Everest Group (NYSE:EG) Given New $517.00 Price Target at Barclays

Everest Group (NYSE:EG) had its price target cut by equities researchers at Barclays from $527.00 to $517.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price objective points to a potential upside of 47.31% from the company’s current price.

EG has been the subject of a number of other research reports. Morgan Stanley cut their price target on shares of Everest Group from $450.00 to $445.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. Keefe, Bruyette & Woods cut their target price on shares of Everest Group from $454.00 to $438.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. TD Cowen lowered their price target on Everest Group from $419.00 to $405.00 and set a “hold” rating on the stock in a research report on Tuesday, August 13th. UBS Group raised Everest Group to a “hold” rating in a research report on Wednesday, October 9th. Finally, Wells Fargo & Company boosted their target price on Everest Group from $393.00 to $406.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Five analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $438.36.

Everest Group Stock Performance

EG opened at $350.97 on Thursday. The business’s 50-day simple moving average is $386.85 and its 200 day simple moving average is $380.64. Everest Group has a 52-week low of $343.76 and a 52-week high of $417.92. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.38 and a current ratio of 0.38. The firm has a market capitalization of $15.11 billion, a PE ratio of 5.49, a PEG ratio of 2.67 and a beta of 0.61.

Everest Group (NYSE:EG) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $16.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $16.97 by ($0.12). Everest Group had a return on equity of 23.13% and a net margin of 16.99%. The company had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.32 billion. During the same quarter in the prior year, the company earned $15.21 EPS. The company’s revenue for the quarter was up 15.8% on a year-over-year basis. As a group, sell-side analysts expect that Everest Group will post 60.97 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. American National Bank bought a new position in Everest Group during the 2nd quarter worth $27,000. M&R Capital Management Inc. acquired a new stake in shares of Everest Group during the 3rd quarter worth approximately $29,000. Bruce G. Allen Investments LLC increased its stake in Everest Group by 200.0% in the third quarter. Bruce G. Allen Investments LLC now owns 78 shares of the company’s stock valued at $31,000 after acquiring an additional 52 shares during the last quarter. Eastern Bank bought a new stake in Everest Group during the third quarter worth $35,000. Finally, Massmutual Trust Co. FSB ADV increased its stake in shares of Everest Group by 36.9% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 115 shares of the company’s stock valued at $44,000 after purchasing an additional 31 shares during the last quarter. 92.64% of the stock is owned by institutional investors.

About Everest Group

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.