everest Re Group (NYSE:RE) last issued its quarterly earnings data on Monday, July 24th. The insurance provider reported $5.51 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $5.24 by $0.27. Everest Re Group had a net margin of 19.65% and a return on equity of 13.60%. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter last year, the company earned $3.17 earnings per share. On average, analysts predict that Everest Re Group will post ($2.77) EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 20th. Stockholders of record on Wednesday, September 6th were issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date was Friday, September 1st. Everest Re Group’s dividend payout ratio (DPR) is 17.15%.
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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