Everest Group (NYSE:EG) Earns Buy Rating from Analysts at Janney Montgomery Scott

Analysts at Janney Montgomery Scott initiated coverage on shares of Everest Group (NYSE:EG - Get Free Report) in a note issued to investors on Friday,Benzinga reports. The brokerage set a "buy" rating on the stock.

Several other analysts also recently issued reports on EG. Barclays cut their price objective on Everest Group from $470.00 to $394.00 and set an "overweight" rating on the stock in a report on Friday, April 11th. Keefe, Bruyette & Woods reduced their price objective on Everest Group from $434.00 to $402.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Raymond James Financial reaffirmed a "strong-buy" rating and set a $410.00 target price (down previously from $420.00) on shares of Everest Group in a research note on Tuesday, May 6th. Wells Fargo & Company reduced their price target on shares of Everest Group from $362.00 to $361.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 6th. Finally, Morgan Stanley raised their price target on shares of Everest Group from $330.00 to $350.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. Six investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Everest Group has an average rating of "Moderate Buy" and a consensus price target of $398.09.

Everest Group Trading Down 0.1%

Shares of NYSE EG opened at $332.72 on Friday. Everest Group has a 52-week low of $320.00 and a 52-week high of $407.30. The stock's 50 day moving average price is $345.27 and its two-hundred day moving average price is $351.60. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $14.15 billion, a P/E ratio of 17.12, a PEG ratio of 0.26 and a beta of 0.53.

Everest Group (NYSE:EG - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $6.45 EPS for the quarter, missing analysts' consensus estimates of $7.46 by ($1.01). Everest Group had a net margin of 4.88% and a return on equity of 5.95%. The company had revenue of $4.26 billion for the quarter, compared to analyst estimates of $3.89 billion. During the same quarter in the prior year, the business earned $16.32 EPS. Everest Group's revenue was up 3.1% compared to the same quarter last year. On average, analysts anticipate that Everest Group will post 47.93 earnings per share for the current fiscal year.

Insider Transactions at Everest Group

In other Everest Group news, CEO James Allan Williamson purchased 1,000 shares of the firm's stock in a transaction on Wednesday, June 11th. The shares were purchased at an average price of $337.97 per share, for a total transaction of $337,970.00. Following the completion of the purchase, the chief executive officer now directly owns 25,618 shares of the company's stock, valued at approximately $8,658,115.46. This represents a 4.06% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Everest Group

A number of hedge funds have recently modified their holdings of the stock. Sunbelt Securities Inc. acquired a new position in Everest Group during the fourth quarter worth $29,000. SVB Wealth LLC bought a new stake in shares of Everest Group in the 1st quarter worth about $30,000. SBI Securities Co. Ltd. acquired a new stake in shares of Everest Group during the 4th quarter worth about $31,000. Tsfg LLC bought a new position in Everest Group during the 1st quarter valued at about $33,000. Finally, Zions Bancorporation National Association UT acquired a new position in Everest Group in the first quarter valued at about $34,000. 92.64% of the stock is owned by institutional investors and hedge funds.

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.

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