Everest Group (NYSE:EG) Coverage Initiated at Janney Montgomery Scott

Equities research analysts at Janney Montgomery Scott initiated coverage on shares of Everest Group (NYSE:EG - Get Free Report) in a research report issued to clients and investors on Friday, MarketBeat reports. The firm set a "buy" rating and a $425.00 price target on the stock. Janney Montgomery Scott's price target would suggest a potential upside of 24.27% from the stock's current price.

EG has been the topic of a number of other research reports. Keefe, Bruyette & Woods lowered their target price on shares of Everest Group from $434.00 to $402.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Morgan Stanley upped their target price on shares of Everest Group from $330.00 to $350.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. Barclays lowered their target price 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. Raymond James Financial reissued a "strong-buy" rating and issued a $410.00 target price (down previously from $420.00) on shares of Everest Group in a research note on Tuesday, May 6th. Finally, UBS Group decreased their price objective on shares of Everest Group from $375.00 to $372.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 9th. Six analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Everest Group has a consensus rating of "Moderate Buy" and a consensus price target of $400.33.

Everest Group Stock Performance

Everest Group stock traded up $4.71 during trading hours on Friday, hitting $342.01. The stock had a trading volume of 399,439 shares, compared to its average volume of 399,877. The company has a 50-day moving average of $344.80 and a two-hundred day moving average of $350.70. 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 company has a market cap of $14.55 billion, a PE ratio of 17.59, a price-to-earnings-growth ratio of 0.26 and a beta of 0.53. Everest Group has a fifty-two week low of $320.00 and a fifty-two week high of $407.30.

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

Insider Activity at Everest Group

In related news, CEO James Allan Williamson acquired 1,000 shares of the stock in a transaction dated Wednesday, June 11th. The stock was bought at an average price of $337.97 per share, with a total value of $337,970.00. Following the completion of the transaction, the chief executive officer now directly owns 25,618 shares of the company's stock, valued at approximately $8,658,115.46. The trade was a 4.06% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in EG. Van ECK Associates Corp grew its position in Everest Group by 61.5% in the fourth quarter. Van ECK Associates Corp now owns 680 shares of the company's stock valued at $246,000 after purchasing an additional 259 shares in the last quarter. CIBC Asset Management Inc grew its position in Everest Group by 4.1% in the fourth quarter. CIBC Asset Management Inc now owns 6,568 shares of the company's stock valued at $2,381,000 after purchasing an additional 259 shares in the last quarter. D.A. Davidson & CO. lifted its stake in Everest Group by 146.1% in the fourth quarter. D.A. Davidson & CO. now owns 2,018 shares of the company's stock valued at $732,000 after acquiring an additional 1,198 shares during the last quarter. Atria Wealth Solutions Inc. acquired a new stake in Everest Group in the fourth quarter valued at $325,000. Finally, New York State Common Retirement Fund lifted its stake in Everest Group by 27.1% in the fourth quarter. New York State Common Retirement Fund now owns 38,543 shares of the company's stock valued at $13,970,000 after acquiring an additional 8,212 shares during the last quarter. Institutional investors own 92.64% of the company's stock.

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.