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Everest Re Group (NYSE:RE) Sets New 1-Year Low at $247.38

Financial News Live ·  Sep 26, 2022 12:42

Everest Re Group, Ltd. (NYSE:RE – Get Rating) reached a new 52-week low during trading on Monday . The company traded as low as $247.38 and last traded at $251.08, with a volume of 2808 shares changing hands. The stock had previously closed at $255.12.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Jefferies Financial Group upped their target price on shares of Everest Re Group from $343.00 to $344.00 and gave the company a "buy" rating in a research report on Tuesday, July 12th. Morgan Stanley decreased their target price on shares of Everest Re Group from $340.00 to $320.00 and set an "overweight" rating on the stock in a research report on Friday, August 19th. Finally, StockNews.com raised shares of Everest Re Group from a "hold" rating to a "buy" rating in a research report on Saturday, July 23rd.

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Everest Re Group Price Performance

The firm has a market cap of $9.81 billion, a price-to-earnings ratio of 12.93, a PEG ratio of 0.70 and a beta of 0.52. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.35. The company's 50-day moving average price is $270.63 and its 200-day moving average price is $278.81.

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 (EPS) for the quarter, topping the consensus estimate of $9.31 by $0.48. The business had revenue of $2.92 billion for the quarter, compared to analysts' expectations of $3.01 billion. Everest Re Group had a net margin of 6.61% and a return on equity of 11.41%. The business's quarterly revenue was up 14.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $14.63 earnings per share. On average, equities research analysts forecast that Everest Re Group, Ltd. will post 33.25 EPS for the current year.

Everest Re Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Wednesday, August 24th were given a dividend of $1.65 per share. The ex-dividend date was Tuesday, August 23rd. This represents a $6.60 annualized dividend and a dividend yield of 2.65%. Everest Re Group's dividend payout ratio is presently 0.20%.

Insider Transactions at Everest Re Group

In related news, Director John A. Weber sold 3,000 shares of the company's stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $270.92, for a total transaction of $812,760.00. Following the sale, the director now directly owns 3,096 shares in the company, valued at $838,768.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.40% of the company's stock.

Institutional Trading of Everest Re Group

Large investors have recently made changes to their positions in the company. CIBC Asset Management Inc increased its stake in Everest Re Group by 1.0% in the first quarter. CIBC Asset Management Inc now owns 3,733 shares of the insurance provider's stock valued at $1,125,000 after purchasing an additional 36 shares during the last quarter. Veriti Management LLC increased its stake in Everest Re Group by 1.7% in the second quarter. Veriti Management LLC now owns 2,581 shares of the insurance provider's stock valued at $723,000 after purchasing an additional 44 shares during the last quarter. First Horizon Advisors Inc. increased its stake in Everest Re Group by 71.2% in the second quarter. First Horizon Advisors Inc. now owns 113 shares of the insurance provider's stock valued at $31,000 after purchasing an additional 47 shares during the last quarter. Ancora Advisors LLC increased its stake in Everest Re Group by 6.9% in the first quarter. Ancora Advisors LLC now owns 775 shares of the insurance provider's stock valued at $192,000 after purchasing an additional 50 shares during the last quarter. Finally, State of Michigan Retirement System increased its stake in Everest Re Group by 0.5% in the first quarter. State of Michigan Retirement System now owns 11,211 shares of the insurance provider's stock valued at $3,379,000 after purchasing an additional 52 shares during the last quarter. 92.35% of the stock is currently owned by hedge funds and other institutional investors.

About Everest Re Group

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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.

Further Reading

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