Everest Group (NYSE:EG) PT Lowered to $450.00 at Morgan Stanley

Everest Group (NYSE:EG) had its target price decreased by Morgan Stanley from $466.00 to $450.00 in a report released on Monday morning, Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

Other analysts have also issued reports about the company. TD Cowen assumed coverage on Everest Group in a report on Wednesday, January 10th. They set a market perform rating and a $421.00 target price on the stock. Keefe, Bruyette & Woods raised their target price on Everest Group from $445.00 to $457.00 and gave the stock an outperform rating in a report on Wednesday, April 10th. Wells Fargo & Company dropped their target price on Everest Group from $402.00 to $397.00 and set an equal weight rating on the stock in a report on Thursday, April 11th. Finally, Citigroup lowered Everest Group from a buy rating to a neutral rating and dropped their price objective for the company from $452.00 to $375.00 in a report on Monday, February 12th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Everest Group presently has a consensus rating of Moderate Buy and a consensus price target of $432.11.

Everest Group Trading Down 0.6 %

Shares of NYSE:EG opened at $359.53 on Monday. Everest Group has a 52-week low of $331.08 and a 52-week high of $417.92. The stock has a market cap of $15.60 billion, a price-to-earnings ratio of 6.02, a PEG ratio of 3.19 and a beta of 0.56. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.26. The business has a 50-day moving average price of $376.46 and a 200-day moving average price of $380.58.

Everest Group (NYSE:EG) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $25.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $14.63 by $10.55. The firm had revenue of $3.66 billion during the quarter, compared to analysts’ expectations of $3.85 billion. Everest Group had a return on equity of 25.05% and a net margin of 17.26%. The company’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period last year, the business posted $12.21 earnings per share. Equities analysts predict that Everest Group will post 61.21 EPS for the current year.

Everest Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Tuesday, March 19th were paid a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend was Monday, March 18th. Everest Group’s dividend payout ratio is presently 11.72%.

Insider Transactions at Everest Group

In other news, COO James Allan Williamson purchased 700 shares of the stock in a transaction dated Friday, February 9th. The shares were purchased at an average cost of $352.50 per share, with a total value of $246,750.00. Following the completion of the purchase, the chief operating officer now directly owns 11,749 shares of the company’s stock, valued at approximately $4,141,522.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, COO James Allan Williamson purchased 700 shares of the stock in a transaction dated Friday, February 9th. The shares were purchased at an average cost of $352.50 per share, with a total value of $246,750.00. Following the completion of the purchase, the chief operating officer now directly owns 11,749 shares of the company’s stock, valued at approximately $4,141,522.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Roger M. Singer acquired 500 shares of Everest Group stock in a transaction that occurred on Monday, February 12th. The shares were bought at an average price of $357.21 per share, for a total transaction of $178,605.00. Following the transaction, the director now owns 16,920 shares of the company’s stock, valued at approximately $6,043,993.20. The disclosure for this purchase can be found here. Insiders have bought 2,485 shares of company stock valued at $874,786 over the last ninety days. Insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Everest Group

Institutional investors have recently added to or reduced their stakes in the stock. Allworth Financial LP purchased a new position in Everest Group during the fourth quarter worth approximately $25,000. Avior Wealth Management LLC purchased a new position in Everest Group during the fourth quarter worth approximately $25,000. Headlands Technologies LLC purchased a new position in Everest Group during the fourth quarter worth approximately $25,000. Janiczek Wealth Management LLC purchased a new stake in Everest Group in the fourth quarter valued at $27,000. Finally, Trifecta Capital Advisors LLC purchased a new stake in Everest Group in the fourth quarter valued at $28,000. Hedge funds and other 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.