UBS Group Lowers Everest Group (NYSE:EG) Price Target to $370.00

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

Other equities research analysts also recently issued research reports about the company. Janney Montgomery Scott initiated coverage on Everest Group in a research report on Friday, June 20th. They set a "buy" rating and a $425.00 price objective for the company. Barclays increased their price objective on Everest Group from $394.00 to $398.00 and gave the company an "overweight" rating in a research report on Monday. Morgan Stanley increased their price objective on Everest Group from $330.00 to $350.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. Raymond James Financial reissued a "strong-buy" rating and set a $410.00 target price (down from $420.00) on shares of Everest Group in a research note on Tuesday, May 6th. Finally, Wells Fargo & Company cut 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 note on Tuesday, May 6th. Six research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $400.83.

Everest Group Stock Performance

Shares of NYSE EG traded up $0.12 during midday trading on Wednesday, hitting $340.31. 212,388 shares of the company's stock were exchanged, compared to its average volume of 403,802. The firm has a market cap of $14.48 billion, a P/E ratio of 17.51, 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 twelve month low of $320.00 and a twelve month high of $407.30. The stock's 50 day moving average price is $341.23 and its 200-day moving average price is $349.14.

Everest Group (NYSE:EG - Get Free Report) last released its 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 firm had revenue of $4.26 billion during the quarter, compared to analyst estimates 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 quarter last year, the company earned $16.32 earnings per share. Equities research analysts anticipate that Everest Group will post 47.93 EPS for the current year.

Everest Group Dividend Announcement

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

Insider Buying and Selling

In other Everest Group news, CEO James Allan Williamson bought 1,000 shares of the stock in a transaction 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 directly owned 25,618 shares of the company's stock, valued at $8,658,115.46. This represents a 4.06% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Everest Group

Hedge funds have recently bought and sold shares of the company. Fifth Third Bancorp boosted its holdings in Everest Group by 18.1% during the first quarter. Fifth Third Bancorp now owns 1,151 shares of the company's stock valued at $418,000 after acquiring an additional 176 shares during the period. Truist Financial Corp boosted its holdings in Everest Group by 16.9% during the first quarter. Truist Financial Corp now owns 108,596 shares of the company's stock valued at $39,456,000 after acquiring an additional 15,660 shares during the period. Wedge Capital Management L L P NC lifted its stake in shares of Everest Group by 14.3% in the first quarter. Wedge Capital Management L L P NC now owns 9,871 shares of the company's stock valued at $3,586,000 after buying an additional 1,235 shares during the period. Sowell Financial Services LLC bought a new stake in shares of Everest Group in the first quarter valued at about $231,000. Finally, SG Americas Securities LLC lifted its stake in shares of Everest Group by 127.3% in the first quarter. SG Americas Securities LLC now owns 5,842 shares of the company's stock valued at $2,123,000 after buying an additional 3,272 shares during the period. 92.64% of the stock is currently owned by institutional investors.

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.