Everest Re Group (RE) Price Target Increased to $285.00 by Analysts at Barclays

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Everest Re Group (NYSE:RE) had its price target upped by Barclays from $260.00 to $285.00 in a research note issued to investors on Wednesday, BenzingaRatingsTable reports. Barclays currently has an overweight rating on the insurance provider’s stock.

Other research analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Everest Re Group from a sell rating to a hold rating in a research note on Wednesday, March 27th. UBS Group raised their target price on Everest Re Group from $236.00 to $250.00 and gave the company a neutral rating in a research note on Tuesday, May 7th. Morgan Stanley raised their target price on Everest Re Group from $232.00 to $248.00 and gave the company an equal weight rating in a research note on Wednesday, May 15th. ValuEngine upgraded Everest Re Group from a hold rating to a buy rating in a research note on Friday, May 3rd. Finally, Deutsche Bank cut Everest Re Group from a buy rating to a hold rating in a research note on Thursday, March 28th. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $253.20.

RE opened at $249.91 on Wednesday. The company has a market capitalization of $10.18 billion, a PE ratio of 53.74, a PEG ratio of 1.03 and a beta of 0.36. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.37 and a quick ratio of 0.37. Everest Re Group has a 52 week low of $201.09 and a 52 week high of $252.73.

Everest Re Group (NYSE:RE) last released its earnings results on Monday, May 6th. The insurance provider reported $6.91 EPS for the quarter, beating the Zacks’ consensus estimate of $5.91 by $1.00. The company had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.82 billion. Everest Re Group had a return on equity of 3.08% and a net margin of 3.19%. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter last year, the business posted $5.34 EPS. As a group, research analysts expect that Everest Re Group will post 24.3 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Wednesday, May 29th will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend is Tuesday, May 28th. Everest Re Group’s dividend payout ratio (DPR) is presently 120.43%.

In related news, Director John A. Weber sold 500 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $246.46, for a total transaction of $123,230.00. Following the completion of the transaction, the director now owns 6,499 shares of the company’s stock, valued at approximately $1,601,743.54. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Jonathan Zaffino sold 1,048 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $248.01, for a total value of $259,914.48. Following the transaction, the senior vice president now directly owns 9,617 shares of the company’s stock, valued at approximately $2,385,112.17. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,448 shares of company stock valued at $584,465. 1.40% of the stock is owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the stock. Accident Compensation Corp increased its stake in Everest Re Group by 26.9% during the first quarter. Accident Compensation Corp now owns 21,242 shares of the insurance provider’s stock worth $4,587,000 after acquiring an additional 4,499 shares during the last quarter. Nordea Investment Management AB increased its stake in Everest Re Group by 1.7% during the first quarter. Nordea Investment Management AB now owns 60,635 shares of the insurance provider’s stock worth $13,093,000 after acquiring an additional 1,016 shares during the last quarter. Jane Street Group LLC bought a new stake in Everest Re Group during the first quarter worth approximately $360,000. BlueCrest Capital Management Ltd increased its stake in Everest Re Group by 87.0% during the first quarter. BlueCrest Capital Management Ltd now owns 2,317 shares of the insurance provider’s stock worth $500,000 after acquiring an additional 1,078 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC bought a new stake in Everest Re Group during the first quarter worth approximately $2,074,000. 88.10% of the stock is owned by 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 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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Analyst Recommendations for Everest Re Group (NYSE:RE)

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