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

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

Several other equities research analysts also recently commented on EG. Wells Fargo & Company cut their price objective on 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 upgraded Everest Group from a "hold" rating to a "buy" rating and increased their price target for the company from $376.00 to $415.00 in a research note on Friday, April 11th. Evercore ISI dropped their price target on Everest Group from $400.00 to $396.00 and set an "in-line" rating on the stock in a research note on Thursday, May 1st. Raymond James Financial restated a "strong-buy" rating and issued a $410.00 price target (down previously from $420.00) on shares of Everest Group in a research note on Tuesday, May 6th. Finally, Janney Montgomery Scott started coverage on Everest Group in a research note on Friday, June 20th. They issued a "buy" rating and a $425.00 price target on the stock. 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $400.83.

Everest Group Stock Down 0.4%

NYSE:EG traded down $1.27 during trading hours on Wednesday, reaching $339.18. 294,103 shares of the stock were exchanged, compared to its average volume of 405,015. Everest Group has a twelve month low of $320.00 and a twelve 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 50 day moving average of $341.09 and a 200 day moving average of $348.85. The stock has a market cap of $14.43 billion, a PE ratio of 17.45, a PEG ratio of 0.27 and a beta of 0.51.

Everest Group (NYSE:EG - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $6.45 EPS for the quarter, missing the consensus estimate of $7.46 by ($1.01). The company 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 quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the company posted $16.32 EPS. On average, equities analysts expect that Everest Group will post 47.93 earnings per share for the current year.

Everest Group Announces Dividend

The company also recently announced 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. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date of this dividend was Wednesday, May 28th. Everest Group's dividend payout ratio is currently 41.15%.

Insider Buying and Selling at Everest Group

In other news, CEO James Allan Williamson bought 1,000 shares of the company's 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 acquisition, the chief executive officer owned 25,618 shares of the company's stock, valued at $8,658,115.46. This represents a 4.06% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.10% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of EG. SBI Securities Co. Ltd. bought a new position in shares of Everest Group in the fourth quarter worth $31,000. Atria Investments Inc acquired a new stake in Everest Group in the fourth quarter valued at about $581,000. Proficio Capital Partners LLC acquired a new stake in Everest Group in the fourth quarter valued at about $10,247,000. Raymond James Financial Inc. bought a new position in Everest Group in the fourth quarter valued at about $48,290,000. Finally, Callan Family Office LLC bought a new position in Everest Group in the fourth quarter valued at 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.