Keefe, Bruyette & Woods Raises Everest Group (NYSE:EG) Price Target to $434.00

Everest Group (NYSE:EG) had its target price upped by analysts at Keefe, Bruyette & Woods from $420.00 to $434.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ target price suggests a potential upside of 20.70% from the company’s previous close.

Other research analysts also recently issued reports about the company. Bank of America dropped their price target on Everest Group from $496.00 to $485.00 and set a “buy” rating on the stock in a research report on Thursday, October 10th. Barclays lowered their price objective on shares of Everest Group from $517.00 to $499.00 and set an “overweight” rating for the company in a research report on Monday. BMO Capital Markets upgraded shares of Everest Group from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $372.00 to $453.00 in a research report on Friday. Wells Fargo & Company lowered their price target on shares of Everest Group from $402.00 to $390.00 and set an “equal weight” rating for the company in a report on Wednesday, December 4th. Finally, TD Cowen reduced their price objective on Everest Group from $444.00 to $419.00 and set a “hold” rating on the stock in a report on Monday, November 18th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Everest Group has a consensus rating of “Moderate Buy” and a consensus target price of $436.56.

Everest Group Stock Down 2.4 %

NYSE:EG traded down $8.87 during mid-day trading on Friday, reaching $359.56. The stock had a trading volume of 113,775 shares, compared to its average volume of 288,616. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.40 and a quick ratio of 0.40. The stock has a market cap of $15.45 billion, a P/E ratio of 5.63, a PEG ratio of 2.69 and a beta of 0.65. The business’s 50 day moving average is $368.04 and its 200 day moving average is $377.22. Everest Group has a fifty-two week low of $343.76 and a fifty-two week high of $407.30.

Insiders Place Their Bets

In other Everest Group news, EVP Mike Karmilowicz sold 269 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $348.48, for a total value of $93,741.12. Following the completion of the transaction, the executive vice president now owns 12,726 shares in the company, valued at $4,434,756.48. This represents a 2.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO James Allan Williamson sold 200 shares of the stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $370.00, for a total transaction of $74,000.00. Following the transaction, the chief operating officer now owns 15,009 shares of the company’s stock, valued at $5,553,330. This represents a 1.32 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Legend Financial Advisors Inc. raised its stake in shares of Everest Group by 6.5% during the fourth quarter. Legend Financial Advisors Inc. now owns 1,860 shares of the company’s stock worth $674,000 after acquiring an additional 113 shares in the last quarter. JPMorgan Chase & Co. raised 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 worth $30,747,000 after purchasing an additional 12,791 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Everest Group by 5.5% during the 3rd quarter. Principal Financial Group Inc. now owns 53,892 shares of the company’s stock valued at $21,117,000 after buying an additional 2,818 shares in the last quarter. SPX Gestao de Recursos Ltda purchased a new stake in shares of Everest Group in the 3rd quarter worth about $6,986,000. Finally, Synovus Financial Corp increased its stake in shares of Everest Group by 116.4% in the 3rd quarter. Synovus Financial Corp now owns 4,561 shares of the company’s stock worth $1,787,000 after acquiring an additional 2,453 shares in the last quarter. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

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.