Everest Group (NYSE:EG) Stock Rating Upgraded by Wolfe Research

Everest Group (NYSE:EG) was upgraded by investment analysts at Wolfe Research to a “strong sell” rating in a note issued to investors on Tuesday,Zacks.com reports.

Several other equities research analysts have also recently commented on the company. Cantor Fitzgerald raised Everest Group to a “hold” rating in a research note on Wednesday, August 13th. Wells Fargo & Company reaffirmed a “mixed” rating on shares of Everest Group in a research report on Monday, August 4th. UBS Group lowered their price objective on shares of Everest Group from $372.00 to $370.00 and set a “neutral” rating for the company in a research note on Wednesday, July 9th. 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 note on Monday, May 19th. Finally, Citigroup assumed coverage on shares of Everest Group in a report on Wednesday, August 13th. They issued a “neutral” rating and a $362.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Everest Group currently has a consensus rating of “Hold” and a consensus price target of $389.80.

Everest Group Trading Up 1.0%

EG opened at $333.77 on Tuesday. Everest Group has a twelve month low of $320.00 and a twelve month high of $407.30. The company has a fifty day moving average of $336.89 and a 200-day moving average of $343.73. The stock has a market cap of $14.00 billion, a PE ratio of 17.72, a price-to-earnings-growth ratio of 0.24 and a beta of 0.51. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.24.

Everest Group (NYSE:EG) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $17.36 EPS for the quarter, beating analysts’ consensus estimates of $15.14 by $2.22. Everest Group had a net margin of 4.56% and a return on equity of 5.89%. The business had revenue of $4.49 billion for the quarter, compared to analysts’ expectations of $4.22 billion. During the same quarter in the prior year, the firm posted $16.85 earnings per share. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. On average, sell-side analysts predict that Everest Group will post 47.93 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of EG. Osaic Holdings Inc. increased its position in shares of Everest Group by 1,863.2% during the 2nd quarter. Osaic Holdings Inc. now owns 25,208 shares of the company’s stock valued at $9,137,000 after purchasing an additional 23,924 shares during the last quarter. Orion Porfolio Solutions LLC grew its position in Everest Group by 12.3% during the second quarter. Orion Porfolio Solutions LLC now owns 4,019 shares of the company’s stock valued at $1,366,000 after buying an additional 441 shares during the period. State of Wyoming grew its position in Everest Group by 148.7% during the second quarter. State of Wyoming now owns 694 shares of the company’s stock valued at $236,000 after buying an additional 415 shares during the period. CYBER HORNET ETFs LLC purchased a new stake in Everest Group during the second quarter worth about $39,000. Finally, CANADA LIFE ASSURANCE Co raised its position in Everest Group by 2.0% in the second quarter. CANADA LIFE ASSURANCE Co now owns 42,988 shares of the company’s stock worth $14,633,000 after acquiring an additional 845 shares during the period. Institutional investors own 92.64% of the company’s stock.

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.