Cantor Fitzgerald Upgrades Everest Group (NYSE:EG) to Hold

Everest Group (NYSE:EG) was upgraded by stock analysts at Cantor Fitzgerald to a “hold” rating in a research report issued on Wednesday,Zacks.com reports.

Several other research firms have also commented on EG. Keefe, Bruyette & Woods upped their target price on Everest Group from $405.00 to $416.00 and gave the company an “outperform” rating in a report on Wednesday, August 6th. UBS Group lowered their target price on Everest Group from $372.00 to $370.00 and set a “neutral” rating for the company in a report on Wednesday, July 9th. Barclays upped their target price on Everest Group from $394.00 to $398.00 and gave the company an “overweight” rating in a report on Monday, July 7th. Janney Montgomery Scott assumed coverage on Everest Group in a research report on Friday, June 20th. They set a “buy” rating and a $425.00 price objective for the company. Finally, Evercore ISI decreased their price objective on Everest Group from $400.00 to $396.00 and set an “in-line” rating for the company in a report on Thursday, May 1st. Seven investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $397.14.

Everest Group Stock Up 0.0%

Shares of Everest Group stock opened at $336.88 on Wednesday. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.24. The firm has a market cap of $14.13 billion, a P/E ratio of 17.88, a P/E/G ratio of 0.25 and a beta of 0.50. Everest Group has a fifty-two week low of $320.00 and a fifty-two week high of $407.30. The business has a 50-day moving average price of $335.35 and a 200 day moving average price of $343.85.

Everest Group (NYSE:EG) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $17.36 earnings per share for the quarter, beating the consensus estimate of $15.14 by $2.22. The firm had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.22 billion. Everest Group had a return on equity of 5.89% and a net margin of 4.56%. Everest Group’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the company earned $16.85 earnings per share. On average, sell-side analysts forecast that Everest Group will post 47.93 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO James Allan Williamson acquired 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 11th. The stock was acquired at an average cost of $337.97 per share, for a total transaction of $337,970.00. Following the completion of the acquisition, the chief executive officer owned 25,618 shares in the company, valued at approximately $8,658,115.46. The trade was a 4.06% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Everest Group

Several institutional investors have recently bought and sold shares of the stock. Flagship Harbor Advisors LLC raised its holdings in Everest Group by 3.7% during the first quarter. Flagship Harbor Advisors LLC now owns 843 shares of the company’s stock valued at $306,000 after buying an additional 30 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. increased its stake in shares of Everest Group by 3.0% in the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 1,025 shares of the company’s stock worth $372,000 after purchasing an additional 30 shares during the period. Legacy Advisors LLC increased its stake in shares of Everest Group by 5.5% in the first quarter. Legacy Advisors LLC now owns 599 shares of the company’s stock worth $218,000 after purchasing an additional 31 shares during the period. Farther Finance Advisors LLC increased its stake in shares of Everest Group by 4.3% in the second quarter. Farther Finance Advisors LLC now owns 816 shares of the company’s stock worth $277,000 after purchasing an additional 34 shares during the period. Finally, Nissay Asset Management Corp Japan ADV increased its stake in shares of Everest Group by 0.7% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 5,315 shares of the company’s stock worth $1,913,000 after purchasing an additional 36 shares during the period. 92.64% of the stock is currently 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.