Brokerages Set Everest Group, Ltd. (NYSE:EG) Price Target at $398.09

Shares of Everest Group, Ltd. (NYSE:EG) have earned an average rating of “Moderate Buy” from the eleven research firms that are presently covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $398.09.

Several equities research analysts recently weighed in on the stock. Keefe, Bruyette & Woods reduced their target price on shares of Everest Group from $434.00 to $402.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. Raymond James reaffirmed a “strong-buy” rating and issued a $410.00 price objective (down from $420.00) on shares of Everest Group in a research report on Tuesday, May 6th. Jefferies Financial Group upgraded Everest Group from a “hold” rating to a “buy” rating and upped their target price for the stock from $376.00 to $415.00 in a report on Friday, April 11th. Evercore ISI reduced their price objective on shares of Everest Group from $400.00 to $396.00 and set an “in-line” rating for the company in a research report on Thursday, May 1st. Finally, Morgan Stanley increased their target price on shares of Everest Group from $330.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Monday, May 19th.

Insider Activity at Everest Group

In related news, Director Geraldine Losquadro sold 1,500 shares of Everest Group stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $360.63, for a total transaction of $540,945.00. Following the transaction, the director now owns 12,279 shares in the company, valued at approximately $4,428,175.77. This trade represents a 10.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO James Allan Williamson bought 1,000 shares of the firm’s stock in a transaction on Wednesday, June 11th. The stock was purchased at an average price of $337.97 per share, for a total transaction of $337,970.00. Following the completion of the acquisition, the chief executive officer now directly owns 25,618 shares in the company, valued at $8,658,115.46. The trade was a 4.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Everest Group

A number of institutional investors and hedge funds have recently made changes to their positions in EG. Flagship Harbor Advisors LLC grew its stake in shares of Everest Group by 3.7% in the first quarter. Flagship Harbor Advisors LLC now owns 843 shares of the company’s stock worth $306,000 after acquiring an additional 30 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. raised its holdings in shares of Everest Group by 3.0% in the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 1,025 shares of the company’s stock valued at $372,000 after purchasing an additional 30 shares in the last quarter. Legacy Advisors LLC lifted its position in shares of Everest Group by 5.5% during the 1st quarter. Legacy Advisors LLC now owns 599 shares of the company’s stock worth $218,000 after purchasing an additional 31 shares during the last quarter. Wilmington Savings Fund Society FSB raised its stake in Everest Group by 19.6% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 195 shares of the company’s stock valued at $71,000 after buying an additional 32 shares in the last quarter. Finally, Lester Murray Antman dba SimplyRich boosted its position in shares of Everest Group by 2.7% during the 4th quarter. Lester Murray Antman dba SimplyRich now owns 1,328 shares of the company’s stock worth $481,000 after acquiring an additional 35 shares in the last quarter. 92.64% of the stock is owned by hedge funds and other institutional investors.

Everest Group Stock Down 1.5%

Shares of NYSE EG opened at $334.74 on Thursday. Everest Group has a 12-month low of $320.00 and a 12-month high of $407.30. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.26. The company has a market cap of $14.24 billion, a P/E ratio of 10.66, a P/E/G ratio of 0.24 and a beta of 0.53. The stock has a fifty day moving average price of $345.89 and a 200 day moving average price of $352.81.

Everest Group (NYSE:EG) last released its quarterly earnings data on Wednesday, April 30th. The company reported $6.45 earnings per share for the quarter, missing analysts’ consensus estimates of $7.46 by ($1.01). The firm had revenue of $4.26 billion during the quarter, compared to analyst estimates of $3.89 billion. Everest Group had a return on equity of 9.04% and a net margin of 7.95%. The firm’s revenue was up 3.1% on a year-over-year basis. During the same period last year, the business earned $16.32 EPS. Research analysts anticipate that Everest Group will post 47.93 EPS for the current fiscal year.

Everest Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Wednesday, May 28th were issued a $2.00 dividend. The ex-dividend date was Wednesday, May 28th. This represents a $8.00 dividend on an annualized basis and a yield of 2.39%. Everest Group’s dividend payout ratio is presently 41.15%.

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.