Everest Group (NYSE:EG) Raised to "Hold" at Cantor Fitzgerald

Key Points

• Everest Group was upgraded to a "hold" rating by Cantor Fitzgerald, indicating a shift in analysts' outlook on the stock.
• Analysts have varied opinions on Everest Group, with a consensus rating of "Moderate Buy" and a price target averaging $397.14.
• In its latest earnings report, Everest Group exceeded expectations with an EPS of $17.36, beating the consensus estimate by $2.22.

Everest Group (NYSE:EG - Get Free Report) was upgraded by analysts at Cantor Fitzgerald to a "hold" rating in a note issued to investors on Wednesday,Zacks.com reports.

Several other equities analysts have also issued reports on EG. Keefe, Bruyette & Woods lifted their price target on shares of Everest Group from $405.00 to $416.00 and gave the stock an "outperform" rating in a report on Wednesday, August 6th. Janney Montgomery Scott assumed coverage on Everest Group in a research report on Friday, June 20th. They issued a "buy" rating and a $425.00 price objective for the company. Citigroup started coverage on Everest Group in a research report on Wednesday. They set a "neutral" rating and a $362.00 target price on the stock. Raymond James Financial reiterated a "strong-buy" rating and issued a $410.00 price target (down from $420.00) on shares of Everest Group in a research note on Tuesday, May 6th. Finally, Evercore ISI lowered their price target on Everest Group from $400.00 to $396.00 and set an "in-line" rating for the company in a report on Thursday, May 1st. Seven analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $397.14.

Everest Group Price Performance

Shares of EG stock opened at $336.53 on Wednesday. The stock's 50-day moving average is $335.48 and its 200 day moving average is $344.10. Everest Group has a 1-year low of $320.00 and a 1-year high of $407.30. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.38 and a quick ratio of 0.38. The company has a market cap of $14.11 billion, a P/E ratio of 17.86, a PEG ratio of 0.24 and a beta of 0.50.

Everest Group (NYSE:EG - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $17.36 EPS for the quarter, beating the consensus estimate of $15.14 by $2.22. Everest Group had a net margin of 4.56% and a return on equity of 5.89%. The business had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.22 billion. During the same period in the prior year, the firm posted $16.85 earnings per share. The company's quarterly revenue was up 6.2% on a year-over-year basis. Research analysts predict that Everest Group will post 47.93 earnings per share for the current fiscal year.

Insider Activity at Everest Group

In other Everest Group news, CEO James Allan Williamson purchased 1,000 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The shares were bought at an average price of $337.97 per share, for a total transaction of $337,970.00. Following the acquisition, the chief executive officer owned 25,618 shares in the company, valued at $8,658,115.46. This represents a 4.06% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Flagship Harbor Advisors LLC increased its holdings in shares of Everest Group by 3.7% during the 1st quarter. Flagship Harbor Advisors LLC now owns 843 shares of the company's stock valued at $306,000 after purchasing an additional 30 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. grew its position in Everest Group by 3.0% during the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 1,025 shares of the company's stock valued at $372,000 after buying an additional 30 shares during the period. Legacy Advisors LLC raised its position in shares of Everest Group by 5.5% in the first quarter. Legacy Advisors LLC now owns 599 shares of the company's stock worth $218,000 after acquiring an additional 31 shares during the period. Farther Finance Advisors LLC raised its position in shares of Everest Group by 4.3% in the second quarter. Farther Finance Advisors LLC now owns 816 shares of the company's stock worth $277,000 after acquiring an additional 34 shares during the period. Finally, Nissay Asset Management Corp Japan ADV boosted its stake in shares of Everest Group by 0.7% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 5,315 shares of the company's stock worth $1,913,000 after acquiring an additional 36 shares in the last quarter. 92.64% of the stock is owned by institutional investors and hedge funds.

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.

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