Everest Re Group Ltd (NYSE:RE) saw a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 1,210,000 shares, a growth of 13.1% from the September 30th total of 1,070,000 shares. Currently, 3.0% of the shares of the stock are short sold. Based on an average daily volume of 287,300 shares, the short-interest ratio is currently 4.2 days.
Several hedge funds have recently made changes to their positions in the company. 6 Meridian increased its holdings in Everest Re Group by 2.0% in the second quarter. 6 Meridian now owns 2,267 shares of the insurance provider’s stock worth $560,000 after purchasing an additional 45 shares in the last quarter. CSat Investment Advisory L.P. increased its holdings in Everest Re Group by 31.6% in the second quarter. CSat Investment Advisory L.P. now owns 200 shares of the insurance provider’s stock worth $50,000 after purchasing an additional 48 shares in the last quarter. Advisor Partners LLC increased its holdings in Everest Re Group by 3.9% in the third quarter. Advisor Partners LLC now owns 1,445 shares of the insurance provider’s stock worth $385,000 after purchasing an additional 54 shares in the last quarter. Retirement Systems of Alabama increased its holdings in Everest Re Group by 0.3% in the second quarter. Retirement Systems of Alabama now owns 18,996 shares of the insurance provider’s stock worth $4,695,000 after purchasing an additional 56 shares in the last quarter. Finally, Johnson Investment Counsel Inc. increased its holdings in Everest Re Group by 0.8% in the second quarter. Johnson Investment Counsel Inc. now owns 6,882 shares of the insurance provider’s stock worth $1,701,000 after purchasing an additional 58 shares in the last quarter. 91.99% of the stock is currently owned by hedge funds and other institutional investors.
RE has been the topic of a number of recent analyst reports. Barclays raised their price target on Everest Re Group from $300.00 to $317.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. ValuEngine lowered Everest Re Group from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Morgan Stanley reduced their price objective on Everest Re Group from $265.00 to $260.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Credit Suisse Group set a $256.00 price objective on Everest Re Group and gave the company a “hold” rating in a research note on Sunday, September 15th. Finally, Wells Fargo & Co reaffirmed a “hold” rating and issued a $250.00 price objective on shares of Everest Re Group in a research note on Monday, October 28th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Everest Re Group currently has a consensus rating of “Hold” and an average price target of $264.50.
NYSE:RE traded down $1.33 during trading hours on Friday, hitting $267.17. The company’s stock had a trading volume of 146,240 shares, compared to its average volume of 248,360. The stock has a fifty day simple moving average of $257.07 and a 200-day simple moving average of $251.53. The company has a market capitalization of $10.95 billion, a P/E ratio of 57.46, a PEG ratio of 1.19 and a beta of 0.24. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.35 and a quick ratio of 0.37. Everest Re Group has a twelve month low of $201.09 and a twelve month high of $270.09.
Everest Re Group (NYSE:RE) last released its quarterly earnings data on Monday, October 28th. The insurance provider reported $3.39 earnings per share for the quarter, beating the consensus estimate of $2.07 by $1.32. Everest Re Group had a return on equity of 5.90% and a net margin of 5.30%. The business had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period last year, the firm posted $4.09 earnings per share. Everest Re Group’s revenue was up 5.5% compared to the same quarter last year. On average, equities analysts predict that Everest Re Group will post 21.95 EPS for the current fiscal year.
Everest Re Group 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 four segments: U.S. Reinsurance, International, Bermuda, and Insurance. The U.S. Reinsurance segment writes property and casualty reinsurance; and specialty lines of business, including marine, aviation, surety, and accident and health insurance through reinsurance brokers, as well as directly with ceding companies in the United States.
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