Everest Re Group (RE) Scheduled to Post Earnings on Monday

Defense World · Apr 24, 2023 13:42

Everest Re Group (NYSE:RE – Get Rating) is scheduled to post its quarterly earnings results after the market closes on Monday, May 1st. Analysts expect Everest Re Group to post earnings of $12.96 per share for the quarter. Individual that are interested in registering for the company's earnings conference call can do so using this link.

Everest Re Group (NYSE:RE – Get Rating) last released its quarterly earnings data on Wednesday, February 8th. The insurance provider reported $12.21 earnings per share for the quarter, beating analysts' consensus estimates of $9.29 by $2.92. Everest Re Group had a net margin of 4.96% and a return on equity of 12.36%. The business had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.24 billion. During the same period in the previous year, the business earned $9.12 EPS. Everest Re Group's revenue was up 4.3% compared to the same quarter last year. On average, analysts expect Everest Re Group to post $44 EPS for the current fiscal year and $54 EPS for the next fiscal year.

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Everest Re Group Stock Down 1.3 %

Everest Re Group stock opened at $370.62 on Monday. The firm has a 50 day simple moving average of $366.84 and a 200 day simple moving average of $340.18. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.37. Everest Re Group has a 1-year low of $244.57 and a 1-year high of $394.99. The firm has a market capitalization of $16.34 billion, a price-to-earnings ratio of 24.53, a P/E/G ratio of 0.27 and a beta of 0.60.

Everest Re Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 30th. Shareholders of record on Thursday, March 16th were issued a $1.65 dividend. This represents a $6.60 annualized dividend and a yield of 1.78%. The ex-dividend date was Wednesday, March 15th. Everest Re Group's payout ratio is 43.68%.

Hedge Funds Weigh In On Everest Re Group

A number of large investors have recently added to or reduced their stakes in the business. Bridgefront Capital LLC increased its position in shares of Everest Re Group by 9.4% in the fourth quarter. Bridgefront Capital LLC now owns 860 shares of the insurance provider's stock valued at $285,000 after acquiring an additional 74 shares during the period. Cetera Advisor Networks LLC purchased a new position in shares of Everest Re Group in the fourth quarter valued at about $274,000. Mutual Advisors LLC purchased a new position in shares of Everest Re Group in the second quarter valued at about $263,000. CENTRAL TRUST Co increased its position in shares of Everest Re Group by 39.8% in the third quarter. CENTRAL TRUST Co now owns 952 shares of the insurance provider's stock valued at $250,000 after acquiring an additional 271 shares during the period. Finally, Cetera Investment Advisers purchased a new position in shares of Everest Re Group in the first quarter valued at about $245,000. Hedge funds and other institutional investors own 92.38% of the company's stock.

Analysts Set New Price Targets

RE has been the subject of several analyst reports. StockNews.com initiated coverage on shares of Everest Re Group in a report on Thursday, March 16th. They issued a "buy" rating for the company. BMO Capital Markets started coverage on shares of Everest Re Group in a report on Thursday, January 19th. They set a "market perform" rating and a $380.00 price objective for the company. Jefferies Financial Group lifted their price objective on shares of Everest Re Group from $455.00 to $468.00 and gave the stock a "buy" rating in a report on Monday, April 10th. Wells Fargo & Company lifted their price objective on shares of Everest Re Group from $408.00 to $426.00 and gave the stock an "overweight" rating in a report on Friday, February 10th. Finally, Raymond James lifted their price objective on shares of Everest Re Group from $385.00 to $415.00 and gave the stock an "outperform" rating in a report on Monday, February 13th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $406.80.

Everest Re Group Company Profile

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Everest Re Group Ltd. is a holding company, which engages in the provision of reinsurance and insurance services. It operates through the following segments: Reinsurance, and Insurance. The Reinsurance segment writes property and casualty reinsurance and specialty lines of business, including marine, aviation, surety, and accident and health business, on both a treaty and facultative basis, through reinsurance brokers, as well as directly with ceding companies primarily within the U.S.