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

Everest Group (NYSE:EG - Free Report) had its target price decreased by UBS Group from $372.00 to $370.00 in a research report sent to investors on Wednesday,Benzinga reports. UBS Group currently has a neutral rating on the stock.

EG has been the subject of several other research reports. Janney Montgomery Scott started coverage on shares of Everest Group in a research report on Friday, June 20th. They issued a "buy" rating and a $425.00 target price for the company. 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. Keefe, Bruyette & Woods dropped their target price on shares of Everest Group from $434.00 to $402.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Morgan Stanley lifted their price target on shares of Everest Group from $330.00 to $350.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and issued a $410.00 price target (down from $420.00) on shares of Everest Group in a report on Tuesday, May 6th. 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 stock. According to MarketBeat, Everest Group presently has an average rating of "Moderate Buy" and a consensus target price of $400.75.

Everest Group Trading Down 0.4%

NYSE:EG traded down $1.35 during trading hours on Wednesday, reaching $340.07. 282,577 shares of the company were exchanged, compared to its average volume of 404,302. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.35 and a quick ratio of 0.35. The firm has a market cap of $14.46 billion, a price-to-earnings ratio of 17.49, a PEG ratio of 0.27 and a beta of 0.51. Everest Group has a 52-week low of $320.00 and a 52-week high of $407.30. The stock has a 50 day simple moving average of $341.23 and a 200 day simple moving average of $349.14.

Everest Group (NYSE:EG - Get Free Report) last posted 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 company had revenue of $4.26 billion for the quarter, compared to analysts' expectations of $3.89 billion. Everest Group had a return on equity of 5.95% and a net margin of 4.88%. The business's revenue for the quarter was up 3.1% on a year-over-year basis. During the same period in the prior year, the business earned $16.32 EPS. As a group, analysts predict that Everest Group will post 47.93 EPS for the current year.

Everest Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Wednesday, May 28th were issued a dividend of $2.00 per share. The ex-dividend date was Wednesday, May 28th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.35%. Everest Group's dividend payout ratio is currently 41.15%.

Insider Buying and Selling

In related news, CEO James Allan Williamson acquired 1,000 shares of the stock in a transaction that occurred on Wednesday, June 11th. The shares were purchased at an average cost of $337.97 per share, with a total value of $337,970.00. Following the completion of the transaction, the chief executive officer owned 25,618 shares of the company's stock, valued at approximately $8,658,115.46. This trade represents a 4.06% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.10% of the company's stock.

Institutional Inflows and Outflows

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

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.