Research Analysts Issue Forecasts for Everest Re Group, Ltd.’s Q3 2022 Earnings (NYSE:RE)

Everest Re Group, Ltd. (NYSE:REGet Rating) – Investment analysts at Jefferies Financial Group increased their Q3 2022 earnings per share (EPS) estimates for Everest Re Group in a research report issued to clients and investors on Wednesday, May 4th. Jefferies Financial Group analyst Y. Kinar now anticipates that the insurance provider will earn $4.61 per share for the quarter, up from their prior estimate of $3.14. Jefferies Financial Group also issued estimates for Everest Re Group’s FY2022 earnings at $37.05 EPS.

Everest Re Group (NYSE:REGet Rating) last announced its quarterly earnings data on Wednesday, April 27th. The insurance provider reported $10.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.92 by $0.39. Everest Re Group had a return on equity of 12.97% and a net margin of 11.11%. During the same period in the prior year, the company posted $6.49 earnings per share.

Several other equities analysts also recently issued reports on the company. Wells Fargo & Company lifted their price objective on Everest Re Group from $310.00 to $330.00 in a research report on Friday, February 11th. StockNews.com cut Everest Re Group from a “buy” rating to a “hold” rating in a research note on Monday, May 2nd. Zacks Investment Research cut Everest Re Group from a “buy” rating to a “hold” rating and set a $300.00 target price for the company. in a research note on Thursday, March 17th. Finally, Morgan Stanley boosted their price target on Everest Re Group from $331.00 to $340.00 and gave the company an “overweight” rating in a report on Tuesday, February 15th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $317.50.

Shares of NYSE:RE opened at $287.32 on Monday. Everest Re Group has a 1-year low of $234.87 and a 1-year high of $308.20. The firm has a market capitalization of $14.13 billion, a PE ratio of 8.56, a PEG ratio of 0.86 and a beta of 0.64. The business’s 50 day moving average is $288.00 and its 200-day moving average is $282.04. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.32.

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 30th. Shareholders of record on Wednesday, March 16th were given a dividend of $1.55 per share. The ex-dividend date of this dividend was Tuesday, March 15th. This represents a $6.20 annualized dividend and a dividend yield of 2.16%. Everest Re Group’s dividend payout ratio is currently 18.47%.

In other news, Director William F. Galtney, Jr. sold 3,278 shares of the business’s stock in a transaction on Friday, February 18th. The shares were sold at an average price of $305.67, for a total transaction of $1,001,986.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Sanjoy Mukherjee sold 400 shares of the business’s stock in a transaction on Thursday, March 24th. The shares were sold at an average price of $295.00, for a total transaction of $118,000.00. The disclosure for this sale can be found here. 1.40% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the company. Achmea Investment Management B.V. purchased a new stake in Everest Re Group in the third quarter worth about $28,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. grew its position in Everest Re Group by 500.0% in the 1st quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. now owns 120 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 100 shares during the period. Spire Wealth Management bought a new stake in Everest Re Group in the 4th quarter worth approximately $36,000. Northwestern Mutual Wealth Management Co. grew its position in Everest Re Group by 18.6% in the 4th 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 period. Finally, Prospera Financial Services Inc purchased a new position in shares of Everest Re Group during the 1st quarter worth $100,000. 75.12% of the stock is owned by hedge funds and other institutional investors.

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.

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