Barclays Issues Pessimistic Forecast for Everest Group (NYSE:EG) Stock Price

Everest Group (NYSE:EG) had its price target dropped by analysts at Barclays from $517.00 to $499.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price would suggest a potential upside of 36.78% from the company’s current price.

Other equities analysts have also issued research reports about the company. Bank of America lowered their price objective on Everest Group from $496.00 to $485.00 and set a “buy” rating on the stock in a research note on Thursday, October 10th. TD Cowen dropped their price objective on shares of Everest Group from $444.00 to $419.00 and set a “hold” rating for the company in a report on Monday, November 18th. BMO Capital Markets cut their price target on shares of Everest Group from $383.00 to $372.00 and set a “market perform” rating on the stock in a report on Thursday, November 14th. UBS Group upgraded Everest Group to a “hold” rating in a research report on Wednesday, October 9th. Finally, Jefferies Financial Group downgraded shares of Everest Group from a “buy” rating to a “hold” rating and increased their target price for the company from $420.00 to $429.00 in a research report on Tuesday, November 26th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $428.00.

Everest Group Stock Performance

Shares of Everest Group stock traded down $0.33 during trading on Monday, reaching $364.81. The company’s stock had a trading volume of 165,619 shares, compared to its average volume of 256,013. The business’s 50-day moving average price is $368.54 and its 200-day moving average price is $377.52. Everest Group has a 52 week low of $343.76 and a 52 week high of $407.30. The firm has a market cap of $15.68 billion, a PE ratio of 5.71, a P/E/G ratio of 2.69 and a beta of 0.65. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.22.

Insider Buying and Selling

In related news, COO James Allan Williamson sold 200 shares of Everest Group stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $370.00, for a total transaction of $74,000.00. Following the completion of the transaction, the chief operating officer now directly owns 15,009 shares of the company’s stock, valued at $5,553,330. This trade represents a 1.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Mike Karmilowicz sold 269 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $348.48, for a total transaction of $93,741.12. Following the transaction, the executive vice president now directly owns 12,726 shares of the company’s stock, valued at $4,434,756.48. This represents a 2.07 % decrease in their position. The disclosure for this sale can be found here. 1.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Everest Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. M&R Capital Management Inc. bought a new position in Everest Group during the third quarter valued at approximately $29,000. Bruce G. Allen Investments LLC boosted its stake in shares of Everest Group by 200.0% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 78 shares of the company’s stock worth $31,000 after buying an additional 52 shares during the last quarter. Eastern Bank bought a new stake in shares of Everest Group in the third quarter worth $35,000. Brooklyn Investment Group purchased a new stake in Everest Group during the third quarter valued at $39,000. Finally, American National Bank & Trust lifted its holdings in Everest Group by 80.0% in the third quarter. American National Bank & Trust now owns 126 shares of the company’s stock valued at $49,000 after acquiring an additional 56 shares during the period. Institutional investors own 92.64% of the company’s stock.

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.