Everest Re Group Ltd (NYSE:RE) has earned an average recommendation of “Hold” from the ten analysts that are covering the company, MarketBeat Ratings reports. Eight analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $256.00.
Several analysts have recently commented on the company. Zacks Investment Research cut Everest Re Group from a “buy” rating to a “hold” rating in a report on Wednesday, May 15th. UBS Group raised their price target on Everest Re Group from $252.00 to $257.00 and gave the company a “neutral” rating in a report on Wednesday, July 10th. Morgan Stanley reduced their price target on Everest Re Group from $265.00 to $260.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. Barclays set a $300.00 price target on Everest Re Group and gave the company a “buy” rating in a report on Monday, August 12th. Finally, ValuEngine cut Everest Re Group from a “buy” rating to a “hold” rating in a report on Thursday, August 1st.
Shares of RE stock traded down $3.97 during midday trading on Friday, hitting $244.88. The company had a trading volume of 187,995 shares, compared to its average volume of 260,421. The company’s 50 day simple moving average is $251.84 and its 200 day simple moving average is $237.54. Everest Re Group has a 52-week low of $201.09 and a 52-week high of $260.51. The stock has a market cap of $10.14 billion, a price-to-earnings ratio of 52.66, a PEG ratio of 1.00 and a beta of 0.25. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.37 and a quick ratio of 0.37.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th will be issued a $1.40 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $5.60 annualized dividend and a dividend yield of 2.29%. Everest Re Group’s dividend payout ratio is currently 120.43%.
In related news, CEO John P. Doucette sold 5,000 shares of Everest Re Group stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $251.97, for a total transaction of $1,259,850.00. Following the completion of the transaction, the chief executive officer now directly owns 22,747 shares of the company’s stock, valued at $5,731,561.59. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Meryl D. Hartzband acquired 500 shares of Everest Re Group stock in a transaction that occurred on Friday, August 2nd. The shares were purchased at an average cost of $242.31 per share, with a total value of $121,155.00. Following the completion of the acquisition, the director now owns 9,570 shares of the company’s stock, valued at approximately $2,318,906.70. The disclosure for this purchase can be found here. 1.40% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the stock. Oakworth Capital Inc. acquired a new position in Everest Re Group during the second quarter worth $34,000. Point72 Hong Kong Ltd acquired a new position in Everest Re Group during the second quarter worth $44,000. CSat Investment Advisory L.P. raised its holdings in Everest Re Group by 31.6% during the second quarter. CSat Investment Advisory L.P. now owns 200 shares of the insurance provider’s stock worth $50,000 after purchasing an additional 48 shares during the last quarter. Advisory Services Network LLC acquired a new position in Everest Re Group during the second quarter worth $51,000. Finally, Ossiam acquired a new position in Everest Re Group during the second quarter worth $53,000. 89.99% of the stock is 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 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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