Press coverage about Everest Re Group (NYSE:RE) has been trending somewhat positive on Wednesday, according to AlphaOne. AlphaOne, a subsidiary of Accern, rates the sentiment of news coverage by reviewing more than twenty million blog and news sources. AlphaOne ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Everest Re Group earned a news sentiment score of 0.23 on AlphaOne’s scale. AlphaOne also assigned media headlines about the insurance provider an impact score of 92 out of 100, meaning that recent news coverage is extremely likely to have an effect on the stock’s share price in the next few days.
Here are some of the news stories that may have impacted Alpha One Sentiment Analysis’s analysis:
- 25.9% Return Seen to Date on SmarTrend Everest Re Group Call (RE) (mysmartrend.com)
- Double hit for insurers and reinsurers (royalgazette.com)
- Everest Re Group Ltd (RE) Given Consensus Recommendation of “Hold” by Analysts (americanbankingnews.com)
- Everest Launches Cyber Protection for Private Equity Firms, Portfolio Companies (insurancejournal.com)
Several equities research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Everest Re Group from a “hold” rating to a “buy” rating and set a $263.00 target price on the stock in a report on Tuesday, April 18th. Deutsche Bank AG reiterated a “buy” rating and issued a $262.00 target price (up from $240.00) on shares of Everest Re Group in a report on Saturday, April 29th. Barclays PLC increased their target price on shares of Everest Re Group from $269.00 to $299.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 25th. Wells Fargo & Co reiterated a “hold” rating on shares of Everest Re Group in a report on Monday, April 24th. Finally, Macquarie lowered shares of Everest Re Group from a “neutral” rating to an “underperform” rating and set a $186.00 price objective on the stock. in a report on Tuesday, January 17th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $234.83.
Everest Re Group (NYSE:RE) opened at 244.54 on Wednesday. Everest Re Group has a 52-week low of $169.19 and a 52-week high of $258.30. The company has a market cap of $10.04 billion, a P/E ratio of 9.11 and a beta of 0.49. The company has a 50-day moving average of $240.42 and a 200-day moving average of $226.08.
Everest Re Group (NYSE:RE) last posted its quarterly earnings results on Monday, April 24th. The insurance provider reported $6.29 EPS for the quarter, topping the consensus estimate of $5.35 by $0.94. The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.41 billion. Everest Re Group had a net margin of 17.19% and a return on equity of 12.44%. During the same period last year, the firm posted $5.19 earnings per share. On average, equities research analysts expect that Everest Re Group will post $20.49 earnings per share for the current fiscal year.
In other news, Director John R. Dunne sold 500 shares of the firm’s stock in a transaction that occurred on Monday, March 20th. The shares were sold at an average price of $234.75, for a total value of $117,375.00. Following the transaction, the director now owns 12,079 shares in the company, valued at $2,835,545.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP John P. Doucette sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 27th. The stock was sold at an average price of $256.03, for a total transaction of $256,030.00. Following the completion of the transaction, the vice president now owns 21,834 shares in the company, valued at approximately $5,590,159.02. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.
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About Everest Re Group
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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