Everest Group (NYSE:EG) Price Target Raised to $405.00

Everest Group (NYSE:EG - Get Free Report) had its target price upped by investment analysts at Keefe, Bruyette & Woods from $402.00 to $405.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Keefe, Bruyette & Woods' price objective would indicate a potential upside of 18.79% from the company's current price.

EG has been the topic of a number of other reports. Morgan Stanley increased their price target on Everest Group from $330.00 to $350.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. 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 note on Monday. Jefferies Financial Group upgraded shares of Everest Group from a "hold" rating to a "buy" rating and upped their price objective for the company from $376.00 to $415.00 in a report on Friday, April 11th. UBS Group reduced their target price on shares of Everest Group from $372.00 to $370.00 and set a "neutral" rating for the company in a research report on Wednesday. Finally, Wells Fargo & Company lowered 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 assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Everest Group currently has a consensus rating of "Moderate Buy" and an average target price of $400.75.

Everest Group Trading Down 0.1%

NYSE EG traded down $0.48 during trading hours on Wednesday, reaching $340.94. The company had a trading volume of 94,386 shares, compared to its average volume of 403,037. The stock has a 50-day moving average of $341.60 and a 200 day moving average of $349.20. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.25. Everest Group has a 1-year low of $320.00 and a 1-year high of $407.30. The stock has a market capitalization of $14.50 billion, a P/E ratio of 17.53, a price-to-earnings-growth ratio of 0.26 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 earnings per share for the quarter, missing the consensus estimate of $7.46 by ($1.01). Everest Group had a net margin of 4.88% and a return on equity of 5.95%. The firm had revenue of $4.26 billion during the quarter, compared to analyst estimates of $3.89 billion. During the same period in the prior year, the firm earned $16.32 earnings per share. The business's revenue for the quarter was up 3.1% on a year-over-year basis. As a group, research analysts anticipate that Everest Group will post 47.93 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO James Allan Williamson acquired 1,000 shares of Everest Group stock in a transaction on Wednesday, June 11th. The stock was 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 in the company, valued at $8,658,115.46. This trade represents a 4.06% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.10% of the company's stock.

Hedge Funds Weigh In On Everest Group

A number of institutional investors and hedge funds have recently modified their holdings of the business. Fifth Third Bancorp raised its holdings in shares of Everest Group by 18.1% in the 1st quarter. Fifth Third Bancorp now owns 1,151 shares of the company's stock valued at $418,000 after acquiring an additional 176 shares in the last quarter. Wedge Capital Management L L P NC boosted 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 worth $3,586,000 after acquiring an additional 1,235 shares during the period. Sowell Financial Services LLC purchased a new stake in Everest Group during the first quarter valued at approximately $231,000. SG Americas Securities LLC increased its holdings in Everest Group by 127.3% during the 1st quarter. SG Americas Securities LLC now owns 5,842 shares of the company's stock worth $2,123,000 after purchasing an additional 3,272 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Everest Group by 39.9% in the 4th quarter. JPMorgan Chase & Co. now owns 109,775 shares of the company's stock worth $39,789,000 after purchasing an additional 31,306 shares in the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.