Everest Re Group (NYSE:RE – Get Rating) had its price target raised by research analysts at Wells Fargo & Company from $365.00 to $408.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the insurance provider’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 18.44% from the company’s current price.
Several other research analysts have also commented on the company. StockNews.com lowered Everest Re Group from a “buy” rating to a “hold” rating in a research report on Friday, November 4th. Morgan Stanley lifted their price target on Everest Re Group from $320.00 to $345.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 22nd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $365.67.
Everest Re Group Price Performance
Shares of NYSE RE opened at $344.49 on Wednesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.31 and a current ratio of 0.31. Everest Re Group has a fifty-two week low of $244.57 and a fifty-two week high of $361.67. The firm has a market capitalization of $13.49 billion, a PE ratio of 25.73, a price-to-earnings-growth ratio of 0.62 and a beta of 0.60. The stock’s 50-day simple moving average is $333.62 and its 200-day simple moving average is $296.79.
Everest Re Group (NYSE:RE – Get Rating) last released its quarterly earnings results on Wednesday, October 26th. The insurance provider reported ($5.28) EPS for the quarter, topping the consensus estimate of ($5.89) by $0.61. The company had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.27 billion. Everest Re Group had a return on equity of 10.46% and a net margin of 4.47%. As a group, equities research analysts forecast that Everest Re Group will post 23.82 EPS for the current fiscal year.
Insider Activity at Everest Re Group
In related news, VP Sanjoy Mukherjee sold 700 shares of Everest Re Group stock in a transaction that occurred on Thursday, November 17th. The stock was sold at an average price of $317.38, for a total value of $222,166.00. Following the sale, the vice president now directly owns 42,393 shares in the company, valued at $13,454,690.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, VP Sanjoy Mukherjee sold 700 shares of Everest Re Group stock in a transaction that occurred on Thursday, November 17th. The stock was sold at an average price of $317.38, for a total value of $222,166.00. Following the sale, the vice president now directly owns 42,393 shares in the company, valued at $13,454,690.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John A. Weber sold 2,391 shares of the business’s stock in a transaction on Monday, October 31st. The stock was sold at an average price of $323.00, for a total value of $772,293.00. Following the sale, the director now owns 7,744 shares in the company, valued at $2,501,312. The disclosure for this sale can be found here. Insiders have sold a total of 6,759 shares of company stock worth $2,171,162 over the last three months. 1.40% of the stock is currently owned by corporate insiders.
Institutional Trading of Everest Re Group
Institutional investors have recently bought and sold shares of the company. Trifecta Capital Advisors LLC purchased a new stake in Everest Re Group during the fourth quarter worth $27,000. FinTrust Capital Advisors LLC raised its holdings in shares of Everest Re Group by 248.1% in the third quarter. FinTrust Capital Advisors LLC now owns 94 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 67 shares during the last quarter. Benjamin F. Edwards & Company Inc. acquired a new position in shares of Everest Re Group in the third quarter worth $26,000. Ronald Blue Trust Inc. raised its holdings in shares of Everest Re Group by 57.6% in the fourth quarter. Ronald Blue Trust Inc. now owns 104 shares of the insurance provider’s stock worth $27,000 after acquiring an additional 38 shares during the last quarter. Finally, First Horizon Advisors Inc. raised its holdings in shares of Everest Re Group by 71.2% in the second quarter. First Horizon Advisors Inc. now owns 113 shares of the insurance provider’s stock worth $31,000 after acquiring an additional 47 shares during the last quarter. 92.38% of the stock is currently owned by hedge funds and other institutional investors.
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 Reinsurance Operations and Insurance Operations segments. The Reinsurance Operations segment writes property and casualty reinsurance; and specialty lines of business through reinsurance brokers, as well as directly with ceding companies in the United States, Bermuda, Ireland, Canada, Singapore, Switzerland, and the United Kingdom.
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