Everest Group (NYSE:EG) Price Target Lowered to $365.00 at TD Cowen

Everest Group (NYSE:EG) had its price target reduced by TD Cowen from $400.00 to $365.00 in a report issued on Monday morning,Benzinga reports. TD Cowen currently has a hold rating on the stock.

A number of other equities research analysts have also recently commented on the stock. Keefe, Bruyette & Woods lowered their price objective on shares of Everest Group from $424.00 to $400.00 and set an “outperform” rating on the stock in a research note on Thursday, October 30th. Cowen restated a “hold” rating on shares of Everest Group in a report on Tuesday, October 7th. Evercore ISI raised their price objective on Everest Group from $380.00 to $384.00 and gave the stock an “in-line” rating in a report on Wednesday, October 1st. Wolfe Research raised shares of Everest Group from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, October 29th. Finally, Raymond James Financial restated an “outperform” rating and issued a $350.00 price objective on shares of Everest Group in a report on Monday, November 3rd. Five analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $367.87.

Everest Group Stock Performance

EG opened at $328.50 on Monday. Everest Group has a 1-year low of $302.44 and a 1-year high of $373.23. The stock has a market cap of $13.79 billion, a P/E ratio of 25.02, a P/E/G ratio of 0.29 and a beta of 0.39. The stock’s 50 day simple moving average is $326.71 and its 200 day simple moving average is $334.74. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.39 and a quick ratio of 0.39.

Everest Group (NYSE:EG) last posted its earnings results on Monday, October 27th. The company reported $7.54 EPS for the quarter, missing analysts’ consensus estimates of $13.39 by ($5.85). The firm had revenue of $4.32 billion for the quarter, compared to analysts’ expectations of $3.86 billion. Everest Group had a return on equity of 3.74% and a net margin of 3.12%.The firm’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $11.80 earnings per share. As a group, equities analysts anticipate that Everest Group will post 47.93 EPS for the current fiscal year.

Everest Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 12th. Investors of record on Wednesday, November 26th were paid a dividend of $2.00 per share. The ex-dividend date of this dividend was Wednesday, November 26th. This represents a $8.00 annualized dividend and a yield of 2.4%. Everest Group’s payout ratio is 60.93%.

Insiders Place Their Bets

In other Everest Group news, Director Allan Levine bought 3,100 shares of Everest Group stock in a transaction dated Wednesday, October 29th. The stock was bought at an average cost of $306.08 per share, for a total transaction of $948,848.00. Following the purchase, the director owned 4,153 shares in the company, valued at $1,271,150.24. This represents a 294.40% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director William F. Galtney, Jr. purchased 11,385 shares of the firm’s stock in a transaction dated Wednesday, October 29th. The shares were bought at an average cost of $307.38 per share, with a total value of $3,499,521.30. Following the transaction, the director directly owned 45,491 shares of the company’s stock, valued at approximately $13,983,023.58. This represents a 33.38% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in EG. Natixis raised its holdings in shares of Everest Group by 1,456.3% in the 2nd quarter. Natixis now owns 65,941 shares of the company’s stock worth $22,410,000 after purchasing an additional 61,704 shares in the last quarter. Exchange Traded Concepts LLC grew its position in Everest Group by 25.3% in the second quarter. Exchange Traded Concepts LLC now owns 3,647 shares of the company’s stock worth $1,239,000 after buying an additional 737 shares during the last quarter. Korea Investment CORP increased its holdings in shares of Everest Group by 130.4% in the first quarter. Korea Investment CORP now owns 62,093 shares of the company’s stock valued at $22,560,000 after buying an additional 35,145 shares in the last quarter. Balyasny Asset Management L.P. lifted its position in shares of Everest Group by 37.5% during the 2nd quarter. Balyasny Asset Management L.P. now owns 336,692 shares of the company’s stock valued at $114,425,000 after acquiring an additional 91,799 shares during the last quarter. Finally, Panagora Asset Management Inc. boosted its stake in shares of Everest Group by 95.8% during the 1st quarter. Panagora Asset Management Inc. now owns 7,415 shares of the company’s stock worth $2,694,000 after acquiring an additional 3,628 shares in the last quarter. 92.64% of the stock is currently owned by institutional investors.

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.