Everest Group (NYSE:EG) Price Target Raised to $405.00 at Keefe, Bruyette & Woods

Everest Group (NYSE:EG - Free Report) had its target price increased by Keefe, Bruyette & Woods from $402.00 to $405.00 in a research note published on Wednesday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

EG has been the subject of a number of other reports. Wells Fargo & Company cut their target price on shares of Everest Group from $362.00 to $361.00 and set an "equal weight" rating for the company in a report on Tuesday, May 6th. Jefferies Financial Group raised shares of Everest Group from a "hold" rating to a "buy" rating and raised their target price for the company from $376.00 to $415.00 in a report on Friday, April 11th. Janney Montgomery Scott began coverage on shares of Everest Group in a report on Friday, June 20th. They issued a "buy" rating and a $425.00 target price for the company. Evercore ISI cut their target price on shares of Everest Group from $400.00 to $396.00 and set an "in-line" rating for the company in a report on Thursday, May 1st. Finally, UBS Group cut their target price on shares of Everest Group from $372.00 to $370.00 and set a "neutral" rating for the company in a report on Wednesday. Six equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Everest Group currently has an average 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 trading on Wednesday, hitting $340.31. The company's stock had a trading volume of 300,720 shares, compared to its average volume of 423,295. The company has a 50-day moving average of $341.23 and a 200-day moving average of $349.14. Everest Group has a 12 month low of $320.00 and a 12 month high of $407.30. 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 $14.48 billion, a price-to-earnings ratio of 17.51, a P/E/G ratio of 0.27 and a beta of 0.51.

Everest Group (NYSE:EG - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $6.45 earnings per share (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 analysts' expectations of $3.89 billion. Everest Group had a return on equity of 5.95% and a net margin of 4.88%. The company's revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the company posted $16.32 earnings per share. On average, sell-side analysts expect that Everest Group will post 47.93 earnings per share for the current year.

Everest Group Dividend Announcement

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

Insider Buying and Selling at Everest Group

In other Everest Group news, CEO James Allan Williamson bought 1,000 shares of the firm's stock in a transaction dated Wednesday, June 11th. The stock was acquired at an average cost of $337.97 per share, for a total transaction of $337,970.00. Following the completion of the transaction, the chief executive officer owned 25,618 shares in the company, valued at $8,658,115.46. This trade represents a 4.06% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.10% of the company's stock.

Hedge Funds Weigh In On Everest Group

Several institutional investors have recently made changes to their positions in EG. Sunbelt Securities Inc. purchased a new position in Everest Group in the fourth quarter valued at about $29,000. SVB Wealth LLC purchased a new position in Everest Group in the first quarter valued at about $30,000. SBI Securities Co. Ltd. purchased a new stake in shares of Everest Group during the fourth quarter worth about $31,000. Tsfg LLC purchased a new stake in shares of Everest Group during the first quarter worth about $33,000. Finally, Zions Bancorporation National Association UT purchased a new stake in shares of Everest Group during the first quarter worth about $34,000. Hedge funds and other 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.