Keefe, Bruyette & Woods Reiterates Hold Rating for Everest Re Group (RE)

Everest Re Group (NYSE:RE)‘s stock had its “hold” rating restated by equities researchers at Keefe, Bruyette & Woods in a research note issued to investors on Wednesday. They presently have a $234.00 price objective on the insurance provider’s stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 11.24% from the stock’s current price.

Other equities research analysts also recently issued research reports about the stock. ValuEngine downgraded shares of Everest Re Group from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 7th. Zacks Investment Research upgraded shares of Everest Re Group from a “sell” rating to a “hold” rating in a research note on Friday, November 10th. Wells Fargo & Company set a $240.00 target price on shares of Everest Re Group and gave the company a “hold” rating in a research note on Monday, October 30th. UBS reduced their target price 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. Finally, Buckingham Research began coverage on Everest Re Group in a report on Monday, September 11th. They issued a “neutral” rating and a $255.00 price target for the company. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $250.56.

Shares of Everest Re Group (NYSE:RE) opened at $210.36 on Wednesday. Everest Re Group has a 52 week low of $209.22 and a 52 week high of $277.17. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.08. The company has a market cap of $8,712.93, a price-to-earnings ratio of 50.51, a PEG ratio of 12.39 and a beta of 0.61.

Everest Re Group (NYSE:RE) last issued its earnings results on Monday, October 30th. The insurance provider reported ($16.43) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.68 by ($20.11). Everest Re Group had a net margin of 4.27% and a return on equity of 2.22%. The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.62 billion. During the same quarter in the prior year, the firm posted $6.53 EPS. The firm’s revenue for the quarter was up 16.6% on a year-over-year basis. sell-side analysts expect that Everest Re Group will post 1.71 earnings per share for the current fiscal year.

In other Everest Re Group news, Director William F. Galtney, Jr. purchased 6,000 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The stock was acquired at an average cost of $225.29 per share, with a total value of $1,351,740.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.30% of the company’s stock.

Large investors have recently made changes to their positions in the business. Toronto Dominion Bank raised its holdings in Everest Re Group by 12.0% during the 3rd quarter. Toronto Dominion Bank now owns 15,579 shares of the insurance provider’s stock worth $3,558,000 after purchasing an additional 1,667 shares during the last quarter. Capital Fund Management S.A. bought a new stake in Everest Re Group during the 2nd quarter worth about $7,256,000. Stifel Financial Corp raised 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 purchasing 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 about $1,451,000. Finally, Swiss National Bank raised 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 purchasing an additional 4,200 shares during the last quarter. 93.68% of the stock is owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Everest Re Group (NYSE:RE)

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