Everest Re Group, Ltd., through its subsidiaries, provides reinsurance and insurance products in the United States, Bermuda, and internationally. The company operates through Reinsurance Operations and Insurance Operations segments. The Reinsurance Operations segment writes property and casualty reinsurance; and specialty lines of business through reinsurance brokers, as well as directly with ceding companies in the United States, Bermuda, Ireland, Canada, Singapore, Switzerland, and the United Kingdom. The Insurance Operations segment writes property and casualty insurance directly, as well as through brokers, surplus lines brokers, and general agents in Bermuda, Canada, Europe, South America, Canada, Chile, the United Kingdom, Ireland, and the Netherlands. The company also provides treaty and facultative reinsurance products; admitted and non-admitted insurance products; and property and casualty reinsurance and insurance coverages, including marine, aviation, surety, errors and omissions liability, directors' and officers' liability, medical malpractice, mortgage reinsurance, other specialty lines, accident and health, and workers' compensation products. In addition, it offers commercial property and casualty insurance products through wholesale and retail brokers, surplus lines brokers, and program administrators. Everest Re Group, Ltd. was founded in 1973 and is headquartered in Hamilton, Bermuda.
Everest Re Group Price Performance
Shares of RE Stock opened at $257.80 on Tuesday. Everest Re Group has a fifty-two week low of $248.63 and a fifty-two week high of $308.20. The firm has a market capitalization of $10.17 billion, a price-to-earnings ratio of 13.07, a PEG ratio of 0.74 and a beta of 0.54. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.32 and a current ratio of 0.32. The stock's 50-day simple moving average is $272.56 and its 200-day simple moving average is $282.28.
Everest Re Group (NYSE:RE - Get Rating) last issued its quarterly earnings results on Wednesday, July 27th. The insurance provider reported $9.79 earnings per share for the quarter, topping analysts' consensus estimates of $9.31 by $0.48. Everest Re Group had a return on equity of 11.41% and a net margin of 6.61%. The business had revenue of $2.92 billion for the quarter, compared to analyst estimates of $3.01 billion. During the same quarter in the previous year, the firm earned $14.63 earnings per share. The company's revenue was up 14.0% on a year-over-year basis. As a group, equities analysts forecast that Everest Re Group will post 33.4 earnings per share for the current fiscal year.
Everest Re Group Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, June 17th. Stockholders of record on Wednesday, May 25th were paid a dividend of $1.65 per share. This is a positive change from Everest Re Group's previous quarterly dividend of $1.55. The ex-dividend date was Tuesday, May 24th. This represents a $6.60 dividend on an annualized basis and a dividend yield of 2.56%. Everest Re Group's payout ratio is presently 33.45%.
Analysts Set New Price Targets
RE has been the topic of a number of analyst reports. Jefferies Financial Group lifted their price objective on shares of Everest Re Group from $343.00 to $344.00 and gave the stock a "buy" rating in a research report on Tuesday, July 12th. StockNews.com raised Everest Re Group from a "hold" rating to a "buy" rating in a research report on Saturday, July 23rd.