Everest Re Group (RE) Hits New Lifetime High

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer.

Trade-Ideas LLC identified Everest Re Group ( RE) as a new lifetime high candidate. In addition to specific proprietary factors, Trade-Ideas identified Everest Re Group as such a stock due to the following factors:

  • RE has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $44.8 million.
  • RE has traded 2,098 shares today.
  • RE is trading at a new lifetime high.

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More details on RE:

Everest Re Group, Ltd., through its subsidiaries, provides reinsurance and insurance products. The company operates through U.S. Reinsurance, International, Bermuda, Insurance, and Mt. Logan Re segments. The U.S. The stock currently has a dividend yield of 2.1%. RE has a PE ratio of 7. Currently there are 2 analysts that rate Everest Re Group a buy, no analysts rate it a sell, and 7 rate it a hold.

The average volume for Everest Re Group has been 280,900 shares per day over the past 30 days. Everest Re Group has a market cap of $8.2 billion and is part of the financial sector and insurance industry. The stock has a beta of 0.73 and a short float of 5.2% with 8.61 days to cover. Shares are up 9% year-to-date as of the close of trading on Monday.

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TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates Everest Re Group as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, increase in net income and good cash flow from operations. We feel its strengths outweigh the fact that the company shows low profit margins.

Highlights from the ratings report include:
  • The revenue growth came in higher than the industry average of 9.5%. Since the same quarter one year prior, revenues rose by 13.4%. Growth in the company's revenue appears to have helped boost the earnings per share.
  • RE's debt-to-equity ratio is very low at 0.08 and is currently below that of the industry average, implying that there has been very successful management of debt levels.
  • The stock has not only risen over the past year, it has done so at a faster pace than the S&P 500, reflecting the earnings growth and other positive factors similar to those we have cited here. Turning our attention to the future direction of the stock, it goes without saying that even the best stocks can fall in an overall down market. However, in any other environment, this stock still has good upside potential despite the fact that it has already risen in the past year.
  • The net income growth from the same quarter one year ago has greatly exceeded that of the S&P 500, but is less than that of the Insurance industry average. The net income increased by 9.9% when compared to the same quarter one year prior, going from $293.93 million to $322.98 million.
  • Net operating cash flow has increased to $455.14 million or 23.98% when compared to the same quarter last year. In addition, EVEREST RE GROUP LTD has also modestly surpassed the industry average cash flow growth rate of 21.66%.

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