Everest Group (NYSE:EG) Price Target Raised to $470.00

Everest Group (NYSE:EG) had its price objective raised by Barclays from $461.00 to $470.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other analysts have also recently commented on EG. Wells Fargo & Company reduced their target price on shares of Everest Group from $390.00 to $380.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. Keefe, Bruyette & Woods upped their target price on shares of Everest Group from $420.00 to $434.00 and gave the company an “outperform” rating in a report on Friday, January 10th. Bank of America reduced their target price on shares of Everest Group from $496.00 to $485.00 and set a “buy” rating for the company in a report on Thursday, October 10th. UBS Group raised shares of Everest Group to a “hold” rating in a report on Wednesday, October 9th. Finally, BMO Capital Markets cut shares of Everest Group from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $453.00 to $375.00 in a report on Thursday, January 30th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Everest Group currently has a consensus rating of “Hold” and a consensus target price of $411.89.

Everest Group Stock Down 1.1 %

EG opened at $336.05 on Tuesday. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.22. The firm has a 50 day moving average price of $361.48 and a 200-day moving average price of $373.87. Everest Group has a twelve month low of $335.34 and a twelve month high of $407.30. The stock has a market capitalization of $14.44 billion, a price-to-earnings ratio of 5.26, a PEG ratio of 2.50 and a beta of 0.65.

Everest Group (NYSE:EG) last released its quarterly earnings data on Monday, February 3rd. The company reported ($18.39) earnings per share for the quarter, missing the consensus estimate of $11.64 by ($30.03). Everest Group had a net margin of 16.99% and a return on equity of 22.45%. Equities research analysts forecast that Everest Group will post 36.3 earnings per share for the current year.

Insiders Place Their Bets

In related news, COO James Allan Williamson sold 200 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $370.00, for a total transaction of $74,000.00. Following the completion of the transaction, the chief operating officer now owns 15,009 shares in the company, valued at approximately $5,553,330. This represents a 1.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Everest Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Raymond James Financial Inc. bought a new position in shares of Everest Group during the fourth quarter worth $48,290,000. Arizona State Retirement System boosted its position in shares of Everest Group by 0.9% during the fourth quarter. Arizona State Retirement System now owns 12,569 shares of the company’s stock worth $4,556,000 after acquiring an additional 118 shares during the last quarter. Verdence Capital Advisors LLC boosted its position in shares of Everest Group by 7.8% during the fourth quarter. Verdence Capital Advisors LLC now owns 1,069 shares of the company’s stock worth $388,000 after acquiring an additional 77 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of Everest Group during the fourth quarter worth $10,247,000. Finally, Atria Investments Inc bought a new position in shares of Everest Group during the fourth quarter worth $581,000. Institutional investors own 92.64% of the company’s stock.

Everest Group Company Profile

Everest Group, Ltd., through its subsidiaries, provides reinsurance and insurance products in the United States, Europe, and internationally. The company operates through two segment, Insurance and Reinsurance. The Reinsurance 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.