Everest Re Group, Ltd. (RE) Price Target Lowered to $280.00 at Barclays PLC
Everest Re Group, Ltd. (NYSE:RE) had its price objective reduced by Barclays PLC from $305.00 to $280.00 in a research report sent to investors on Monday. They currently have an overweight rating on the insurance provider’s stock.
A number of other analysts also recently issued reports on RE. BidaskClub upgraded shares of Everest Re Group from a hold rating to a buy rating in a report on Wednesday, July 5th. Morgan Stanley reiterated an equal weight rating and set a $259.00 target price (up previously from $250.00) on shares of Everest Re Group in a research report on Thursday, July 6th. Zacks Investment Research upgraded shares of Everest Re Group from a hold rating to a buy rating and set a $293.00 target price for the company in a research report on Friday, July 7th. Keefe, Bruyette & Woods lowered shares of Everest Re Group from a market perform rating to an underperform rating and cut their target price for the stock from $251.00 to $245.00 in a research report on Monday, July 17th. Finally, Wells Fargo & Company reiterated a hold rating on shares of Everest Re Group in a research report on Monday, July 24th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $243.44.
Shares of Everest Re Group (NYSE RE) opened at 238.12 on Monday. Everest Re Group has a one year low of $191.11 and a one year high of $277.17. The company’s 50 day moving average is $230.49 and its 200 day moving average is $247.66. The company has a market cap of $9.78 billion, a P/E ratio of 8.17 and a beta of 0.62.
Everest Re Group (NYSE:RE) last posted its quarterly earnings data on Monday, July 24th. The insurance provider reported $5.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.24 by $0.27. Everest Re Group had a net margin of 19.65% and a return on equity of 13.60%. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter last year, the company posted $3.17 earnings per share. On average, equities analysts predict that Everest Re Group will post ($0.13) earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 20th. Stockholders of record on Wednesday, September 6th were given a $1.25 dividend. The ex-dividend date was Friday, September 1st. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.10%. Everest Re Group’s dividend payout ratio (DPR) is currently 17.15%.
Several hedge funds have recently added to or reduced their stakes in the company. Achmea Investment Management B.V. boosted its position in shares of Everest Re Group by 3.9% in the second quarter. Achmea Investment Management B.V. now owns 11,349 shares of the insurance provider’s stock valued at $2,888,000 after acquiring an additional 425 shares during the period. Lord Abbett & CO. LLC boosted its position in shares of Everest Re Group by 2.5% in the second quarter. Lord Abbett & CO. LLC now owns 49,800 shares of the insurance provider’s stock valued at $12,679,000 after acquiring an additional 1,200 shares during the period. USA Financial Portformulas Corp bought a new position in shares of Everest Re Group in the second quarter valued at approximately $468,000. Sentry Investment Management LLC bought a new position in shares of Everest Re Group in the second quarter valued at approximately $802,000. Finally, Toronto Dominion Bank boosted its position in shares of Everest Re Group by 3,012.3% in the second quarter. Toronto Dominion Bank now owns 13,912 shares of the insurance provider’s stock valued at $3,541,000 after acquiring an additional 13,465 shares during the period. Institutional investors own 92.25% of the company’s stock.
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.
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