Barclays Has Lowered Expectations for Everest Group (NYSE:EG) Stock Price

Everest Group (NYSE:EG) had its target price lowered by investment analysts at Barclays from $527.00 to $517.00 in a report released on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price points to a potential upside of 43.80% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on the company. TD Cowen lowered their price objective on Everest Group from $419.00 to $405.00 and set a “hold” rating on the stock in a report on Tuesday, August 13th. BMO Capital Markets reissued a “market perform” rating and set a $403.00 price target on shares of Everest Group in a report on Friday, August 30th. Keefe, Bruyette & Woods cut their price target on shares of Everest Group from $454.00 to $438.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Morgan Stanley cut their price target on shares of Everest Group from $450.00 to $445.00 and set an “overweight” rating for the company in a report on Wednesday, July 10th. Finally, Bank of America cut their price target on shares of Everest Group from $496.00 to $485.00 and set a “buy” rating for the company in a report on Thursday, October 10th. Five research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $438.36.

Everest Group Price Performance

EG stock traded down $20.47 during trading on Thursday, hitting $359.53. The stock had a trading volume of 573,986 shares, compared to its average volume of 342,972. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.38 and a quick ratio of 0.38. Everest Group has a twelve month low of $343.76 and a twelve month high of $417.92. The stock has a market capitalization of $15.48 billion, a P/E ratio of 5.34, a PEG ratio of 2.67 and a beta of 0.61. The company’s 50-day moving average price is $387.38 and its two-hundred day moving average price is $380.81.

Everest Group (NYSE:EG) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $16.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $16.97 by ($0.12). Everest Group had a return on equity of 24.09% and a net margin of 18.36%. The firm had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.32 billion. During the same quarter in the previous year, the firm posted $15.21 earnings per share. The company’s quarterly revenue was up 15.8% on a year-over-year basis. As a group, research analysts predict that Everest Group will post 60.97 EPS for the current fiscal year.

Hedge Funds Weigh In On Everest Group

A number of hedge funds have recently made changes to their positions in EG. Boston Partners raised its holdings in shares of Everest Group by 29.1% in the 1st quarter. Boston Partners now owns 1,197,457 shares of the company’s stock worth $475,750,000 after purchasing an additional 269,665 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Everest Group by 1.8% during the second quarter. AQR Capital Management LLC now owns 1,032,479 shares of the company’s stock valued at $393,395,000 after acquiring an additional 17,885 shares during the period. Champlain Investment Partners LLC raised its holdings in shares of Everest Group by 5.3% during the first quarter. Champlain Investment Partners LLC now owns 906,100 shares of the company’s stock valued at $360,175,000 after acquiring an additional 45,705 shares during the period. William Blair Investment Management LLC raised its holdings in shares of Everest Group by 30.2% during the second quarter. William Blair Investment Management LLC now owns 580,171 shares of the company’s stock valued at $221,057,000 after acquiring an additional 134,517 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Everest Group by 7.7% during the second quarter. Dimensional Fund Advisors LP now owns 535,121 shares of the company’s stock valued at $203,891,000 after acquiring an additional 38,254 shares during the period. 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.