Everest Re Group, Ltd. (NYSE:RE) Given “Neutral” Rating at UBS AG

Everest Re Group, Ltd. (NYSE:RE)‘s stock had its “neutral” rating restated by analysts at UBS AG in a research report issued to clients and investors on Tuesday, August 1st, www.flashratings.com reports. They currently have a $256.00 target price on the insurance provider’s stock, up from their previous target price of $251.00. UBS AG’s target price suggests a potential downside of 3.42% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Everest Re Group from a “hold” rating to a “buy” rating and set a $295.00 target price for the company in a research note on Monday, July 17th. BidaskClub raised shares of Everest Re Group from a “hold” rating to a “buy” rating in a research note on Wednesday, July 5th. Deutsche Bank AG reissued a “buy” rating and set a $262.00 target price (up previously from $240.00) on shares of Everest Re Group in a research note on Saturday, April 29th. Barclays PLC lifted their target price on shares of Everest Re Group from $269.00 to $299.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 25th. Finally, Morgan Stanley reissued 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 note on Thursday, July 6th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Everest Re Group has a consensus rating of “Hold” and an average price target of $250.25.

Shares of Everest Re Group (RE) opened at 265.07 on Tuesday. Everest Re Group has a 52-week low of $183.04 and a 52-week high of $277.17. The company has a market cap of $10.88 billion, a PE ratio of 9.09 and a beta of 0.63. The company has a 50 day moving average of $263.19 and a 200-day moving average of $245.23.

Everest Re Group (NYSE:RE) last issued its quarterly earnings results on Monday, July 24th. The insurance provider reported $5.51 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 company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the previous year, the business earned $3.17 earnings per share. Analysts forecast that Everest Re Group will post $21.48 EPS for the current fiscal year.

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Large investors have recently bought and sold shares of the stock. Toronto Dominion Bank increased its stake in Everest Re Group by 23.1% in the first quarter. Toronto Dominion Bank now owns 447 shares of the insurance provider’s stock valued at $104,000 after buying an additional 84 shares during the period. Acrospire Investment Management LLC increased its stake in Everest Re Group by 66.7% in the second quarter. Acrospire Investment Management LLC now owns 500 shares of the insurance provider’s stock valued at $127,000 after buying an additional 200 shares during the period. IFP Advisors Inc increased its stake in Everest Re Group by 1.6% in the first quarter. IFP Advisors Inc now owns 509 shares of the insurance provider’s stock valued at $119,000 after buying an additional 8 shares during the period. Assetmark Inc. bought a new stake in Everest Re Group during the first quarter valued at $142,000. Finally, Pacer Advisors Inc. bought a new stake in Everest Re Group during the second quarter valued at $160,000. 92.69% of the stock is 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.