Everest Re Group (NYSE:RE) Price Target Raised to $257.00 at UBS Group

Everest Re Group (NYSE:RE) had its price objective raised by UBS Group from $252.00 to $257.00 in a research note issued to investors on Wednesday, Stock Target Advisor reports. The firm currently has a neutral rating on the insurance provider’s stock.

A number of other equities analysts have also recently issued reports on RE. Zacks Investment Research cut HEXO from a hold rating to a sell rating in a report on Wednesday, May 15th. Barclays set a $34.00 price target on DCP Midstream and gave the stock a hold rating in a report on Wednesday, May 22nd. ValuEngine upgraded Yirendai from a strong sell rating to a sell rating in a report on Friday, May 3rd. Morgan Stanley restated an overweight rating and set a C$125.00 price target on shares of Intact Financial in a report on Wednesday, May 15th. Finally, Deutsche Bank cut Everest Re Group from a buy rating to a hold rating in a report on Thursday, March 28th. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Everest Re Group currently has a consensus rating of Hold and an average price target of $251.00.

Shares of RE stock opened at $257.72 on Wednesday. The firm has a 50 day moving average of $250.75. Everest Re Group has a one year low of $201.09 and a one year high of $260.02. The company has a market capitalization of $10.50 billion, a PE ratio of 55.42, a PEG ratio of 1.05 and a beta of 0.26. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.37 and a quick ratio of 0.37.



Everest Re Group (NYSE:RE) last announced its earnings results on Monday, May 6th. The insurance provider reported $6.91 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $5.91 by $1.00. Everest Re Group had a return on equity of 3.08% and a net margin of 3.19%. The business had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same period in the prior year, the business posted $5.34 earnings per share. The firm’s revenue was up 12.3% on a year-over-year basis. Sell-side analysts predict that Everest Re Group will post 24.49 earnings per share for the current year.

In other Everest Re Group news, Director John A. Weber sold 500 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $246.46, for a total transaction of $123,230.00. Following the transaction, the director now directly owns 6,499 shares in the company, valued at approximately $1,601,743.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Jonathan Zaffino sold 1,048 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $248.01, for a total value of $259,914.48. Following the transaction, the senior vice president now owns 9,617 shares in the company, valued at $2,385,112.17. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by corporate insiders.

Large investors have recently modified their holdings of the company. Somerset Trust Co raised its position in shares of Everest Re Group by 190.5% during the first quarter. Somerset Trust Co now owns 122 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 80 shares during the period. Quadrant Capital Group LLC raised its position in shares of Everest Re Group by 215.2% during the first quarter. Quadrant Capital Group LLC now owns 312 shares of the insurance provider’s stock worth $64,000 after purchasing an additional 213 shares during the period. Advisor Group Inc. raised its position in shares of Everest Re Group by 16.4% during the fourth quarter. Advisor Group Inc. now owns 512 shares of the insurance provider’s stock worth $111,000 after purchasing an additional 72 shares during the period. ETF Managers Group LLC raised its position in shares of Everest Re Group by 9.3% during the first quarter. ETF Managers Group LLC now owns 566 shares of the insurance provider’s stock worth $122,000 after purchasing an additional 48 shares during the period. Finally, Tredje AP fonden acquired a new position in shares of Everest Re Group during the first quarter worth approximately $153,000. 91.28% of the stock is currently owned by institutional investors.

Everest Re Group Company Profile

Everest Re Group, Ltd., through its subsidiaries, provides reinsurance and insurance products in the United States, Bermuda, and internationally. The company operates through four segments: U.S. Reinsurance, International, Bermuda, and Insurance. 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 United States.

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Analyst Recommendations for Everest Re Group (NYSE:RE)

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