In yesterday’s Wall Street session, Everest Re Group Ltd. (NYSE:RE) shares traded at $346.14, down -3.01% from the previous session.
10 analysts cover Everest Re Group Ltd. (NYSE:RE), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $481.00 and a low of $370.00, we find $417.50. Given the previous closing price of $356.90, this indicates a potential upside of 16.98 percent. RE stock price is now -4.06% away from the 50-day moving average and 13.11% away from the 200-day moving average. The market capitalization of the company currently stands at $13.98B.
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The stock has received a hold rating from 2 analysts and a buy rating from 5. Brokers who have rated the stock have averaged $420.00 as their price target over the next twelve months.
With the price target of $385, Raymond James recently initiated with Outperform rating for Everest Re Group Ltd. (NYSE: RE). On January 20, 2023, BMO Capital Markets recently initiated its ‘Market Perform’ rating on the stock quoting a target price of $380, while ‘Morgan Stanley’ rates the stock as ‘Equal-Weight’.
In other news, WEBER JOHN A, Director sold 2,333 shares of the company’s stock on Dec 16. The stock was sold for $746,793 at an average price of $320.10. Upon completion of the transaction, the Director now directly owns 4,076 shares in the company, valued at $1.41 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 16, Director WEBER JOHN A sold 1,155 shares of the business’s stock. A total of $369,716 was realized by selling the stock at an average price of $320.10. This leaves the insider owning 332 shares of the company worth $0.11 million. Insiders disposed of 26,996 shares of company stock worth roughly $9.34 million over the past 1 year. A total of 0.50% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in RE stock. A new stake in Everest Re Group Ltd. shares was purchased by EGERTON CAPITAL (UK) LLP during the first quarter worth $155,521,000. CLEARBRIDGE INVESTMENTS, LLC invested $26,203,000 in shares of RE during the first quarter. In the first quarter, TWO SIGMA INVESTMENTS, LP acquired a new stake in Everest Re Group Ltd. valued at approximately $23,143,000. HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND acquired a new stake in RE for approximately $21,394,000. CASTLE HOOK PARTNERS LP purchased a new stake in RE valued at around $21,159,000 in the second quarter. In total, there are 819 active investors with 96.50% ownership of the company’s stock.
On Monday morning Everest Re Group Ltd. (NYSE: RE) stock kicked off with the opening price of $349.24. During the past 12 months, Everest Re Group Ltd. has had a low of $244.57 and a high of $394.99. The fifty day moving average price for RE is $360.79 and a two-hundred day moving average price translates $306.01 for the stock.
The latest earnings results from Everest Re Group Ltd. (NYSE: RE) was released for Dec, 2022. The net profit margin was 4.70% and return on equity was 6.80% for RE. For the current quarter, analysts expect RE to generate $3.14B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 03/30/2023. Investors who held shares on 03/16/2023 were paid a $1.65 dividend. On an annualized basis, this represents a $6.60 dividend and a 1.91% percent yield. There was an ex-dividend date of 03/15/2023 for this dividend. In terms of dividend payout ratio, RE is presently at 43.90%.
Everest Re Group Ltd.(RE) 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 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.
