Brokerages Set Everest Re Group Ltd (RE) Price Target at $245.43

Shares of Everest Re Group Ltd (NYSE:RE) have received an average rating of “Hold” from the ten research firms that are currently covering the firm, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year target price among brokers that have covered the stock in the last year is $245.43.

Several analysts have issued reports on the company. Deutsche Bank dropped their price target on Everest Re Group from $250.00 to $247.00 and set a “buy” rating on the stock in a research note on Tuesday, November 20th. Zacks Investment Research upgraded Everest Re Group from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Wells Fargo & Co reiterated a “hold” rating and set a $235.00 price target on shares of Everest Re Group in a report on Thursday, January 24th. Finally, Morgan Stanley decreased their price objective on Everest Re Group from $243.00 to $232.00 and set an “equal weight” rating for the company in a report on Thursday, January 3rd.

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A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Stamos Capital Partners L.P. acquired a new stake in shares of Everest Re Group during the 4th quarter worth approximately $28,000. Penserra Capital Management LLC acquired a new position in Everest Re Group during the 4th quarter valued at about $30,000. First Interstate Bank purchased a new position in shares of Everest Re Group in the 4th quarter worth approximately $50,000. Advisor Group Inc. boosted its stake in shares of Everest Re Group by 16.4% in the 4th quarter. Advisor Group Inc. now owns 512 shares of the insurance provider’s stock worth $111,000 after buying an additional 72 shares during the last quarter. Finally, ETF Managers Group LLC boosted its stake in shares of Everest Re Group by 18.3% in the 4th quarter. ETF Managers Group LLC now owns 518 shares of the insurance provider’s stock worth $113,000 after buying an additional 80 shares during the last quarter. 92.72% of the stock is currently owned by hedge funds and other institutional investors.

Shares of RE traded down $0.72 during mid-day trading on Friday, reaching $225.39. The company had a trading volume of 209,991 shares, compared to its average volume of 272,354. Everest Re Group has a twelve month low of $201.09 and a twelve month high of $264.88. The company has a current ratio of 0.31, a quick ratio of 0.37 and a debt-to-equity ratio of 0.08. The stock has a market cap of $9.10 billion, a PE ratio of 48.47, a PEG ratio of 0.97 and a beta of 0.33.

Everest Re Group (NYSE:RE) last released its earnings results on Monday, February 11th. The insurance provider reported ($5.89) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $6.04 by ($11.93). Everest Re Group had a net margin of 1.40% and a return on equity of 2.33%. The firm had revenue of $1.97 billion during the quarter, compared to analyst estimates of $2.03 billion. On average, sell-side analysts forecast that Everest Re Group will post 23.19 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend is Tuesday, March 5th. Everest Re Group’s dividend payout ratio (DPR) is currently 120.43%.

About Everest Re Group

Everest Re Group, Ltd., through its subsidiaries, provides reinsurance and insurance products. The company operates through the U.S. Reinsurance, International, Bermuda, and Insurance segments. 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 Unites States.

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