Everest Re Group (RE) Stock Rating Reaffirmed by Wells Fargo & Co

Wells Fargo & Co reaffirmed their market perform rating on shares of Everest Re Group (NYSE:RE) in a report released on Tuesday, January 9th, The Fly reports. They currently have a $235.00 price objective on the insurance provider’s stock, down from their previous price objective of $240.00.

RE has been the topic of several other research reports. Keefe, Bruyette & Woods reiterated a hold rating and issued a $234.00 price objective on shares of Everest Re Group in a research note on Wednesday, December 6th. UBS Group increased their target price on Everest Re Group from $230.00 to $245.00 and gave the stock a neutral rating in a research report on Monday, November 6th. TheStreet downgraded Everest Re Group from a b rating to a c+ rating in a research report on Monday, December 18th. Zacks Investment Research upgraded Everest Re Group from a hold rating to a strong-buy rating and set a $253.00 price objective on the stock in a research report on Friday, January 5th. Finally, Barclays lowered their price objective on Everest Re Group from $305.00 to $280.00 and set an overweight rating on the stock in a research report on Monday, October 16th. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Everest Re Group has an average rating of Hold and a consensus price target of $252.88.

Shares of Everest Re Group (RE) traded up $1.36 on Tuesday, reaching $224.60. The company’s stock had a trading volume of 259,152 shares, compared to its average volume of 392,215. The firm has a market cap of $9,230.00, a P/E ratio of 34.19, a PEG ratio of 1.12 and a beta of 0.61. Everest Re Group has a 52-week low of $208.81 and a 52-week high of $277.17. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.33 and a quick ratio of 0.33.

Everest Re Group (NYSE:RE) last announced its quarterly earnings data on Monday, October 30th. The insurance provider reported ($16.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.68 by ($20.11). Everest Re Group had a net margin of 4.27% and a return on equity of 2.22%. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.62 billion. During the same period in the prior year, the firm earned $6.53 earnings per share. The firm’s revenue for the quarter was up 16.6% compared to the same quarter last year. equities research analysts forecast that Everest Re Group will post 1.28 EPS for the current fiscal year.

In other Everest Re Group news, Director John A. Graf bought 2,285 shares of the stock in a transaction dated Monday, January 8th. The stock was purchased at an average cost of $219.07 per share, for a total transaction of $500,574.95. Following the completion of the acquisition, the director now owns 5,550 shares of the company’s stock, valued at $1,215,838.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William F. Galtney, Jr. bought 6,000 shares of the stock in a transaction dated Monday, November 20th. The shares were acquired at an average price of $225.29 per share, with a total value of $1,351,740.00. The disclosure for this purchase can be found here. Insiders have bought 8,323 shares of company stock worth $1,860,654 over the last ninety days. Insiders own 1.30% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in RE. Acrospire Investment Management LLC increased its position in shares of Everest Re Group by 66.7% during the second 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 in the last quarter. Valeo Financial Advisors LLC bought a new stake in shares of Everest Re Group during the third quarter valued at approximately $137,000. Pacer Advisors Inc. bought a new stake in shares of Everest Re Group during the second quarter valued at approximately $160,000. ETRADE Capital Management LLC bought a new stake in shares of Everest Re Group during the second quarter valued at approximately $201,000. Finally, Diversified Trust Co bought a new stake in shares of Everest Re Group during the fourth quarter valued at approximately $201,000. 93.37% of the stock is owned by institutional investors.

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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.

The Fly

Analyst Recommendations for Everest Re Group (NYSE:RE)

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