Everest Re Group (NYSE:RE) had its target price lowered by stock analysts at Morgan Stanley from $316.00 to $312.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has an "overweight" rating on the insurance provider's stock. Morgan Stanley's price target would indicate a potential upside of 16.57% from the stock's current price.
Several other equities research analysts also recently issued reports on RE. Zacks Investment Research downgraded shares of Everest Re Group from a "hold" rating to a "sell" rating and set a $262.00 target price for the company. in a research note on Monday, March 8th. Citigroup raised their target price on shares of Everest Re Group from $275.00 to $287.00 in a research note on Wednesday, March 31st. Finally, Deutsche Bank Aktiengesellschaft raised shares of Everest Re Group from a "hold" rating to a "buy" rating and increased their price target for the company from $245.00 to $305.00 in a report on Sunday, March 28th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of "Buy" and an average target price of $271.00.
Everest Re Group stock opened at $267.64 on Thursday. The firm has a 50-day moving average of $251.64 and a 200-day moving average of $232.36. Everest Re Group has a one year low of $157.32 and a one year high of $267.80. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.35 and a quick ratio of 0.35. The company has a market cap of $13.35 billion, a price-to-earnings ratio of 16.15, a P/E/G ratio of 1.10 and a beta of 0.58.
Everest Re Group (NYSE:RE) last posted its quarterly earnings data on Sunday, February 7th. The insurance provider reported ($1.12) EPS for the quarter, missing the Zacks' consensus estimate of ($1.03) by ($0.09). Everest Re Group had a return on equity of 5.19% and a net margin of 7.38%. The business had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.33 billion. During the same quarter in the prior year, the company earned $3.20 earnings per share. As a group, sell-side analysts expect that Everest Re Group will post 12.81 earnings per share for the current year.
A number of large investors have recently made changes to their positions in RE. Norges Bank bought a new position in Everest Re Group in the fourth quarter valued at approximately $99,290,000. Principal Financial Group Inc. boosted its position in Everest Re Group by 443.8% in the fourth quarter. Principal Financial Group Inc. now owns 345,992 shares of the insurance provider's stock valued at $80,994,000 after buying an additional 282,365 shares in the last quarter. Miller Howard Investments Inc. NY acquired a new stake in Everest Re Group in the first quarter valued at approximately $39,585,000. Boston Partners boosted its position in Everest Re Group by 5.8% in the fourth quarter. Boston Partners now owns 2,356,704 shares of the insurance provider's stock valued at $551,682,000 after buying an additional 128,957 shares in the last quarter. Finally, Scout Investments Inc. boosted its position in Everest Re Group by 151.5% in the fourth quarter. Scout Investments Inc. now owns 160,071 shares of the insurance provider's stock valued at $37,471,000 after buying an additional 96,414 shares in the last quarter. 94.02% of the stock is currently owned by institutional investors and hedge funds.
Everest Re Group Company Profile
Everest Re Group Ltd. is a holding company, which engages in the provision of reinsurance and insurance services. It operates through the following 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 business, on both a treaty and facultative basis, through reinsurance brokers, as well as directly with ceding companies primarily within the U.S.
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