Everest Re Group (NYSE:RE) was upgraded by analysts at TheStreet from a “c+” rating to a “b” rating in a research note issued to investors on Monday, October 29th.
Several other analysts have also recently weighed in on the company. Morgan Stanley lowered their price target on Everest Re Group from $258.00 to $243.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 14th. Wells Fargo & Co reaffirmed a “hold” rating and issued a $235.00 price target on shares of Everest Re Group in a report on Thursday, October 18th. Citigroup began coverage on Everest Re Group in a report on Wednesday, October 10th. They issued a “neutral” rating and a $237.00 price target on the stock. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $240.00 price objective on shares of Everest Re Group in a research report on Wednesday, August 1st. Finally, Zacks Investment Research upgraded Everest Re Group from a “hold” rating to a “buy” rating and set a $263.00 price objective on the stock in a research report on Tuesday, July 17th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. Everest Re Group currently has a consensus rating of “Hold” and an average target price of $254.11.
RE traded down $1.00 during trading on Monday, reaching $214.50. 348,123 shares of the company were exchanged, compared to its average volume of 287,026. The stock has a market capitalization of $8.76 billion, a price-to-earnings ratio of 23.57, a price-to-earnings-growth ratio of 1.34 and a beta of 0.43. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.37 and a current ratio of 0.37. Everest Re Group has a 12-month low of $203.90 and a 12-month high of $264.88.
Everest Re Group (NYSE:RE) last issued its quarterly earnings data on Monday, October 29th. The insurance provider reported $4.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.07 by $1.02. The business had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.80 billion. Everest Re Group had a return on equity of 11.82% and a net margin of 14.19%. During the same quarter in the prior year, the firm posted ($16.43) EPS. On average, research analysts forecast that Everest Re Group will post 16.1 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently bought and sold shares of RE. State Treasurer State of Michigan grew its position in Everest Re Group by 6,612.4% during the 3rd quarter. State Treasurer State of Michigan now owns 812,200 shares of the insurance provider’s stock worth $185,563,000 after acquiring an additional 800,100 shares during the last quarter. JPMorgan Chase & Co. grew its position in Everest Re Group by 326.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 828,753 shares of the insurance provider’s stock worth $189,345,000 after acquiring an additional 634,401 shares during the last quarter. Royal London Asset Management Ltd. grew its position in shares of Everest Re Group by 2,284.9% in the 3rd quarter. Royal London Asset Management Ltd. now owns 406,108 shares of the insurance provider’s stock worth $11,935,000 after buying an additional 389,080 shares during the last quarter. Vulcan Value Partners LLC grew its position in shares of Everest Re Group by 24.8% in the 2nd quarter. Vulcan Value Partners LLC now owns 1,830,722 shares of the insurance provider’s stock worth $421,945,000 after buying an additional 363,518 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in shares of Everest Re Group by 104.3% in the 3rd quarter. Franklin Resources Inc. now owns 517,960 shares of the insurance provider’s stock worth $118,339,000 after buying an additional 264,400 shares during the last quarter. Institutional investors and hedge funds own 98.26% of the company’s stock.
About Everest Re Group
Everest Re Group, Ltd., through its subsidiaries, provides reinsurance and insurance products. The company operates through the U.S. Reinsurance, International, Bermuda, and Insurance segments. The U.S. Reinsurance segment writes property and casualty reinsurance; and specialty lines of business, including marine, aviation, surety, and accident and health insurance through reinsurance brokers, as well as directly with ceding companies in the Unites States.
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