Everest Re Group (RE) Earns Hold Rating from Wells Fargo & Co

Everest Re Group (NYSE:RE)‘s stock had its “hold” rating reaffirmed by stock analysts at Wells Fargo & Co in a research note issued to investors on Thursday. They presently have a $235.00 price target on the insurance provider’s stock. Wells Fargo & Co’s price target indicates a potential upside of 8.71% from the company’s previous close.

Other analysts have also recently issued research reports about the company. ValuEngine cut Everest Re Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 24th. Zacks Investment Research cut Everest Re Group from a “buy” rating to a “hold” rating in a report on Monday, July 9th. Credit Suisse Group began coverage on Everest Re Group in a report on Tuesday, August 7th. They set a “neutral” rating and a $239.00 price objective on the stock. Citigroup began coverage on Everest Re Group in a report on Wednesday, October 10th. They set a “neutral” rating and a $237.00 price objective on the stock. Finally, TheStreet cut Everest Re Group from a “b” rating to a “c+” rating in a report on Thursday, September 6th. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $252.44.

Shares of RE opened at $216.18 on Thursday. The stock has a market cap of $8.83 billion, a P/E ratio of 23.76, a P/E/G ratio of 1.24 and a beta of 0.42. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.35 and a current ratio of 0.35. Everest Re Group has a 52-week low of $206.68 and a 52-week high of $264.88.

Everest Re Group (NYSE:RE) last issued its quarterly earnings data on Monday, July 30th. The insurance provider reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.03). The company had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.72 billion. Everest Re Group had a return on equity of 1.80% and a net margin of 2.93%. During the same period last year, the company posted $5.51 EPS. As a group, research analysts expect that Everest Re Group will post 17.46 EPS for the current year.

In other Everest Re Group news, CEO John P. Doucette sold 900 shares of the company’s stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $215.32, for a total value of $193,788.00. Following the transaction, the chief executive officer now directly owns 22,620 shares in the company, valued at approximately $4,870,538.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in RE. Strs Ohio bought a new position in shares of Everest Re Group during the 3rd quarter valued at about $542,000. Reilly Financial Advisors LLC increased its position in shares of Everest Re Group by 19.2% during the 3rd quarter. Reilly Financial Advisors LLC now owns 5,880 shares of the insurance provider’s stock valued at $1,343,000 after purchasing an additional 948 shares during the last quarter. Lodestar Investment Counsel LLC IL increased its position in shares of Everest Re Group by 3.9% during the 3rd quarter. Lodestar Investment Counsel LLC IL now owns 60,020 shares of the insurance provider’s stock valued at $13,713,000 after purchasing an additional 2,260 shares during the last quarter. Oakbrook Investments LLC increased its position in shares of Everest Re Group by 25.5% during the 3rd quarter. Oakbrook Investments LLC now owns 4,435 shares of the insurance provider’s stock valued at $1,013,000 after purchasing an additional 900 shares during the last quarter. Finally, First Hawaiian Bank bought a new position in shares of Everest Re Group during the 3rd quarter valued at about $526,000. Institutional investors and hedge funds own 92.92% of the company’s stock.

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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Analyst Recommendations for Everest Re Group (NYSE:RE)

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