Everest Group (NYSE:EG) Given New $402.00 Price Target at Keefe, Bruyette & Woods

Everest Group (NYSE:EG) had its target price dropped by stock analysts at Keefe, Bruyette & Woods from $434.00 to $402.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 21.84% from the company’s previous close.

A number of other brokerages have also recently weighed in on EG. Morgan Stanley restated an “equal weight” rating and set a $340.00 price objective (down from $425.00) on shares of Everest Group in a research note on Wednesday, February 5th. Wells Fargo & Company decreased their price target on shares of Everest Group from $390.00 to $380.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. BMO Capital Markets cut shares of Everest Group from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $453.00 to $375.00 in a report on Thursday, January 30th. Finally, Barclays boosted their price objective on shares of Everest Group from $461.00 to $470.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $412.50.

Everest Group Stock Down 0.6 %

NYSE EG traded down $2.09 during trading on Wednesday, reaching $329.95. 28,520 shares of the company’s stock traded hands, compared to its average volume of 368,551. The company’s 50 day simple moving average is $348.81 and its two-hundred day simple moving average is $364.37. Everest Group has a 12-month low of $318.91 and a 12-month high of $407.30. The firm has a market cap of $15.77 billion, a price-to-earnings ratio of 10.45, a price-to-earnings-growth ratio of 0.24 and a beta of 0.43. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.40 and a quick ratio of 0.40.

Everest Group (NYSE:EG) last issued its quarterly earnings data on Monday, February 3rd. The company reported ($18.39) EPS for the quarter, missing analysts’ consensus estimates of $11.64 by ($30.03). Everest Group had a return on equity of 9.04% and a net margin of 7.95%. As a group, sell-side analysts forecast that Everest Group will post 47.93 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Geraldine Losquadro sold 1,500 shares of the firm’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $360.63, for a total value of $540,945.00. Following the completion of the transaction, the director now owns 12,279 shares in the company, valued at $4,428,175.77. This trade represents a 10.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.20% of the stock is owned by insiders.

Institutional Trading of Everest Group

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Everest Group by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 5,560,030 shares of the company’s stock worth $2,015,288,000 after purchasing an additional 43,793 shares during the period. Norges Bank purchased a new position in Everest Group during the 4th quarter worth approximately $488,588,000. Franklin Resources Inc. lifted its stake in Everest Group by 0.4% during the 4th quarter. Franklin Resources Inc. now owns 1,281,611 shares of the company’s stock valued at $464,533,000 after acquiring an additional 4,544 shares during the period. Geode Capital Management LLC lifted its stake in Everest Group by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 1,164,081 shares of the company’s stock valued at $424,344,000 after acquiring an additional 8,321 shares during the period. Finally, Vulcan Value Partners LLC boosted its holdings in shares of Everest Group by 279.1% in the 4th quarter. Vulcan Value Partners LLC now owns 978,713 shares of the company’s stock valued at $354,768,000 after acquiring an additional 720,572 shares during the last quarter. Hedge funds and other 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.