Keefe, Bruyette & Woods Lowers Everest Group (NYSE:EG) Price Target to $402.00

Everest Group (NYSE:EG) had its price objective reduced by investment analysts at Keefe, Bruyette & Woods from $434.00 to $402.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ target price points to a potential upside of 17.82% from the stock’s current price.

A number of other analysts have also recently commented on EG. BMO Capital Markets cut Everest Group from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $453.00 to $375.00 in a research report on Thursday, January 30th. Wells Fargo & Company decreased their target price on shares of Everest Group from $390.00 to $380.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. Barclays upped their price target on shares of Everest Group from $461.00 to $470.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $340.00 price objective (down from $425.00) on shares of Everest Group in a research note on Wednesday, February 5th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Everest Group currently has an average rating of “Hold” and a consensus price target of $406.00.

Everest Group Stock Performance

EG opened at $341.21 on Wednesday. Everest Group has a 12-month low of $320.00 and a 12-month high of $407.30. The company has a market cap of $16.30 billion, a price-to-earnings ratio of 10.86, a PEG ratio of 0.24 and a beta of 0.43. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.26. The company’s 50 day moving average is $348.66 and its 200 day moving average is $363.70.

Everest Group (NYSE:EG) last issued its quarterly earnings results on Monday, February 3rd. The company reported ($18.39) earnings per share for the quarter, missing the consensus estimate of $11.64 by ($30.03). Everest Group had a return on equity of 9.04% and a net margin of 7.95%. On average, equities research analysts predict that Everest Group will post 47.93 EPS for the current year.

Insider Buying and Selling at Everest Group

In other Everest Group news, Director Geraldine Losquadro sold 1,500 shares of Everest Group stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $360.63, for a total value of $540,945.00. Following the sale, the director now owns 12,279 shares of the company’s stock, valued at $4,428,175.77. The trade was a 10.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of EG. Vanguard Group Inc. lifted its position in Everest Group by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 5,560,030 shares of the company’s stock valued at $2,015,288,000 after purchasing an additional 43,793 shares during the last quarter. Norges Bank purchased a new stake in shares of Everest Group during the 4th quarter valued at about $488,588,000. Franklin Resources Inc. lifted its holdings in shares of Everest Group by 0.4% in the 4th quarter. Franklin Resources Inc. now owns 1,281,611 shares of the company’s stock valued at $464,533,000 after acquiring an additional 4,544 shares during the last quarter. Geode Capital Management LLC grew its position in Everest Group by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 1,164,081 shares of the company’s stock worth $424,344,000 after acquiring an additional 8,321 shares in the last quarter. Finally, Vulcan Value Partners LLC increased its stake in Everest Group by 279.1% during the fourth quarter. Vulcan Value Partners LLC now owns 978,713 shares of the company’s stock worth $354,768,000 after acquiring an additional 720,572 shares during the last quarter. 92.64% of the stock is currently owned by 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.