Barclays Issues Positive Forecast for Everest Group (NYSE:EG) Stock Price

Everest Group (NYSE:EG - Free Report) had its price target increased by Barclays from $394.00 to $398.00 in a research report report published on Monday,Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other research analysts have also commented on EG. Wells Fargo & Company lowered their price objective on shares of Everest Group from $362.00 to $361.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 6th. Janney Montgomery Scott initiated coverage on shares of Everest Group in a research report on Friday, June 20th. They issued a "buy" rating and a $425.00 price target for the company. Jefferies Financial Group raised shares of Everest Group from a "hold" rating to a "buy" rating and raised their price target for the company from $376.00 to $415.00 in a research report on Friday, April 11th. Morgan Stanley lifted their target price on Everest Group from $330.00 to $350.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. Finally, Evercore ISI decreased their target price 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. Six investment 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 stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $400.67.

Everest Group Trading Down 1.0%

Shares of NYSE:EG traded down $3.44 during mid-day trading on Monday, reaching $334.04. 243,605 shares of the company were exchanged, compared to its average volume of 403,263. 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 $14.21 billion, a price-to-earnings ratio of 17.18, a P/E/G ratio of 0.26 and a beta of 0.51. The firm's 50-day simple moving average is $341.96 and its 200 day simple moving average is $349.26. Everest Group has a 1 year low of $320.00 and a 1 year high of $407.30.

Everest Group (NYSE:EG - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $6.45 EPS for the quarter, missing the consensus estimate of $7.46 by ($1.01). Everest Group had a return on equity of 5.95% and a net margin of 4.88%. The firm had revenue of $4.26 billion for the quarter, compared to analysts' expectations of $3.89 billion. During the same quarter in the prior year, the business earned $16.32 earnings per share. The company's quarterly revenue was up 3.1% on a year-over-year basis. Equities research analysts forecast that Everest Group will post 47.93 EPS for the current year.

Everest Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders 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 yield of 2.39%. The ex-dividend date was Wednesday, May 28th. Everest Group's dividend payout ratio (DPR) is 41.15%.

Insider Transactions at Everest Group

In other Everest Group news, CEO James Allan Williamson purchased 1,000 shares of the firm's stock in a transaction on Wednesday, June 11th. The stock was bought at an average cost of $337.97 per share, with a total value of $337,970.00. Following the acquisition, the chief executive officer directly owned 25,618 shares of the company's stock, valued at approximately $8,658,115.46. This represents a 4.06% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Everest Group

Several institutional investors have recently added to or reduced their stakes in the business. Sunbelt Securities Inc. purchased a new stake in Everest Group in the fourth quarter valued at $29,000. SVB Wealth LLC purchased a new stake in shares of Everest Group in the 1st quarter valued at about $30,000. SBI Securities Co. Ltd. purchased a new stake in shares of Everest Group in the 4th quarter valued at about $31,000. Tsfg LLC purchased a new stake in shares of Everest Group in the 1st quarter valued at about $33,000. Finally, Zions Bancorporation National Association UT purchased a new stake in shares of Everest Group in the 1st quarter valued at about $34,000. Hedge funds and other 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.