Everest Re Group Ltd. (NYSE:RE) – Investment analysts at Langen Mcalenn upped their Q4 2016 EPS estimates for Everest Re Group in a research note issued on Thursday. Langen Mcalenn analyst L. Greenberg now forecasts that the firm will post earnings per share of $5.65 for the quarter, up from their prior forecast of $5.60. Langen Mcalenn also issued estimates for Everest Re Group’s Q4 2017 earnings at $5.81 EPS and FY2017 earnings at $16.95 EPS.
Everest Re Group (NYSE:RE) last released its earnings results on Monday, July 25th. The company reported $3.17 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.85 by $0.32. The business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.30 billion. Everest Re Group had a return on equity of 11.78% and a net margin of 13.79%. During the same quarter in the previous year, the company posted $5.03 earnings per share.
A number of other research firms have also issued reports on RE. Zacks Investment Research lowered Everest Re Group from a “hold” rating to a “sell” rating in a research note on Tuesday, July 12th. Keefe, Bruyette & Woods increased their target price on Everest Re Group from $199.00 to $204.00 and gave the company a “market perform” rating in a research note on Wednesday, July 27th. Finally, Barclays PLC reiterated an “overweight” rating and issued a $215.00 target price on shares of Everest Re Group in a research note on Wednesday, July 27th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Everest Re Group has a consensus rating of “Hold” and an average target price of $201.83.
Everest Re Group (NYSE:RE) opened at 190.43 on Monday. The firm has a market cap of $7.98 billion, a price-to-earnings ratio of 10.63 and a beta of 0.60. Everest Re Group has a 12-month low of $167.07 and a 12-month high of $199.98. The stock has a 50 day moving average price of $190.54 and a 200-day moving average price of $186.66.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Fund Advisors increased its position in Everest Re Group by 6.1% in the first quarter. BlackRock Fund Advisors now owns 1,829,070 shares of the company’s stock worth $361,113,000 after buying an additional 105,881 shares in the last quarter. BlackRock Group LTD increased its position in Everest Re Group by 1.2% in the first quarter. BlackRock Group LTD now owns 400,912 shares of the company’s stock worth $79,152,000 after buying an additional 4,634 shares in the last quarter. BlackRock Inc. increased its position in Everest Re Group by 3.5% in the first quarter. BlackRock Inc. now owns 104,537 shares of the company’s stock worth $20,640,000 after buying an additional 3,557 shares in the last quarter. Teachers Advisors Inc. increased its position in Everest Re Group by 0.5% in the first quarter. Teachers Advisors Inc. now owns 180,337 shares of the company’s stock worth $35,604,000 after buying an additional 871 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. increased its position in Everest Re Group by 29.4% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 204,099 shares of the company’s stock worth $40,295,000 after buying an additional 46,345 shares in the last quarter. 92.11% of the stock is currently owned by institutional investors.
In other Everest Re Group news, VP John P. Doucette sold 1,840 shares of the stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $189.84, for a total transaction of $349,305.60. Following the transaction, the vice president now owns 23,265 shares of the company’s stock, valued at approximately $4,416,627.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director John R. Dunne sold 200 shares of the stock in a transaction that occurred on Tuesday, September 13th. The stock was sold at an average price of $190.03, for a total value of $38,006.00. Following the transaction, the director now directly owns 10,579 shares in the company, valued at approximately $2,010,327.37. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 21st. Shareholders of record on Wednesday, September 7th will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend is Friday, September 2nd. Everest Re Group’s dividend payout ratio is presently 25.66%.
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’s segments include U.S. Reinsurance segment, International segment, Bermuda segment, Insurance segment and Mt. Logan Re segment.
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