Everest Group (NYSE:EG) Cut to Neutral at Citigroup

Everest Group (NYSE:EGGet Free Report) was downgraded by equities researchers at Citigroup from a “buy” rating to a “neutral” rating in a research note issued on Monday, Briefing.com reports. They currently have a $375.00 price target on the stock, down from their previous price target of $452.00. Citigroup’s price target points to a potential upside of 6.00% from the company’s previous close.

A number of other brokerages also recently issued reports on EG. Wells Fargo & Company downgraded Everest Group from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $484.00 to $402.00 in a research note on Friday. Morgan Stanley increased their price target on Everest Group from $450.00 to $480.00 and gave the stock an “overweight” rating in a report on Wednesday, November 15th. Keefe, Bruyette & Woods raised their price objective on shares of Everest Group from $450.00 to $460.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 15th. TD Cowen began coverage on shares of Everest Group in a research report on Wednesday, January 10th. They set a “market perform” rating and a $421.00 target price on the stock. Finally, Evercore ISI started coverage on shares of Everest Group in a report on Thursday, December 14th. They issued an “inline” rating and a $431.00 price target for the company. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $436.33.

Get Our Latest Analysis on EG

Everest Group Stock Down 0.2 %

NYSE:EG opened at $353.76 on Monday. Everest Group has a one year low of $331.08 and a one year high of $417.92. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.34 and a quick ratio of 0.38. The company has a market cap of $15.35 billion, a PE ratio of 5.92, a P/E/G ratio of 0.21 and a beta of 0.57. The firm’s 50 day simple moving average is $371.30 and its 200 day simple moving average is $376.84.

Everest Group (NYSE:EGGet Free Report) last announced its earnings results on Wednesday, February 7th. The company reported $25.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $14.63 by $10.55. Everest Group had a return on equity of 25.05% and a net margin of 17.26%. The business had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.85 billion. During the same period last year, the company earned $12.21 EPS. Everest Group’s revenue for the quarter was up 12.4% compared to the same quarter last year. On average, research analysts anticipate that Everest Group will post 61.94 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Allworth Financial LP purchased a new position in Everest Group in the fourth quarter valued at about $25,000. Avior Wealth Management LLC bought a new position in Everest Group during the fourth quarter valued at $25,000. Headlands Technologies LLC bought a new position in Everest Group during the fourth quarter valued at $25,000. Janiczek Wealth Management LLC purchased a new stake in Everest Group in the fourth quarter worth $27,000. Finally, Trifecta Capital Advisors LLC bought a new stake in shares of Everest Group in the fourth quarter valued at $28,000. Hedge funds and other institutional investors own 90.45% of the company’s stock.

Everest Group Company Profile

(Get Free Report)

Everest Group, Ltd., through its subsidiaries, provides reinsurance and insurance products in the United States, Bermuda, and internationally. The company operates through Reinsurance Operations and Insurance Operations segments. The Reinsurance Operations 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.

See Also

Analyst Recommendations for Everest Group (NYSE:EG)

Receive News & Ratings for Everest Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Everest Group and related companies with MarketBeat.com's FREE daily email newsletter.