Everest Re Group (RE) Earns Neutral Rating from Analysts at Credit Suisse Group

Credit Suisse Group assumed coverage on shares of Everest Re Group (NYSE:RE) in a research note issued to investors on Tuesday, August 7th, Marketbeat Ratings reports. The firm issued a neutral rating and a $239.00 target price on the insurance provider’s stock.

RE has been the topic of a number of other reports. ValuEngine upgraded Everest Re Group from a sell rating to a hold rating in a research note on Thursday, August 2nd. Wells Fargo & Co set a $240.00 target price on Everest Re Group and gave the stock a hold rating in a research report on Wednesday, April 11th. Zacks Investment Research cut Everest Re Group from a buy rating to a hold rating in a research report on Monday, July 23rd. Finally, Keefe, Bruyette & Woods reiterated a hold rating and set a $240.00 target price on shares of Everest Re Group in a research report on Wednesday, August 1st. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $255.00.

NYSE:RE traded up $0.60 during midday trading on Tuesday, reaching $223.02. The company had a trading volume of 265,400 shares, compared to its average volume of 311,351. The firm has a market cap of $9.09 billion, a PE ratio of 24.39, a price-to-earnings-growth ratio of 1.28 and a beta of 0.41. Everest Re Group has a 12-month low of $208.81 and a 12-month high of $264.88. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.08.

Everest Re Group (NYSE:RE) last released its earnings results on Monday, July 30th. The insurance provider reported $0.98 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.01 by ($0.03). Everest Re Group had a net margin of 2.93% and a return on equity of 1.80%. The company had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter last year, the business posted $5.51 earnings per share. equities analysts forecast that Everest Re Group will post 17.32 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 19th. Investors of record on Wednesday, September 5th will be given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 2.33%. The ex-dividend date is Tuesday, September 4th. Everest Re Group’s dividend payout ratio (DPR) is presently 57.14%.

In related news, CEO John P. Doucette sold 900 shares of the business’s stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $215.32, for a total value of $193,788.00. Following the transaction, the chief executive officer now owns 22,620 shares in the company, valued at approximately $4,870,538.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.30% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in RE. BlackRock Inc. boosted its stake in shares of Everest Re Group by 0.6% during the 1st quarter. BlackRock Inc. now owns 3,274,550 shares of the insurance provider’s stock worth $840,972,000 after acquiring an additional 18,030 shares in the last quarter. Boston Partners boosted its stake in shares of Everest Re Group by 53.5% during the 1st quarter. Boston Partners now owns 2,672,684 shares of the insurance provider’s stock worth $686,399,000 after acquiring an additional 932,031 shares in the last quarter. LSV Asset Management raised its position in shares of Everest Re Group by 0.4% during the 2nd quarter. LSV Asset Management now owns 1,855,805 shares of the insurance provider’s stock worth $427,725,000 after purchasing an additional 7,072 shares during the last quarter. Vulcan Value Partners LLC raised its position in shares of Everest Re Group by 24.8% during the 2nd quarter. Vulcan Value Partners LLC now owns 1,830,722 shares of the insurance provider’s stock worth $421,945,000 after purchasing an additional 363,518 shares during the last quarter. Finally, Champlain Investment Partners LLC raised its position in shares of Everest Re Group by 23.0% during the 1st quarter. Champlain Investment Partners LLC now owns 444,645 shares of the insurance provider’s stock worth $114,194,000 after purchasing an additional 83,140 shares during the last quarter. 92.91% of the stock is currently owned by institutional investors.

Everest Re Group Company Profile

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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Analyst Recommendations for Everest Re Group (NYSE:RE)

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