Everest Re Group, Ltd. (NYSE:RE) had its price target cut by equities research analysts at UBS AG from $256.00 to $240.00 in a report released on Tuesday. The firm presently has a “neutral” rating on the insurance provider’s stock. UBS AG’s price target would indicate a potential upside of 6.75% from the company’s previous close.

A number of other analysts have also weighed in on the stock. ValuEngine lowered shares of Everest Re Group from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 7th. Keefe, Bruyette & Woods lowered shares of Everest Re Group from a “market perform” rating to an “underperform” rating and reduced their price objective for the company from $251.00 to $245.00 in a research note on Monday, July 17th. Zacks Investment Research upgraded shares of Everest Re Group from a “hold” rating to a “buy” rating and set a $293.00 price objective for the company in a research note on Friday, July 7th. Buckingham Research started coverage on shares of Everest Re Group in a research note on Monday, September 11th. They set a “neutral” rating and a $255.00 price objective for the company. Finally, Morgan Stanley restated an “equal weight” rating and set a $259.00 price objective (up from $250.00) on shares of Everest Re Group in a research note on Thursday, July 6th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $249.00.

Shares of Everest Re Group (RE) opened at 224.82 on Tuesday. Everest Re Group has a one year low of $183.04 and a one year high of $277.17. The stock has a 50 day moving average of $251.27 and a 200-day moving average of $248.66. The company has a market capitalization of $9.23 billion, a PE ratio of 7.71 and a beta of 0.64.

Everest Re Group (NYSE:RE) last issued its quarterly earnings results on Monday, July 24th. The insurance provider reported $5.51 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $5.24 by $0.27. The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.46 billion. Everest Re Group had a net margin of 19.65% and a return on equity of 13.60%. During the same period last year, the business earned $3.17 EPS. On average, equities analysts forecast that Everest Re Group will post $20.05 earnings per share for the current fiscal year.

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Several hedge funds and other institutional investors have recently made changes to their positions in RE. Janney Montgomery Scott LLC purchased a new position in shares of Everest Re Group in the first quarter worth approximately $209,000. World Asset Management Inc boosted its holdings in shares of Everest Re Group by 1.3% in the first quarter. World Asset Management Inc now owns 2,877 shares of the insurance provider’s stock worth $673,000 after buying an additional 36 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Everest Re Group by 5.9% in the first quarter. Ameriprise Financial Inc. now owns 126,089 shares of the insurance provider’s stock worth $29,473,000 after buying an additional 7,038 shares during the last quarter. Toronto Dominion Bank boosted its holdings in shares of Everest Re Group by 23.1% in the first quarter. Toronto Dominion Bank now owns 447 shares of the insurance provider’s stock worth $104,000 after buying an additional 84 shares during the last quarter. Finally, Eagle Asset Management Inc. purchased a new position in shares of Everest Re Group in the first quarter worth approximately $1,978,000. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Everest Re Group Company Profile

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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