Price Action Report: What’s Everest Re Group Ltd Upside After Reaching 52-Week High?

Price Action Report: What's Everest Re Group Ltd Upside After Reaching 52 Week High?

The stock of Everest Re Group Ltd (NYSE:RE) hit a new 52-week high and has $278.78 target or 37.00% above today’s $203.49 share price. The 9 months bullish chart indicates low risk for the $8.54 billion company. The 1-year high was reported on Nov, 2 by If the $278.78 price target is reached, the company will be worth $3.16B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 139,343 shares traded hands. Everest Re Group Ltd (NYSE:RE) has risen 3.25% since March 31, 2016 and is uptrending. It has outperformed by 0.72% the S&P500.

Everest Re Group Ltd (NYSE:RE) Ratings Coverage

Out of 2 analysts covering Everest Re Group Ltd (NYSE:RE), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Everest Re Group Ltd has been the topic of 4 analyst reports since July 30, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating by Deutsche Bank given on Thursday, May 12. The company was maintained on Tuesday, October 25 by Barclays Capital.

According to Zacks Investment Research, “Everest Re Group, Ltd. is a world leader in property and casualty reinsurance and insurance, offering innovative products, responsive service and unsurpassed financial strength. Everest Reinsurance Co. underwrites virtually all classes and categories of business in treaty, facultative and specialty lines, both through brokers and directly with ceding companies. Primary insurance products and services are available through several subsidiary operations.”

Insitutional Activity: The institutional sentiment increased to 0.92 in Q2 2016. Its up 0.04, from 0.88 in 2016Q1. The ratio increased, as 32 funds sold all Everest Re Group Ltd shares owned while 145 reduced positions. 40 funds bought stakes while 123 increased positions. They now own 37.89 million shares or 2.66% less from 38.92 million shares in 2016Q1.
Pnc Finance Services Group holds 8,120 shares or 0% of its portfolio. Teachers Advsr Inc accumulated 173,352 shares or 0.06% of the stock. Daiwa Secs Group Incorporated Incorporated reported 4,500 shares or 0% of all its holdings. Origin Asset Llp has 2,940 shares for 0.04% of their US portfolio. Moreover, Bb&T Limited Liability Company has 0.03% invested in Everest Re Group Ltd (NYSE:RE) for 9,557 shares. British Columbia Invest Mngmt Corporation has 22,269 shares for 0.04% of their US portfolio. Credit Agricole S A, a France-based fund reported 30,042 shares. State Board Of Administration Of Florida Retirement Systems accumulated 0.03% or 59,058 shares. Deere & has 0.05% invested in the company for 4,685 shares. One Association holds 5,018 shares or 0.08% of its portfolio. Commerzbank Aktiengesellschaft Fi owns 2,344 shares or 0% of their US portfolio. Amp Capital Invsts accumulated 40,410 shares or 0.05% of the stock. The Connecticut-based Trexquant Invest Limited Partnership has invested 0.03% in Everest Re Group Ltd (NYSE:RE). First Fincl In owns 1,485 shares or 0.16% of their US portfolio. Campbell & Inv Adviser Ltd Liability accumulated 2.57% or 2,784 shares.

Insider Transactions: Since August 3, 2016, the stock had 1 buy, and 2 selling transactions for $377,522 net activity. DUNNE JOHN R also sold $38,006 worth of Everest Re Group Ltd (NYSE:RE) on Tuesday, September 13. Doucette John P also sold $349,300 worth of Everest Re Group Ltd (NYSE:RE) shares. $9,784 worth of Everest Re Group Ltd (NYSE:RE) was bought by WEBER JOHN A.

More notable recent Everest Re Group Ltd (NYSE:RE) news were published by: which released: “Everest Re Group Announces Strategic Alliance with CGB Diversified Services …” on July 25, 2016, also with their article: “Everest Re Group Ltd.’s Premiums Decline in Q1” published on April 26, 2016, published: “Marty Scherzer Joins Everest Re Group to Head its Structured Solutions Unit” on June 14, 2016. More interesting news about Everest Re Group Ltd (NYSE:RE) were released by: and their article: “Everest RE Group Ltd. Earnings Rise on Higher Premium Sales” published on February 05, 2016 as well as‘s news article titled: “Everest Re Group Ltd. Earnings Analysis: Q2 2016 By The Numbers” with publication date: August 02, 2016.

RE Company Profile

Everest Re Group, Ltd., incorporated on August 26, 1999, through its subsidiaries, is engaged in the underwriting of reinsurance and insurance in the United States, Bermuda and international markets. The Firm operates in divisions: U.S. Reinsurance, International, Bermuda, Insurance segment and Mt. Logan Re. The Firm underwrites reinsurance both through brokers and directly with ceding companies. The Firm underwrites insurance principally through general agent relationships, brokers and surplus lines brokers. The Firm offers treaty and facultative reinsurance, and admitted and non-admitted insurance. The Company’s products include the range of property and casualty reinsurance, and insurance coverage’s, including marine, aviation, surety, errors and omissions liability (E&O), directors’ and officers’ liability (D&O), medical malpractice, other specialty lines, accident and health (A&H) and workers’ compensation. The Company’s subsidiaries include Everest Reinsurance (Bermuda), Ltd. (Bermuda Re), Everest International Reinsurance, Ltd., Mt. Logan Re Ltd. (Mt. Logan Re), Everest Reinsurance Company (Ireland) Limited (Ireland Re), Everest Reinsurance Company (Everest Re), Everest Insurance Company of Canada, Everest National Insurance Company, Everest Indemnity Insurance Company and Everest Security Insurance Company.

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