Everest Re Group, Ltd. (NYSE:RE) has been assigned a $240.00 target price by analysts at Wells Fargo & Company in a report issued on Monday, October 30th. The brokerage currently has a “hold” rating on the insurance provider’s stock. Wells Fargo & Company’s target price points to a potential upside of 6.13% from the company’s previous close.
Several other analysts have also recently commented on RE. UBS AG decreased their price target on shares of Everest Re Group from $240.00 to $230.00 and set a “neutral” rating on the stock in a research note on Monday, October 2nd. Barclays PLC increased their price objective on shares of Everest Re Group from $299.00 to $305.00 and gave the company an “overweight” rating in a report on Friday, August 11th. Zacks Investment Research lowered shares of Everest Re Group from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. BidaskClub lowered shares of Everest Re Group from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Finally, Keefe, Bruyette & Woods restated a “sell” rating and set a $230.00 price objective on shares of Everest Re Group in a report on Friday, October 13th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $243.20.
Shares of Everest Re Group (NYSE RE) traded down $2.42 on Monday, hitting $226.13. 425,400 shares of the stock were exchanged, compared to its average volume of 396,488. The firm has a market capitalization of $9,386.48, a price-to-earnings ratio of 54.42, a P/E/G ratio of 13.19 and a beta of 0.65. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.33 and a quick ratio of 0.33. Everest Re Group has a 1-year low of $206.60 and a 1-year high of $277.17.
Everest Re Group (NYSE:RE) last posted its earnings results on Monday, October 30th. The insurance provider reported ($16.43) earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.68 by ($20.11). The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.62 billion. Everest Re Group had a net margin of 4.27% and a return on equity of 2.22%. The business’s revenue was up 16.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $6.53 EPS. equities research analysts predict that Everest Re Group will post 1.73 earnings per share for the current year.
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Several hedge funds and other institutional investors have recently bought and sold shares of RE. Capital Fund Management S.A. acquired a new stake in Everest Re Group in the 2nd quarter worth about $7,256,000. Stifel Financial Corp grew its holdings in Everest Re Group by 32.1% during the 2nd quarter. Stifel Financial Corp now owns 10,755 shares of the insurance provider’s stock worth $2,740,000 after acquiring an additional 2,611 shares during the last quarter. OMERS ADMINISTRATION Corp bought a new stake in Everest Re Group during the 2nd quarter worth approximately $1,451,000. Swiss National Bank grew its holdings in Everest Re Group by 2.9% during the 2nd quarter. Swiss National Bank now owns 148,975 shares of the insurance provider’s stock worth $37,928,000 after acquiring an additional 4,200 shares during the last quarter. Finally, Aberdeen Asset Management PLC UK grew its holdings in Everest Re Group by 144.2% during the 2nd quarter. Aberdeen Asset Management PLC UK now owns 101,717 shares of the insurance provider’s stock worth $25,897,000 after acquiring an additional 60,058 shares during the last quarter. Institutional investors own 92.16% 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.
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