Brokerages Set Everest Group, Ltd. (NYSE:EG) Target Price at $397.18

Everest Group, Ltd. (NYSE:EG - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the eleven ratings firms that are presently covering the company, MarketBeat reports. Six investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $398.09.

Several research analysts recently commented on EG shares. Barclays reduced their price target on shares of Everest Group from $470.00 to $394.00 and set an "overweight" rating on the stock in a research note on Friday, April 11th. Keefe, Bruyette & Woods dropped their target price on shares of Everest Group from $434.00 to $402.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Jefferies Financial Group upgraded shares of Everest Group from a "hold" rating to a "buy" rating and raised their price target for the company from $376.00 to $415.00 in a report on Friday, April 11th. BMO Capital Markets cut shares of Everest Group from an "outperform" rating to a "market perform" rating and lowered their price target for the company from $453.00 to $375.00 in a report on Thursday, January 30th. Finally, Wells Fargo & Company lowered their price target on shares of Everest Group from $362.00 to $361.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 6th.

Insider Transactions at Everest Group

In other news, Director Geraldine Losquadro sold 1,500 shares of Everest Group stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $360.63, for a total transaction of $540,945.00. Following the completion of the transaction, the director now directly 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.10% of the company's stock.

Hedge Funds Weigh In On Everest Group

Institutional investors have recently made changes to their positions in the company. Sunbelt Securities Inc. purchased a new position in shares of Everest Group during the 4th quarter valued at approximately $29,000. SVB Wealth LLC acquired a new position in Everest Group in the first quarter valued at about $30,000. SBI Securities Co. Ltd. purchased a new stake in shares of Everest Group in the 4th quarter valued at approximately $31,000. Tsfg LLC purchased a new position in shares of Everest Group during the first quarter worth $33,000. Finally, Zions Bancorporation National Association UT acquired a new stake in shares of Everest Group during the first quarter worth about $34,000. 92.64% of the stock is owned by hedge funds and other institutional investors.

Everest Group Price Performance

Shares of NYSE:EG traded down $0.30 during midday trading on Friday, reaching $336.00. 421,507 shares of the company were exchanged, compared to its average volume of 383,436. The stock has a market cap of $14.29 billion, a PE ratio of 10.70, a price-to-earnings-growth ratio of 0.24 and a beta of 0.58. The business's fifty day moving average is $349.89 and its two-hundred day moving average is $356.40. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.26. Everest Group has a one year low of $320.00 and a one year high of $407.30.

Everest Group (NYSE:EG - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $6.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $7.46 by ($1.01). Everest Group had a net margin of 7.95% and a return on equity of 9.04%. The business had revenue of $4.26 billion for the quarter, compared to analysts' expectations of $3.89 billion. During the same period in the previous year, the company earned $16.32 EPS. Everest Group's revenue for the quarter was up 3.1% compared to the same quarter last year. As a group, analysts predict that Everest Group will post 47.93 earnings per share for the current year.

Everest Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Wednesday, May 28th will be paid a $2.00 dividend. The ex-dividend date is Wednesday, May 28th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.38%. Everest Group's payout ratio is currently 41.15%.

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.