Everest Re Group Ltd (RE) Forecasted to Earn Q4 2018 Earnings of $6.43 Per Share
Everest Re Group Ltd (NYSE:RE) – Langen Mcalenn increased their Q4 2018 earnings per share estimates for Everest Re Group in a report released on Monday. Langen Mcalenn analyst L. Greenberg now anticipates that the insurance provider will post earnings per share of $6.43 for the quarter, up from their prior estimate of $6.04. Langen Mcalenn also issued estimates for Everest Re Group’s Q1 2019 earnings at $6.19 EPS, Q2 2019 earnings at $5.86 EPS and FY2019 earnings at $23.50 EPS.
RE has been the subject of several other reports. Zacks Investment Research upgraded shares of Everest Re Group from a “hold” rating to a “strong-buy” rating and set a $253.00 price objective for the company in a research report on Friday, January 5th. Keefe, Bruyette & Woods restated a “sell” rating and set a $230.00 price objective on shares of Everest Re Group in a research report on Friday, October 13th. Wells Fargo & Co restated a “market perform” rating and set a $235.00 price objective (down from $240.00) on shares of Everest Re Group in a research report on Tuesday, January 9th. Barclays cut their price objective 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, UBS Group raised their price objective on shares of Everest Re Group from $230.00 to $245.00 and gave the stock a “neutral” rating in a research report on Monday, November 6th. Eight equities research analysts have rated the stock with 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 a consensus price target of $252.88.
Everest Re Group (NYSE:RE) last issued its quarterly earnings data on Monday, February 5th. The insurance provider reported $13.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $6.04 by $7.44. The firm had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.52 billion. Everest Re Group had a net margin of 7.10% and a return on equity of 4.51%. The business’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same period last year, the business posted $9.08 earnings per share.
Institutional investors and hedge funds have recently made changes to their positions in the company. Toronto Dominion Bank increased its stake in Everest Re Group by 12.0% in the third quarter. Toronto Dominion Bank now owns 15,579 shares of the insurance provider’s stock valued at $3,558,000 after acquiring an additional 1,667 shares during the last quarter. AXA increased its stake in Everest Re Group by 165.0% in the third quarter. AXA now owns 119,964 shares of the insurance provider’s stock valued at $27,399,000 after acquiring an additional 74,700 shares during the last quarter. Stifel Financial Corp increased its stake in Everest Re Group by 32.1% in the second quarter. Stifel Financial Corp now owns 10,755 shares of the insurance provider’s stock valued at $2,740,000 after acquiring an additional 2,611 shares during the last quarter. Magnetar Financial LLC increased its stake in Everest Re Group by 15.7% in the third quarter. Magnetar Financial LLC now owns 10,539 shares of the insurance provider’s stock valued at $2,407,000 after acquiring an additional 1,430 shares during the last quarter. Finally, APG Asset Management N.V. increased its stake in Everest Re Group by 43.6% in the third quarter. APG Asset Management N.V. now owns 1,032,662 shares of the insurance provider’s stock valued at $235,850,000 after acquiring an additional 313,700 shares during the last quarter. 90.08% of the stock is currently owned by institutional investors.
In other Everest Re Group news, Director William F. Galtney, Jr. bought 6,000 shares of the stock in a transaction dated Monday, November 20th. The shares were bought at an average cost of $225.29 per share, with a total value of $1,351,740.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John A. Graf bought 2,285 shares of the stock in a transaction dated Monday, January 8th. The shares were acquired at an average cost of $219.07 per share, for a total transaction of $500,574.95. Following the completion of the acquisition, the director now directly owns 5,550 shares of the company’s stock, valued at approximately $1,215,838.50. The disclosure for this purchase can be found here. Insiders have bought 8,323 shares of company stock worth $1,860,654 over the last ninety days. Insiders own 1.30% 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.
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