Everest Re Group, Ltd. (NYSE:RE) Expected to Post Q4 2022 Earnings of $10.40 Per Share

Everest Re Group, Ltd. (NYSE:REGet Rating) – Analysts at Jefferies Financial Group upped their Q4 2022 earnings per share estimates for shares of Everest Re Group in a research report issued on Monday, April 11th. Jefferies Financial Group analyst Y. Kinar now expects that the insurance provider will earn $10.40 per share for the quarter, up from their previous forecast of $9.84. Jefferies Financial Group also issued estimates for Everest Re Group’s FY2024 earnings at $47.20 EPS.

Several other equities analysts have also recently issued reports on RE. Wells Fargo & Company upped their target price on shares of Everest Re Group from $310.00 to $330.00 in a research note on Friday, February 11th. Morgan Stanley upped their price target on shares of Everest Re Group from $331.00 to $340.00 and gave the company an “overweight” rating in a research report on Tuesday, February 15th. Zacks Investment Research lowered shares of Everest Re Group from a “buy” rating to a “hold” rating and set a $300.00 price target for the company. in a research report on Thursday, March 17th. Finally, StockNews.com initiated coverage on shares of Everest Re Group in a research report on Thursday, March 31st. They set a “buy” rating for the company. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $317.50.

RE opened at $289.92 on Tuesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.33 and a current ratio of 0.33. The stock has a market capitalization of $11.39 billion, a P/E ratio of 8.40, a P/E/G ratio of 0.88 and a beta of 0.61. The company’s 50-day simple moving average is $291.49 and its two-hundred day simple moving average is $279.27. Everest Re Group has a 52-week low of $234.87 and a 52-week high of $308.20.

Everest Re Group (NYSE:REGet Rating) last posted its earnings results on Wednesday, February 9th. The insurance provider reported $9.12 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $9.23 by ($0.11). The company had revenue of $3 billion for the quarter, compared to the consensus estimate of $3 billion. Everest Re Group had a net margin of 11.62% and a return on equity of 11.48%. During the same quarter in the prior year, the company posted ($1.12) EPS.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 30th. Shareholders of record on Wednesday, March 16th were issued a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date was Tuesday, March 15th. Everest Re Group’s dividend payout ratio (DPR) is currently 17.96%.

In other news, VP Sanjoy Mukherjee sold 400 shares of the stock in a transaction that occurred on Thursday, March 24th. The stock was sold at an average price of $295.00, for a total transaction of $118,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William F. Galtney, Jr. sold 3,278 shares of the stock in a transaction that occurred on Friday, February 18th. The shares were sold at an average price of $305.67, for a total value of $1,001,986.26. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. lifted its position in shares of Everest Re Group by 18.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 236 shares of the insurance provider’s stock worth $64,000 after purchasing an additional 37 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Everest Re Group by 4.1% during the third quarter. Janney Montgomery Scott LLC now owns 1,061 shares of the insurance provider’s stock worth $266,000 after purchasing an additional 42 shares during the last quarter. Vestmark Advisory Solutions Inc. lifted its position in shares of Everest Re Group by 2.3% during the fourth quarter. Vestmark Advisory Solutions Inc. now owns 2,149 shares of the insurance provider’s stock worth $589,000 after purchasing an additional 49 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in shares of Everest Re Group by 2.3% during the fourth quarter. Daiwa Securities Group Inc. now owns 2,437 shares of the insurance provider’s stock worth $668,000 after purchasing an additional 54 shares during the last quarter. Finally, Kentucky Retirement Systems lifted its position in shares of Everest Re Group by 2.3% during the fourth quarter. Kentucky Retirement Systems now owns 2,410 shares of the insurance provider’s stock worth $660,000 after purchasing an additional 55 shares during the last quarter. Institutional investors own 92.73% of the company’s stock.

About Everest Re Group (Get Rating)

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

Receive News & Ratings for Everest Re Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Everest Re Group and related companies with MarketBeat.com's FREE daily email newsletter.