Everest Re Group Ltd (RE) Receives Consensus Rating of “Hold” from Brokerages

Shares of Everest Re Group Ltd (NYSE:RE) have been assigned an average recommendation of “Hold” from the ten research firms that are covering the firm, MarketBeat reports. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $253.86.

RE has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Everest Re Group from a “hold” rating to a “buy” rating and set a $263.00 price objective for the company in a report on Tuesday, July 17th. Wells Fargo & Co restated a “hold” rating and issued a $240.00 price objective on shares of Everest Re Group in a report on Thursday, July 19th. Goldman Sachs Group initiated coverage on shares of Everest Re Group in a report on Monday, June 18th. They issued a “buy” rating and a $280.00 price objective for the company. ValuEngine lowered shares of Everest Re Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 24th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $240.00 price objective on shares of Everest Re Group in a report on Wednesday, August 1st.

In other Everest Re Group news, CEO John P. Doucette sold 900 shares of Everest Re Group stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $215.32, for a total value of $193,788.00. Following the completion of the sale, the chief executive officer now owns 22,620 shares of the company’s stock, valued at approximately $4,870,538.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.30% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. BlackRock Inc. grew its position in shares of Everest Re Group by 0.6% during the 1st quarter. BlackRock Inc. now owns 3,274,550 shares of the insurance provider’s stock valued at $840,972,000 after acquiring an additional 18,030 shares during the period. LSV Asset Management grew its position in shares of Everest Re Group by 0.4% during the 2nd quarter. LSV Asset Management now owns 1,855,805 shares of the insurance provider’s stock valued at $427,725,000 after acquiring an additional 7,072 shares during the period. Vulcan Value Partners LLC grew its position in shares of Everest Re Group by 24.8% during the 2nd quarter. Vulcan Value Partners LLC now owns 1,830,722 shares of the insurance provider’s stock valued at $421,945,000 after acquiring an additional 363,518 shares during the period. Champlain Investment Partners LLC grew its position in shares of Everest Re Group by 23.0% during the 1st quarter. Champlain Investment Partners LLC now owns 444,645 shares of the insurance provider’s stock valued at $114,194,000 after acquiring an additional 83,140 shares during the period. Finally, Donald Smith & CO. Inc. grew its position in shares of Everest Re Group by 2.6% during the 2nd quarter. Donald Smith & CO. Inc. now owns 384,708 shares of the insurance provider’s stock valued at $88,667,000 after acquiring an additional 9,673 shares during the period. 92.90% of the stock is owned by institutional investors and hedge funds.

Shares of RE stock traded up $1.00 during trading hours on Thursday, hitting $228.79. 2,929 shares of the company’s stock traded hands, compared to its average volume of 320,034. Everest Re Group has a 12-month low of $206.68 and a 12-month high of $264.88. The firm has a market capitalization of $9.36 billion, a price-to-earnings ratio of 25.13, a PEG ratio of 1.32 and a beta of 0.44. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.35 and a current ratio of 0.35.

Everest Re Group (NYSE:RE) last released its earnings results on Monday, July 30th. The insurance provider reported $0.98 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.01 by ($0.03). Everest Re Group had a net margin of 2.93% and a return on equity of 1.80%. The business had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter in the previous year, the business posted $5.51 earnings per share. sell-side analysts forecast that Everest Re Group will post 17.32 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 19th. Shareholders of record on Wednesday, September 5th were given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date was Tuesday, September 4th. Everest Re Group’s dividend payout ratio (DPR) is presently 57.14%.

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.

Further Reading: What is a Leveraged Buyout (LBO)?

Analyst Recommendations for Everest Re Group (NYSE:RE)

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