Everest Re Group, Ltd. (NYSE:RE) Given Average Rating of “Buy” by Analysts

Everest Re Group, Ltd. (NYSE:REGet Rating) has received a consensus recommendation of “Buy” from the eight brokerages that are presently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $317.50.

RE has been the topic of a number of analyst reports. Zacks Investment Research lowered shares of Everest Re Group from a “buy” rating to a “hold” rating and set a $300.00 price objective on the stock. in a research report on Thursday, March 17th. StockNews.com raised Everest Re Group from a “hold” rating to a “buy” rating in a report on Saturday, May 21st. Wells Fargo & Company boosted their target price on shares of Everest Re Group from $310.00 to $330.00 in a research report on Friday, February 11th. Finally, Morgan Stanley boosted their target price on shares of Everest Re Group from $331.00 to $340.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 15th.

NYSE:RE opened at $288.21 on Wednesday. The firm’s fifty day moving average price is $285.96 and its 200 day moving average price is $282.92. Everest Re Group has a 1-year low of $234.87 and a 1-year high of $308.20. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.33 and a quick ratio of 0.33. The firm has a market cap of $11.37 billion, a price-to-earnings ratio of 8.59, a price-to-earnings-growth ratio of 0.84 and a beta of 0.64.

Everest Re Group (NYSE:REGet Rating) last posted its quarterly earnings data on Wednesday, April 27th. The insurance provider reported $10.31 earnings per share for the quarter, beating analysts’ consensus estimates of $8.32 by $1.99. Everest Re Group had a net margin of 11.11% and a return on equity of 12.97%. The firm had revenue of $3.05 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same period last year, the firm posted $6.49 EPS. As a group, analysts expect that Everest Re Group will post 34.27 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 17th. Investors of record on Wednesday, May 25th will be given a $1.65 dividend. The ex-dividend date is Tuesday, May 24th. This is a positive change from Everest Re Group’s previous quarterly dividend of $1.55. This represents a $6.60 annualized dividend and a dividend yield of 2.29%. Everest Re Group’s payout ratio is currently 19.66%.

In other Everest Re Group news, VP Sanjoy Mukherjee sold 400 shares of the company’s stock in a transaction dated Thursday, March 24th. The shares were sold at an average price of $295.00, for a total value of $118,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.40% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in RE. CIBC Asset Management Inc increased its stake in shares of Everest Re Group by 1.0% during the 1st quarter. CIBC Asset Management Inc now owns 3,733 shares of the insurance provider’s stock valued at $1,125,000 after acquiring an additional 36 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Everest Re Group by 18.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 236 shares of the insurance provider’s stock worth $64,000 after purchasing an additional 37 shares in the last quarter. Vestmark Advisory Solutions Inc. increased its position in Everest Re Group by 2.3% during the 4th quarter. Vestmark Advisory Solutions Inc. now owns 2,149 shares of the insurance provider’s stock worth $589,000 after purchasing an additional 49 shares in the last quarter. Ancora Advisors LLC increased its position in Everest Re Group by 6.9% during the 1st quarter. Ancora Advisors LLC now owns 775 shares of the insurance provider’s stock worth $192,000 after purchasing an additional 50 shares in the last quarter. Finally, State of Michigan Retirement System increased its position in Everest Re Group by 0.5% during the 1st quarter. State of Michigan Retirement System now owns 11,211 shares of the insurance provider’s stock worth $3,379,000 after purchasing an additional 52 shares in the last quarter. Institutional investors own 75.12% of the company’s stock.

Everest Re Group Company Profile (Get Rating)

Everest Re Group, Ltd., through its subsidiaries, provides reinsurance and insurance products in the United States, Bermuda, and internationally. The company operates through Reinsurance Operations and Insurance Operations segments. The Reinsurance Operations segment writes property and casualty reinsurance; and specialty lines of business through reinsurance brokers, as well as directly with ceding companies in the United States, Bermuda, Ireland, Canada, Singapore, Switzerland, and the United Kingdom.

See Also

Want More Great Investing Ideas?

Receive News & Ratings for Everest Re Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Everest Re Group and related companies with MarketBeat.com's FREE daily email newsletter.