Everest Re Group, Ltd. (NYSE:RE) has been assigned a $240.00 price target by stock analysts at Wells Fargo & Company in a research note issued on Monday. The firm currently has a “hold” rating on the insurance provider’s stock. Wells Fargo & Company’s price target would indicate a potential upside of 1.07% from the company’s current price.

A number of other research firms have also weighed in on RE. UBS AG lowered their target price on Everest Re Group from $240.00 to $230.00 and set a “neutral” rating for the company in a research note on Monday, October 2nd. Barclays PLC boosted their target price on Everest Re Group from $299.00 to $305.00 and gave the company an “overweight” rating in a research note on Friday, August 11th. Zacks Investment Research lowered Everest Re Group from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. BidaskClub lowered Everest Re Group from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Finally, ValuEngine lowered Everest Re Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 5th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $243.10.

Everest Re Group (NYSE:RE) opened at 237.45 on Monday. The company has a market capitalization of $9.75 billion, a P/E ratio of 8.15 and a beta of 0.62. The firm has a 50-day moving average price of $230.24 and a 200 day moving average price of $247.78. Everest Re Group has a 52-week low of $202.48 and a 52-week high of $277.17.

Everest Re Group (NYSE:RE) last posted its quarterly earnings data on Monday, October 30th. The insurance provider reported ($16.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.68 by ($20.11). Everest Re Group had a return on equity of 13.60% and a net margin of 19.65%. The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.62 billion. During the same quarter in the previous year, the company posted $6.53 earnings per share. Everest Re Group’s revenue for the quarter was up 16.6% compared to the same quarter last year. On average, analysts predict that Everest Re Group will post $1.91 earnings per share for the current fiscal year.

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Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Capital Fund Management S.A. bought a new position in Everest Re Group during the 2nd quarter valued at approximately $7,256,000. Stifel Financial Corp raised its position in Everest Re Group by 32.1% during the 2nd quarter. Stifel Financial Corp now owns 10,755 shares of the insurance provider’s stock valued at $2,740,000 after purchasing an additional 2,611 shares during the last quarter. OMERS ADMINISTRATION Corp bought a new position in Everest Re Group during the 2nd quarter valued at approximately $1,451,000. Swiss National Bank raised its position in Everest Re Group by 2.9% during the 2nd quarter. Swiss National Bank now owns 148,975 shares of the insurance provider’s stock valued at $37,928,000 after purchasing an additional 4,200 shares during the last quarter. Finally, Aberdeen Asset Management PLC UK raised its position in Everest Re Group by 144.2% during the 2nd quarter. Aberdeen Asset Management PLC UK now owns 101,717 shares of the insurance provider’s stock valued at $25,897,000 after purchasing an additional 60,058 shares during the last quarter. 93.39% of the stock is owned by institutional investors and hedge funds.

Everest Re Group Company Profile

Everest Re Group, Ltd., through its subsidiaries, is engaged in the underwriting of reinsurance and insurance in the United States, Bermuda and international markets. The Company operates in segments: U.S. Reinsurance, International, Bermuda and Insurance segment. The Company underwrites reinsurance both through brokers and directly with ceding companies.

Analyst Recommendations for Everest Re Group (NYSE:RE)

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