Everest Group (NYSE:EG) Stock Price Up 4.7% on Analyst Upgrade

Everest Group, Ltd. (NYSE:EG)’s stock price rose 4.7% on Wednesday after Jefferies Financial Group raised their price target on the stock from $440.00 to $457.00. Jefferies Financial Group currently has a buy rating on the stock. Everest Group traded as high as $391.99 and last traded at $391.20. Approximately 295,797 shares were traded during mid-day trading, a decline of 12% from the average daily volume of 336,440 shares. The stock had previously closed at $373.73.

Several other research firms have also recently issued reports on EG. TD Cowen cut their price objective on Everest Group from $419.00 to $405.00 and set a “hold” rating for the company in a research report on Tuesday, August 13th. Morgan Stanley decreased their price objective on shares of Everest Group from $450.00 to $445.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 10th. Bank of America raised their target price on shares of Everest Group from $470.00 to $493.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Wells Fargo & Company upped their price target on shares of Everest Group from $392.00 to $393.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Finally, Keefe, Bruyette & Woods cut their price objective on Everest Group from $454.00 to $438.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $438.82.

Hedge Funds Weigh In On Everest Group

Several hedge funds and other institutional investors have recently modified their holdings of EG. Capital Insight Partners LLC boosted its position in shares of Everest Group by 3.9% in the third quarter. Capital Insight Partners LLC now owns 1,928 shares of the company’s stock worth $755,000 after buying an additional 72 shares during the period. Bruce G. Allen Investments LLC boosted its stake in shares of Everest Group by 200.0% in the third quarter. Bruce G. Allen Investments LLC now owns 78 shares of the company’s stock valued at $31,000 after purchasing an additional 52 shares during the period. Wedmont Private Capital grew its holdings in Everest Group by 4.8% during the 3rd quarter. Wedmont Private Capital now owns 638 shares of the company’s stock valued at $238,000 after purchasing an additional 29 shares in the last quarter. Daymark Wealth Partners LLC increased its stake in Everest Group by 9.8% during the 3rd quarter. Daymark Wealth Partners LLC now owns 2,250 shares of the company’s stock worth $882,000 after buying an additional 200 shares during the period. Finally, Diversified Trust Co lifted its holdings in Everest Group by 8.8% in the 3rd quarter. Diversified Trust Co now owns 5,424 shares of the company’s stock worth $2,125,000 after buying an additional 440 shares in the last quarter. 92.64% of the stock is owned by institutional investors and hedge funds.

Everest Group Trading Up 4.1 %

The company has a market capitalization of $16.90 billion, a PE ratio of 5.79, a PEG ratio of 2.76 and a beta of 0.61. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.24. The business’s 50-day simple moving average is $381.85 and its two-hundred day simple moving average is $380.52.

Everest Group (NYSE:EG) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $16.85 earnings per share for the quarter, missing analysts’ consensus estimates of $16.97 by ($0.12). Everest Group had a net margin of 18.36% and a return on equity of 24.09%. The business had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.32 billion. During the same quarter last year, the business earned $15.21 EPS. Everest Group’s revenue for the quarter was up 15.8% compared to the same quarter last year. On average, analysts predict that Everest Group, Ltd. will post 61.66 earnings per share for the current year.

Everest Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Monday, September 16th were issued a $2.00 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $8.00 annualized dividend and a yield of 2.06%. Everest Group’s dividend payout ratio is presently 11.89%.

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.