Everest Re Group (RE) Downgraded to “C+” at TheStreet
A number of other equities analysts have also commented on RE. ValuEngine raised shares of Everest Re Group from a buy rating to a strong-buy rating in a research report on Friday, September 1st. Buckingham Research started coverage on shares of Everest Re Group in a research report on Monday, September 11th. They issued a neutral rating and a $255.00 price target on the stock. UBS dropped their price target on shares of Everest Re Group from $256.00 to $240.00 and set a neutral rating on the stock in a research report on Tuesday, September 19th. Keefe, Bruyette & Woods reissued a sell rating and issued a $245.00 price target on shares of Everest Re Group in a research report on Thursday, September 21st. Finally, Zacks Investment Research lowered shares of Everest Re Group from a hold rating to a sell rating in a research report on Friday, October 13th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $250.56.
Everest Re Group (NYSE:RE) opened at $218.88 on Monday. The firm has a market cap of $9,003.30, a P/E ratio of 52.19, a P/E/G ratio of 17.19 and a beta of 0.61. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.08. Everest Re Group has a 52-week low of $208.81 and a 52-week high of $277.17.
The company also recently announced a quarterly dividend, which was paid on Wednesday, December 13th. Stockholders of record on Wednesday, November 29th were paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend was Tuesday, November 28th. This is an increase from Everest Re Group’s previous quarterly dividend of $1.25. Everest Re Group’s payout ratio is currently 81.63%.
In other news, Director William F. Galtney, Jr. bought 6,000 shares of Everest Re Group stock in a transaction dated Monday, November 20th. The shares were bought at an average price of $225.29 per share, for a total transaction of $1,351,740.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 1.30% of the stock is currently owned by insiders.
A number of large investors have recently made changes to their positions in the business. Acrospire Investment Management LLC increased its stake in shares of Everest Re Group by 66.7% in the 2nd quarter. Acrospire Investment Management LLC now owns 500 shares of the insurance provider’s stock valued at $127,000 after acquiring an additional 200 shares during the last quarter. Valeo Financial Advisors LLC bought a new stake in shares of Everest Re Group in the 3rd quarter valued at about $137,000. Pacer Advisors Inc. bought a new stake in shares of Everest Re Group in the 2nd quarter valued at about $160,000. IFP Advisors Inc increased its stake in shares of Everest Re Group by 29.1% in the 2nd quarter. IFP Advisors Inc now owns 657 shares of the insurance provider’s stock valued at $167,000 after acquiring an additional 148 shares during the last quarter. Finally, ETRADE Capital Management LLC bought a new stake in shares of Everest Re Group in the 2nd quarter valued at about $201,000. 93.22% of the stock is owned by hedge funds and other institutional investors.
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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.
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