Everest Re Group (NYSE:RE) Rating Increased to Hold at ValuEngine

Everest Re Group (NYSE:RE) was upgraded by ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday, ValuEngine reports.

Several other research firms have also recently weighed in on RE. Deutsche Bank dropped their price objective on Everest Re Group from $270.00 to $250.00 and set a “hold” rating for the company in a report on Tuesday, April 14th. Credit Suisse Group lowered their target price on Everest Re Group from $190.00 to $180.00 and set a “neutral” rating for the company in a research note on Friday, April 24th. Citigroup lowered their target price on Everest Re Group from $302.00 to $219.00 and set a “neutral” rating for the company in a research note on Tuesday, April 21st. Cfra lifted their price objective on Everest Re Group from $272.00 to $305.00 and gave the company a “hold” rating in a research note on Wednesday, February 12th. Finally, Wells Fargo & Co lowered their price objective on Everest Re Group from $235.00 to $221.00 and set an “equal weight” rating for the company in a research note on Friday, April 24th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. Everest Re Group presently has a consensus rating of “Hold” and an average price target of $240.50.

Shares of Everest Re Group stock traded down $0.33 during trading on Thursday, hitting $205.68. 374,078 shares of the stock traded hands, compared to its average volume of 506,806. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.08. The stock has a market cap of $10.36 billion, a price-to-earnings ratio of 11.15 and a beta of 0.40. The firm’s fifty day moving average is $182.77 and its 200-day moving average is $242.61. Everest Re Group has a 52 week low of $157.32 and a 52 week high of $294.31.

Everest Re Group (NYSE:RE) last posted its quarterly earnings results on Wednesday, May 6th. The insurance provider reported $4.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.77 by $0.26. Everest Re Group had a return on equity of 8.48% and a net margin of 8.25%. The business had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.99 billion. During the same period last year, the company earned $6.91 EPS. Everest Re Group’s revenue for the quarter was up .8% compared to the same quarter last year. On average, analysts forecast that Everest Re Group will post 15.92 earnings per share for the current fiscal year.

In other Everest Re Group news, Director Geraldine Losquadro sold 200 shares of Everest Re Group stock in a transaction on Friday, May 1st. The stock was sold at an average price of $169.42, for a total value of $33,884.00. Following the completion of the sale, the director now owns 10,840 shares of the company’s stock, valued at approximately $1,836,512.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Joseph V. Taranto sold 12,000 shares of Everest Re Group stock in a transaction on Monday, May 11th. The stock was sold at an average price of $172.99, for a total value of $2,075,880.00. Following the completion of the sale, the chairman now directly owns 289,851 shares of the company’s stock, valued at approximately $50,141,324.49. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by insiders.

Several institutional investors have recently bought and sold shares of RE. Bristlecone Advisors LLC increased its stake in Everest Re Group by 7.5% during the fourth quarter. Bristlecone Advisors LLC now owns 860 shares of the insurance provider’s stock worth $238,000 after acquiring an additional 60 shares during the last quarter. Wealthfront Advisers LLC bought a new position in Everest Re Group in the fourth quarter worth approximately $217,000. Advisor Partners LLC grew its stake in Everest Re Group by 5.2% in the fourth quarter. Advisor Partners LLC now owns 1,520 shares of the insurance provider’s stock worth $419,000 after purchasing an additional 75 shares in the last quarter. Strs Ohio grew its stake in Everest Re Group by 134.9% in the fourth quarter. Strs Ohio now owns 4,756 shares of the insurance provider’s stock worth $1,316,000 after purchasing an additional 2,731 shares in the last quarter. Finally, New York State Teachers Retirement System grew its stake in Everest Re Group by 7.3% in the fourth quarter. New York State Teachers Retirement System now owns 65,150 shares of the insurance provider’s stock worth $18,036,000 after purchasing an additional 4,452 shares in the last quarter. 76.24% of the stock is owned by institutional investors and hedge funds.

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.

Read More: Stocks at 52 Week High

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Everest Re Group (NYSE:RE)

Receive News & Ratings for Everest Re Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Everest Re Group and related companies with MarketBeat.com's FREE daily email newsletter.