Everest Re Group Ltd (RE) Receives $245.43 Consensus PT from Brokerages

Everest Re Group Ltd (NYSE:RE) has earned an average recommendation of “Hold” from the ten research firms that are covering the company, MarketBeat.com reports. Seven research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $245.43.

RE has been the subject of several analyst reports. Zacks Investment Research lowered Everest Re Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 2nd. Wells Fargo & Co reiterated a “hold” rating and set a $235.00 price target on shares of Everest Re Group in a report on Thursday, January 24th. Finally, Morgan Stanley decreased their price target on Everest Re Group from $243.00 to $232.00 and set an “equal weight” rating for the company in a report on Thursday, January 3rd.

Shares of NYSE:RE opened at $214.99 on Thursday. The firm has a market cap of $8.74 billion, a P/E ratio of 46.23, a P/E/G ratio of 0.93 and a beta of 0.33. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.35 and a quick ratio of 0.35. Everest Re Group has a 12-month low of $201.09 and a 12-month high of $261.89.

Everest Re Group (NYSE:RE) last announced its earnings results on Monday, February 11th. The insurance provider reported ($5.89) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $6.04 by ($11.93). The company had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $2.03 billion. Everest Re Group had a return on equity of 2.33% and a net margin of 1.40%. Analysts expect that Everest Re Group will post 23.19 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were issued a dividend of $1.40 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $5.60 dividend on an annualized basis and a yield of 2.60%. Everest Re Group’s payout ratio is currently 120.43%.

In other Everest Re Group news, Director Roger M. Singer sold 900 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $223.69, for a total transaction of $201,321.00. Following the completion of the sale, the director now directly owns 13,432 shares in the company, valued at approximately $3,004,604.08. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.30% of the company’s stock.

Several institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. grew its position in shares of Everest Re Group by 326.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 828,753 shares of the insurance provider’s stock valued at $189,345,000 after purchasing an additional 634,401 shares in the last quarter. Norges Bank purchased a new position in shares of Everest Re Group during the 4th quarter valued at $89,859,000. Franklin Resources Inc. grew its position in shares of Everest Re Group by 104.3% during the 3rd quarter. Franklin Resources Inc. now owns 517,960 shares of the insurance provider’s stock valued at $118,339,000 after purchasing an additional 264,400 shares in the last quarter. BlackRock Inc. grew its position in shares of Everest Re Group by 4.6% during the 4th quarter. BlackRock Inc. now owns 3,382,386 shares of the insurance provider’s stock valued at $736,548,000 after purchasing an additional 149,017 shares in the last quarter. Finally, Bank of Montreal Can grew its position in shares of Everest Re Group by 116.6% during the 4th quarter. Bank of Montreal Can now owns 274,496 shares of the insurance provider’s stock valued at $59,773,000 after purchasing an additional 147,767 shares in the last quarter. 92.19% of the stock is currently owned by hedge funds and other institutional investors.

About Everest Re Group

Everest Re Group, Ltd., through its subsidiaries, provides reinsurance and insurance products in the United States, Bermuda, and internationally. The company operates through four segments: U.S. Reinsurance, International, Bermuda, and Insurance. 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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