Everest Re Group (NYSE:RE) Given New $265.00 Price Target at Morgan Stanley

Everest Re Group (NYSE:RE) had its target price raised by Morgan Stanley from $248.00 to $265.00 in a report released on Friday morning, BenzingaRatingsTable reports. They currently have an equal weight rating on the insurance provider’s stock.

Several other equities analysts have also issued reports on RE. ValuEngine raised Yirendai from a strong sell rating to a sell rating in a report on Friday, May 3rd. Zacks Investment Research lowered HEXO from a hold rating to a sell rating in a report on Wednesday, May 15th. Barclays set a $34.00 target price on DCP Midstream and gave the company a hold rating in a report on Wednesday, May 22nd. UBS Group upped their target price on Willis Towers Watson from $202.00 to $220.00 and gave the company a buy rating in a report on Wednesday, July 10th. Finally, Deutsche Bank lowered Everest Re Group from a buy rating to a hold rating in a report on Thursday, March 28th. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $251.63.

Shares of RE opened at $253.41 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.37 and a quick ratio of 0.37. The business’s 50 day moving average is $252.02. The company has a market cap of $10.26 billion, a price-to-earnings ratio of 54.50, a P/E/G ratio of 1.03 and a beta of 0.26. Everest Re Group has a 52 week low of $201.09 and a 52 week high of $260.51.

Everest Re Group (NYSE:RE) last released its earnings results on Monday, May 6th. The insurance provider reported $6.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.91 by $1.00. The company had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.82 billion. Everest Re Group had a return on equity of 3.08% and a net margin of 3.19%. Everest Re Group’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period in the prior year, the company posted $5.34 earnings per share. On average, analysts expect that Everest Re Group will post 24.49 earnings per share for the current year.

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

Institutional investors have recently bought and sold shares of the stock. Somerset Trust Co lifted its stake in Everest Re Group by 190.5% in the first quarter. Somerset Trust Co now owns 122 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 80 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in Everest Re Group by 215.2% in the first quarter. Quadrant Capital Group LLC now owns 312 shares of the insurance provider’s stock valued at $64,000 after purchasing an additional 213 shares during the last quarter. Advisor Group Inc. lifted its stake in Everest Re Group by 16.4% in the fourth quarter. Advisor Group Inc. now owns 512 shares of the insurance provider’s stock valued at $111,000 after purchasing an additional 72 shares during the last quarter. ETF Managers Group LLC lifted its stake in Everest Re Group by 9.3% in the first quarter. ETF Managers Group LLC now owns 566 shares of the insurance provider’s stock valued at $122,000 after purchasing an additional 48 shares during the last quarter. Finally, Tredje AP fonden purchased a new position in Everest Re Group in the first quarter valued at approximately $153,000. Institutional investors and hedge funds own 91.65% of the company’s stock.

About Everest Re Group

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.

See Also: What is a trade deficit?

Analyst Recommendations for Everest Re Group (NYSE:RE)

Receive News & Ratings for Everest Re Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Everest Re Group and related companies with MarketBeat.com's FREE daily email newsletter.