Everest Re Group (RE) Rating Increased to B at TheStreet

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Everest Re Group (NYSE:RE) was upgraded by TheStreet from a “c+” rating to a “b” rating in a report issued on Monday.

Other analysts have also issued research reports about the company. Wells Fargo & Co reaffirmed a “hold” rating and set a $240.00 price objective on shares of Everest Re Group in a research report on Thursday, July 19th. ValuEngine lowered Everest Re Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 24th. Zacks Investment Research lowered Everest Re Group from a “buy” rating to a “hold” rating in a report on Monday, July 9th. Credit Suisse Group began coverage on Everest Re Group in a report on Tuesday, August 7th. They issued a “neutral” rating and a $239.00 target price on the stock. Finally, Citigroup dropped their target price on Everest Re Group from $237.00 to $232.00 and set a “hold” rating on the stock in a report on Monday, October 22nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $251.89.

Everest Re Group stock opened at $219.49 on Monday. Everest Re Group has a twelve month low of $203.90 and a twelve month high of $264.88. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.35 and a current ratio of 0.35. The firm has a market cap of $8.38 billion, a PE ratio of 24.12, a P/E/G ratio of 1.21 and a beta of 0.42.

Everest Re Group (NYSE:RE) last posted its quarterly earnings data on Monday, October 29th. The insurance provider reported $4.09 earnings per share for the quarter, topping analysts’ consensus estimates of $3.07 by $1.02. Everest Re Group had a return on equity of 11.83% and a net margin of 14.19%. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the prior year, the company earned ($16.43) earnings per share. Analysts predict that Everest Re Group will post 17.06 EPS for the current year.

In other news, CEO John P. Doucette sold 900 shares of the stock in a transaction dated Monday, August 13th. The shares were sold at an average price of $215.32, for a total transaction of $193,788.00. Following the completion of the sale, the chief executive officer now owns 22,620 shares in the company, valued at $4,870,538.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.30% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in RE. Piedmont Investment Advisors LLC acquired a new stake in Everest Re Group in the second quarter valued at about $109,000. Truvestments Capital LLC acquired a new stake in Everest Re Group in the third quarter valued at about $109,000. Acadian Asset Management LLC lifted its position in Everest Re Group by 299.3% in the second quarter. Acadian Asset Management LLC now owns 575 shares of the insurance provider’s stock valued at $132,000 after purchasing an additional 431 shares during the period. Daiwa SB Investments Ltd. lifted its position in Everest Re Group by 38.7% in the second quarter. Daiwa SB Investments Ltd. now owns 860 shares of the insurance provider’s stock valued at $198,000 after purchasing an additional 240 shares during the period. Finally, Rehmann Capital Advisory Group acquired a new stake in Everest Re Group in the second quarter valued at about $207,000. Institutional investors and hedge funds own 92.73% of the company’s stock.

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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