Everest Re Group Ltd (NYSE:RE) has been given an average recommendation of “Hold” by the ten ratings firms that are covering the stock, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $255.83.
A number of analysts have recently weighed in on the stock. Credit Suisse Group set a $256.00 price target on shares of Everest Re Group and gave the stock a “hold” rating in a research report on Sunday. Barclays set a $300.00 price objective on Everest Re Group and gave the stock a “buy” rating in a research note on Monday, August 12th. UBS Group raised their price objective on Everest Re Group from $252.00 to $257.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 10th. ValuEngine cut Everest Re Group from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Morgan Stanley reduced their price objective on Everest Re Group from $265.00 to $260.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd.
NYSE:RE traded up $0.54 during trading hours on Thursday, hitting $262.29. The stock had a trading volume of 469,802 shares, compared to its average volume of 297,659. Everest Re Group has a 1-year low of $201.09 and a 1-year high of $264.01. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.07. The company has a market cap of $10.39 billion, a PE ratio of 56.41, a price-to-earnings-growth ratio of 1.02 and a beta of 0.25. The business has a 50 day simple moving average of $247.68 and a two-hundred day simple moving average of $240.89.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th were paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date was Tuesday, September 3rd. Everest Re Group’s payout ratio is 120.43%.
In related news, Director Meryl D. Hartzband bought 500 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were bought at an average cost of $242.31 per share, for a total transaction of $121,155.00. Following the completion of the purchase, the director now owns 9,570 shares of the company’s stock, valued at approximately $2,318,906.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John P. Doucette sold 5,000 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $251.97, for a total value of $1,259,850.00. Following the completion of the sale, the chief executive officer now owns 22,747 shares in the company, valued at $5,731,561.59. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of RE. BlackRock Inc. raised its stake in shares of Everest Re Group by 16.3% during the second quarter. BlackRock Inc. now owns 3,965,427 shares of the insurance provider’s stock valued at $980,173,000 after purchasing an additional 555,838 shares in the last quarter. Invesco Ltd. raised its stake in shares of Everest Re Group by 122.1% during the second quarter. Invesco Ltd. now owns 730,130 shares of the insurance provider’s stock valued at $180,473,000 after purchasing an additional 401,412 shares in the last quarter. Nuveen Asset Management LLC bought a new stake in shares of Everest Re Group during the second quarter valued at about $93,471,000. Scout Investments Inc. bought a new stake in shares of Everest Re Group during the second quarter valued at about $48,411,000. Finally, Federated Investors Inc. PA grew its holdings in Everest Re Group by 186.4% during the first quarter. Federated Investors Inc. PA now owns 261,124 shares of the insurance provider’s stock worth $56,392,000 after acquiring an additional 169,952 shares during the period. Institutional investors and hedge funds own 91.76% of the company’s stock.
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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