Keefe, Bruyette & Woods Issues Pessimistic Forecast for Everest Group (NYSE:EG) Stock Price

Key Points

• Keefe, Bruyette & Woods lowered Everest Group’s price target from $414 to $407 while maintaining an “outperform” rating, implying about 9% upside from the stock’s $373.44 price.
• Analyst sentiment is mixed: Everest Group has an overall “hold” consensus, with five Buy ratings and eleven Hold ratings, and an average price target of $407.94.
• Everest Group reported quarterly earnings of $14.85 per share on $3.96 billion in revenue, while institutional investors own a substantial 92.64% of the company’s shares.

Everest Group (NYSE:EG - Get Free Report) had its target price cut by investment analysts at Keefe, Bruyette & Woods from $414.00 to $407.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Keefe, Bruyette & Woods' target price would suggest a potential upside of 8.99% from the stock's current price.

EG has been the subject of a number of other research reports. Wells Fargo & Company increased their price target on Everest Group from $373.00 to $396.00 and gave the company an "equal weight" rating in a report on Friday, July 31st. Morgan Stanley lifted their price objective on Everest Group from $355.00 to $360.00 and gave the stock an "equal weight" rating in a report on Monday, July 6th. Barclays upped their target price on Everest Group from $420.00 to $430.00 and gave the company an "overweight" rating in a research report on Thursday, July 30th. Royal Bank Of Canada began coverage on Everest Group in a research report on Tuesday, September 22nd. They issued an "outperform" rating and a $455.00 target price on the stock. Finally, TD Cowen increased their target price on Everest Group from $365.00 to $385.00 and gave the company a "hold" rating in a research note on Wednesday, August 19th. Five equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $407.94.

Everest Group Stock Performance

Shares of EG stock opened at $373.44 on Monday. Everest Group has a 12 month low of $302.44 and a 12 month high of $401.07. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.35 and a quick ratio of 0.35. The firm has a market capitalization of $14.32 billion, a P/E ratio of 7.85, a P/E/G ratio of 0.55 and a beta of 0.26. The company's fifty day moving average price is $372.06 and its two-hundred day moving average price is $357.35.

Everest Group (NYSE:EG - Get Free Report) last announced its earnings results on Tuesday, June 30th. The company reported $14.85 earnings per share for the quarter. Everest Group had a return on equity of 13.63% and a net margin of 11.41%. The company had revenue of $3.96 billion during the quarter. On average, research analysts anticipate that Everest Group will post 54.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Sacks & Associates LLC acquired a new stake in shares of Everest Group during the third quarter worth $768,000. Dupree Financial Group LLC boosted its position in shares of Everest Group by 1.9% in the 3rd quarter. Dupree Financial Group LLC now owns 18,525 shares of the company's stock valued at $6,765,000 after purchasing an additional 341 shares during the period. Paragon Capital Management Ltd acquired a new position in shares of Everest Group in the 3rd quarter valued at $203,000. GAMMA Investing LLC increased its stake in Everest Group by 17.8% in the 3rd quarter. GAMMA Investing LLC now owns 2,038 shares of the company's stock worth $744,000 after purchasing an additional 308 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its stake in Everest Group by 141.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,202 shares of the company's stock worth $1,535,000 after purchasing an additional 2,465 shares in the last quarter. 92.64% of the stock is owned by institutional investors and hedge funds.

Everest Group Company Profile

Everest Group, Ltd. is a global specialty insurance and reinsurance company headquartered in Hamilton, Bermuda. The company provides risk-management and underwriting solutions to businesses, institutions, and insurance companies through its insurance and reinsurance operations.

Everest's products and services include property and casualty insurance, specialty insurance, and reinsurance coverage. Its offerings address a range of risks, including property, casualty, workers' compensation, professional liability, marine, aviation, accident and health, and other specialty exposures.

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