UBS Group Issues Pessimistic Forecast for Everest Group (NYSE:EG) Stock Price

Everest Group (NYSE:EG - Free Report) had its target price reduced by UBS Group from $372.00 to $370.00 in a research note released on Wednesday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other research analysts have also recently commented on EG. Morgan Stanley boosted their target price on shares of Everest Group from $330.00 to $350.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Keefe, Bruyette & Woods reduced 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 report on Wednesday, April 9th. Wells Fargo & Company reduced their target price on shares of Everest Group from $362.00 to $361.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 6th. Jefferies Financial Group raised shares of Everest Group from a "hold" rating to a "buy" rating and boosted their target price for the stock from $376.00 to $415.00 in a research report on Friday, April 11th. Finally, Barclays boosted their target price on shares of Everest Group from $394.00 to $398.00 and gave the stock an "overweight" rating in a research report on Monday, July 7th. Six analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Everest Group has an average rating of "Moderate Buy" and a consensus price target of $400.83.

Everest Group Trading Down 0.4%

EG stock traded down $1.27 during midday trading on Wednesday, reaching $339.18. 294,103 shares of the company's stock traded hands, compared to its average volume of 405,015. The company has a market capitalization of $14.43 billion, a P/E ratio of 17.45, a PEG ratio of 0.27 and a beta of 0.51. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.35 and a quick ratio of 0.35. Everest Group has a fifty-two week low of $320.00 and a fifty-two week high of $407.30. The business has a 50-day moving average price of $341.09 and a two-hundred day moving average price of $348.85.

Everest Group (NYSE:EG - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $6.45 earnings per share for the quarter, missing analysts' consensus estimates of $7.46 by ($1.01). The business had revenue of $4.26 billion for 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 quarterly revenue was up 3.1% on a year-over-year basis. During the same period last year, the firm earned $16.32 earnings per share. Equities research analysts forecast that Everest Group will post 47.93 EPS for the current fiscal year.

Everest Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Wednesday, May 28th were paid a $2.00 dividend. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.36%. Everest Group's dividend payout ratio (DPR) is presently 41.15%.

Insider Activity

In related news, CEO James Allan Williamson purchased 1,000 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The stock was acquired 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 owned 25,618 shares in the company, valued at approximately $8,658,115.46. This represents 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. Company insiders own 1.10% of the company's stock.

Institutional Trading of Everest Group

Several institutional investors have recently added to or reduced their stakes in EG. SBI Securities Co. Ltd. bought a new stake in Everest Group during the fourth quarter valued at $31,000. Atria Investments Inc bought a new position in shares of Everest Group during the fourth quarter worth about $581,000. Proficio Capital Partners LLC bought a new position in shares of Everest Group during the fourth quarter worth about $10,247,000. Raymond James Financial Inc. bought a new position in shares of Everest Group during the fourth quarter worth about $48,290,000. Finally, Callan Family Office LLC bought a new position in shares of Everest Group during the fourth quarter worth about $251,000. Institutional investors own 92.64% of the company's stock.

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.