Everest Re Group, Ltd. (NYSE:RE) had its price objective reduced by equities researchers at Barclays PLC from $305.00 to $280.00 in a report released on Monday. The brokerage currently has an “overweight” rating on the insurance provider’s stock. Barclays PLC’s price objective suggests a potential upside of 18.44% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of Everest Re Group from a “hold” rating to a “buy” rating and set a $295.00 target price on the stock in a research note on Monday, July 17th. BidaskClub raised shares of Everest Re Group from a “hold” rating to a “buy” rating in a research note on Wednesday, July 5th. ValuEngine cut shares of Everest Re Group from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 7th. Morgan Stanley reaffirmed an “equal weight” rating and set a $259.00 target price (up previously from $250.00) on shares of Everest Re Group in a research note on Thursday, July 6th. Finally, Wells Fargo & Company reaffirmed a “hold” rating on shares of Everest Re Group in a research note on Monday, July 24th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $243.44.

Everest Re Group (NYSE:RE) opened at 236.40 on Monday. Everest Re Group has a 12-month low of $191.11 and a 12-month high of $277.17. The firm’s 50-day moving average price is $230.49 and its 200 day moving average price is $247.66. The firm has a market cap of $9.71 billion, a P/E ratio of 8.11 and a beta of 0.62.

Everest Re Group (NYSE:RE) last announced its quarterly earnings data on Monday, July 24th. The insurance provider reported $5.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.24 by $0.27. The business 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 period last year, the firm posted $3.17 earnings per share. Analysts forecast that Everest Re Group will post $1.54 earnings per share for the current fiscal year.

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Several large investors have recently modified their holdings of RE. Vanguard Group Inc. lifted its holdings in shares of Everest Re Group by 23.1% during the second quarter. Vanguard Group Inc. now owns 3,756,913 shares of the insurance provider’s stock worth $956,473,000 after purchasing an additional 704,287 shares during the period. State Street Corp lifted its holdings in shares of Everest Re Group by 26.4% during the second quarter. State Street Corp now owns 2,157,326 shares of the insurance provider’s stock worth $549,219,000 after purchasing an additional 450,606 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of Everest Re Group by 7,587.2% during the second quarter. Janus Henderson Group PLC now owns 344,770 shares of the insurance provider’s stock worth $87,775,000 after purchasing an additional 340,285 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Everest Re Group by 28.9% during the first quarter. AQR Capital Management LLC now owns 1,289,792 shares of the insurance provider’s stock worth $301,566,000 after purchasing an additional 289,351 shares during the period. Finally, American Century Companies Inc. lifted its holdings in shares of Everest Re Group by 190.2% during the second quarter. American Century Companies Inc. now owns 281,630 shares of the insurance provider’s stock worth $71,700,000 after purchasing an additional 184,576 shares during the period. Institutional investors own 92.25% of the company’s stock.

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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