Everest Re Group Ltd (NYSE:RE) Raises Dividend to $1.55 Per Share

Everest Re Group Ltd (NYSE:RE) announced a quarterly dividend on Wednesday, November 20th, Zacks reports. Shareholders of record on Wednesday, December 4th will be paid a dividend of 1.55 per share by the insurance provider on Tuesday, December 24th. This represents a $6.20 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend is Tuesday, December 3rd. This is a boost from Everest Re Group’s previous quarterly dividend of $1.40.

Shares of RE stock opened at $271.26 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.35 and a current ratio of 0.35. The company has a market capitalization of $11.12 billion, a P/E ratio of 22.25, a price-to-earnings-growth ratio of 1.24 and a beta of 0.24. The company’s 50 day moving average price is $259.42 and its two-hundred day moving average price is $253.59. Everest Re Group has a 52 week low of $201.09 and a 52 week high of $274.24.

Everest Re Group (NYSE:RE) last announced its earnings results on Monday, October 28th. The insurance provider reported $3.39 EPS for the quarter, topping the consensus estimate of $2.07 by $1.32. The firm had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.03 billion. Everest Re Group had a net margin of 5.30% and a return on equity of 5.90%. The business’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period last year, the company posted $4.09 EPS. Analysts forecast that Everest Re Group will post 21.95 earnings per share for the current year.

Several analysts have commented on the stock. Barclays raised their target price on shares of Everest Re Group from $300.00 to $317.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Credit Suisse Group set a $256.00 price objective on shares of Everest Re Group and gave the company a “hold” rating in a report on Sunday, September 15th. Finally, Wells Fargo & Co reiterated a “hold” rating and issued a $250.00 price objective on shares of Everest Re Group in a report on Monday, October 28th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Everest Re Group presently has a consensus rating of “Hold” and an average price target of $268.00.

About Everest Re Group

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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Dividend History for Everest Re Group (NYSE:RE)

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