UBS Group Lowers Everest Group (NYSE:EG) Price Target to $372.00

Everest Group (NYSE:EG) had its price target trimmed by UBS Group from $375.00 to $372.00 in a research report sent to investors on Wednesday,Benzinga reports. The firm currently has a neutral rating on the stock.

Other research analysts have also issued research reports about the stock. BMO Capital Markets lowered shares of Everest Group from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $453.00 to $375.00 in a research note on Thursday, January 30th. Keefe, Bruyette & Woods decreased their price objective on Everest Group from $434.00 to $402.00 and set an “outperform” rating for the company in a report on Wednesday. Wells Fargo & Company dropped their target price on Everest Group from $390.00 to $380.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. Morgan Stanley reaffirmed an “equal weight” rating and set a $340.00 target price (down from $425.00) on shares of Everest Group in a research report on Wednesday, February 5th. Finally, Barclays raised their price target on Everest Group from $461.00 to $470.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $408.00.

Everest Group Stock Down 1.6 %

Shares of NYSE:EG traded down $5.61 on Wednesday, reaching $342.77. The company had a trading volume of 113,596 shares, compared to its average volume of 430,260. The firm has a market capitalization of $16.38 billion, a PE ratio of 10.91, a PEG ratio of 0.24 and a beta of 0.43. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.26. Everest Group has a 52-week low of $320.00 and a 52-week high of $407.30. The firm’s 50 day simple moving average is $348.75 and its 200-day simple moving average is $363.99.

Everest Group (NYSE:EG) last posted its earnings results on Monday, February 3rd. The company reported ($18.39) earnings per share (EPS) for the quarter, missing the consensus estimate of $11.64 by ($30.03). Everest Group had a net margin of 7.95% and a return on equity of 9.04%. As a group, analysts expect that Everest Group will post 47.93 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 17th were paid a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 2.33%. The ex-dividend date was Monday, March 17th. Everest Group’s payout ratio is 25.47%.

Insider Activity at Everest Group

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

Institutional Investors Weigh In On Everest Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC boosted its stake in shares of Everest Group by 152.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 22,693 shares of the company’s stock worth $8,225,000 after buying an additional 13,687 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Everest Group by 19.5% in the third quarter. JPMorgan Chase & Co. now owns 78,469 shares of the company’s stock valued at $30,747,000 after acquiring an additional 12,791 shares during the period. Principal Financial Group Inc. lifted its holdings in Everest Group by 5.5% in the third quarter. Principal Financial Group Inc. now owns 53,892 shares of the company’s stock valued at $21,117,000 after acquiring an additional 2,818 shares during the period. Stifel Financial Corp boosted its position in Everest Group by 3.9% in the 3rd quarter. Stifel Financial Corp now owns 4,347 shares of the company’s stock worth $1,704,000 after purchasing an additional 162 shares in the last quarter. Finally, Atria Wealth Solutions Inc. acquired a new stake in shares of Everest Group during the 4th quarter worth approximately $325,000. 92.64% of the stock is owned by institutional investors and hedge funds.

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.