Everest Re Group Ltd (NYSE:RE)’s share price rose 1.1% on Wednesday . The stock traded as high as $243.00 and last traded at $245.02. Approximately 354,740 shares changed hands during mid-day trading, a decline of 11% from the average daily volume of 397,052 shares. The stock had previously closed at $242.32.
RE has been the topic of several recent research reports. Zacks Investment Research cut shares of Everest Re Group from a “hold” rating to a “sell” rating in a research report on Friday, October 13th. TheStreet cut shares of Everest Re Group from a “b” rating to a “c+” rating in a research report on Monday, December 18th. Wells Fargo & Co reaffirmed a “market perform” rating and issued a $235.00 price target (down previously from $240.00) on shares of Everest Re Group in a research report on Tuesday, January 9th. Barclays dropped their price target on shares of Everest Re Group from $305.00 to $280.00 and set an “overweight” rating on the stock in a research report on Monday, October 16th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $234.00 price target on shares of Everest Re Group in a research report on Wednesday, December 6th. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Everest Re Group currently has an average rating of “Hold” and a consensus target price of $252.88.
The company has a current ratio of 0.31, a quick ratio of 0.33 and a debt-to-equity ratio of 0.08. The firm has a market cap of $10,074.24, a P/E ratio of 27.88, a P/E/G ratio of 1.20 and a beta of 0.59.
In related news, Director John A. Graf purchased 2,285 shares of the firm’s stock in a transaction dated Monday, January 8th. The stock was bought at an average price of $219.07 per share, for a total transaction of $500,574.95. Following the purchase, the director now directly owns 5,550 shares in the company, valued at approximately $1,215,838.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William F. Galtney, Jr. purchased 6,000 shares of the firm’s stock in a transaction dated Monday, November 20th. The shares were bought at an average price of $225.29 per share, with a total value of $1,351,740.00. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 8,323 shares of company stock valued at $1,860,654. Company insiders own 1.30% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Valeo Financial Advisors LLC purchased a new stake in shares of Everest Re Group during the 3rd quarter worth approximately $137,000. Cerebellum GP LLC purchased a new stake in shares of Everest Re Group during the 4th quarter worth approximately $133,000. Diversified Trust Co purchased a new stake in shares of Everest Re Group during the 4th quarter worth approximately $201,000. Harbor Advisors LLC purchased a new stake in shares of Everest Re Group during the 3rd quarter worth approximately $228,000. Finally, Oppenheimer Asset Management Inc. purchased a new stake in shares of Everest Re Group during the 3rd quarter worth approximately $228,000. Institutional investors own 90.08% of the company’s stock.
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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 operates in segments: U.S. Reinsurance, International, Bermuda and Insurance segment. The Company underwrites reinsurance both through brokers and directly with ceding companies.
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