Everest Re Group (RE) Raised to Hold at ValuEngine

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Everest Re Group (NYSE:RE) was upgraded by equities researchers at ValuEngine from a “sell” rating to a “hold” rating in a report issued on Wednesday.

Several other equities analysts also recently weighed in on RE. Zacks Investment Research upgraded Everest Re Group from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 2nd. Wells Fargo & Co reiterated a “hold” rating and set a $240.00 target price on shares of Everest Re Group in a research report on Thursday, July 19th. Credit Suisse Group began coverage on Everest Re Group in a research report on Tuesday, August 7th. They set a “neutral” rating and a $239.00 target price on the stock. Citigroup lowered their target price on Everest Re Group from $237.00 to $232.00 and set a “hold” rating on the stock in a research report on Monday, October 22nd. 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. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. Everest Re Group has an average rating of “Hold” and an average target price of $251.89.

RE stock opened at $219.49 on Wednesday. The firm has a market capitalization of $8.38 billion, a PE ratio of 24.12, a PEG ratio of 1.20 and a beta of 0.42. 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 has a 1 year low of $203.90 and a 1 year high of $264.88.

Everest Re Group (NYSE:RE) last released its earnings results on Monday, October 29th. The insurance provider reported $4.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.07 by $1.02. The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.80 billion. Everest Re Group had a return on equity of 1.80% and a net margin of 2.93%. During the same period in the previous year, the business earned ($16.43) earnings per share. On average, equities research analysts expect that Everest Re Group will post 17.06 earnings per share for the current fiscal year.

In other Everest Re Group news, CEO John P. Doucette sold 900 shares of the firm’s stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $215.32, for a total transaction of $193,788.00. Following the sale, the chief executive officer now directly owns 22,620 shares of the company’s stock, valued at $4,870,538.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.30% of the stock is owned by company insiders.

A number of large investors have recently bought and sold shares of RE. Piedmont Investment Advisors LLC bought a new stake in Everest Re Group during the second quarter valued at about $109,000. Truvestments Capital LLC bought a new stake in Everest Re Group during the third quarter valued at about $109,000. Acadian Asset Management LLC raised its holdings in Everest Re Group by 299.3% during the second quarter. Acadian Asset Management LLC now owns 575 shares of the insurance provider’s stock valued at $132,000 after acquiring an additional 431 shares during the period. Daiwa SB Investments Ltd. raised its holdings in Everest Re Group by 38.7% during the second quarter. Daiwa SB Investments Ltd. now owns 860 shares of the insurance provider’s stock valued at $198,000 after acquiring an additional 240 shares during the period. Finally, Rehmann Capital Advisory Group bought a new stake in Everest Re Group during the second quarter valued at about $207,000. 92.73% of the stock is currently owned by institutional investors and hedge funds.

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.

See Also: Fundamental Analysis

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Everest Re Group (NYSE:RE)

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