Everest Re Group, Ltd. (NYSE:RE) announced a quarterly dividend on Wednesday, August 23rd, RTT News reports. Shareholders of record on Wednesday, September 6th will be paid a dividend of 1.25 per share by the insurance provider on Wednesday, September 20th. This represents a $5.00 annualized dividend and a yield of 1.92%. The ex-dividend date is Friday, September 1st.

Everest Re Group has raised its dividend by an average of 29.0% per year over the last three years and has raised its dividend annually for the last 4 consecutive years. Everest Re Group has a payout ratio of 23.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Everest Re Group to earn $20.25 per share next year, which means the company should continue to be able to cover its $5.00 annual dividend with an expected future payout ratio of 24.7%.

Shares of Everest Re Group (NYSE RE) opened at 260.24 on Friday. The firm’s 50-day moving average price is $264.80 and its 200 day moving average price is $248.29. Everest Re Group has a one year low of $183.04 and a one year high of $277.17. The company has a market capitalization of $10.69 billion, a PE ratio of 8.93 and a beta of 0.63.

Everest Re Group (NYSE:RE) last announced its earnings results on Monday, July 24th. The insurance provider reported $5.51 EPS for the quarter, topping the Zacks’ consensus estimate of $5.24 by $0.27. Everest Re Group had a return on equity of 13.60% and a net margin of 19.65%. The company had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same period last year, the firm earned $3.17 EPS. Analysts anticipate that Everest Re Group will post $21.33 earnings per share for the current year.

A number of equities analysts recently commented on RE shares. Deutsche Bank AG reaffirmed a “buy” rating and issued a $262.00 target price (up from $240.00) on shares of Everest Re Group in a report on Saturday, April 29th. Zacks Investment Research cut Everest Re Group from a “buy” rating to a “hold” rating in a report on Monday, July 10th. BidaskClub raised Everest Re Group from a “hold” rating to a “buy” rating in a report on Wednesday, July 5th. ValuEngine raised Everest Re Group from a “buy” rating to a “strong-buy” rating in a report on Friday, June 2nd. Finally, Morgan Stanley reissued an “equal weight” rating and set a $259.00 price target (up from $250.00) on shares of Everest Re Group in a report on Thursday, July 6th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Everest Re Group has an average rating of “Hold” and an average target price of $250.25.

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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.

Dividend History for Everest Re Group (NYSE:RE)

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