Barclays Raises Everest Re Group (RE) Price Target to $285.00
Everest Re Group (NYSE:RE) had its target price hoisted by Barclays from $260.00 to $285.00 in a research note issued to investors on Wednesday, BenzingaRatingsTable reports. Barclays currently has an overweight rating on the insurance provider’s stock.
Other analysts have also issued reports about the company. Zacks Investment Research raised Everest Re Group from a sell rating to a hold rating in a report on Wednesday, March 27th. UBS Group raised their target price on Everest Re Group from $236.00 to $250.00 and gave the stock a neutral rating in a report on Tuesday, May 7th. Morgan Stanley raised their target price on Everest Re Group from $232.00 to $248.00 and gave the stock an equal weight rating in a report on Wednesday, May 15th. ValuEngine raised Everest Re Group from a hold rating to a buy rating in a report on Friday, May 3rd. Finally, Deutsche Bank lowered Everest Re Group from a buy rating to a hold rating in a report on Thursday, March 28th. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $253.20.
Everest Re Group stock opened at $250.33 on Wednesday. The stock has a market cap of $10.16 billion, a P/E ratio of 53.83, a P/E/G ratio of 1.03 and a beta of 0.36. Everest Re Group has a 52 week low of $201.09 and a 52 week high of $252.73. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.08.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Wednesday, May 29th will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Tuesday, May 28th. This represents a $5.60 dividend on an annualized basis and a yield of 2.24%. Everest Re Group’s dividend payout ratio is currently 120.43%.
In other Everest Re Group news, SVP Jonathan Zaffino sold 1,048 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $248.01, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Roger M. Singer sold 900 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $223.69, for a total value of $201,321.00. Following the transaction, the director now owns 13,432 shares in the company, valued at approximately $3,004,604.08. The disclosure for this sale can be found here. Insiders have sold 2,448 shares of company stock worth $584,465 in the last quarter. 1.40% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of the business. Somerset Trust Co lifted its position in shares of 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 acquiring an additional 80 shares in the last quarter. Stamos Capital Partners L.P. purchased a new position in shares of Everest Re Group in the fourth quarter valued at approximately $28,000. Penserra Capital Management LLC purchased a new position in shares of Everest Re Group in the fourth quarter valued at approximately $30,000. Cresset Asset Management LLC purchased a new position in shares of Everest Re Group in the first quarter valued at approximately $40,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of Everest Re Group by 282.5% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 218 shares of the insurance provider’s stock valued at $47,000 after acquiring an additional 161 shares in the last quarter. Institutional investors own 88.10% of the company’s stock.
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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