Everest Group (NYSE:EG) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Key Points

• Stock analysts at Keefe, Bruyette & Woods have raised their price target for Everest Group from $405.00 to $416.00, indicating a potential upside of 26.76% based on the current stock price.
• The company reported $17.36 earnings per share for the last quarter, surpassing analysts' expectations of $15.14 and achieving revenue of $4.49 billion, reflecting a 6.2% year-over-year increase.
• Everest Group currently has a consensus rating of "Moderate Buy." A total of five analysts rated the stock as a hold, while five others issued a buy rating and one a strong buy rating.

Everest Group (NYSE:EG - Get Free Report) had its price objective upped by stock analysts at Keefe, Bruyette & Woods from $405.00 to $416.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Keefe, Bruyette & Woods' target price indicates a potential upside of 26.76% from the company's current price.

Other equities analysts have also recently issued research reports about the company. Wells Fargo & Company reiterated a "mixed" rating on shares of Everest Group in a report on Monday. Janney Montgomery Scott assumed coverage on Everest Group in a report on Friday, June 20th. They set a "buy" rating and a $425.00 price objective for the company. Raymond James Financial reissued a "strong-buy" rating and set a $410.00 target price (down from $420.00) on shares of Everest Group in a report on Tuesday, May 6th. Jefferies Financial Group raised Everest Group from a "hold" rating to a "buy" rating and boosted their price target for the company from $376.00 to $415.00 in a research note on Friday, April 11th. Finally, UBS Group reduced their price objective on shares of Everest Group from $372.00 to $370.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 9th. Five 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, Everest Group currently has a consensus rating of "Moderate Buy" and an average target price of $402.50.

Everest Group Stock Performance

Shares of EG stock opened at $328.17 on Wednesday. The stock has a 50-day moving average of $337.38 and a 200-day moving average of $345.37. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.38 and a quick ratio of 0.35. The stock has a market cap of $13.76 billion, a PE ratio of 17.42, a price-to-earnings-growth ratio of 0.24 and a beta of 0.50. Everest Group has a one year low of $320.00 and a one year high of $407.30.

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

Insider Buying and Selling at Everest Group

In other Everest Group news, CEO James Allan Williamson bought 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 transaction, the chief executive officer directly owned 25,618 shares in the company, valued at approximately $8,658,115.46. This trade represents a 4.06% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.10% of the company's stock.

Hedge Funds Weigh In On Everest Group

A number of institutional investors have recently modified their holdings of EG. Sunbelt Securities Inc. bought a new position in Everest Group during the 4th quarter valued at $29,000. SVB Wealth LLC purchased a new stake in shares of Everest Group in the first quarter valued at about $30,000. Tsfg LLC bought a new position in shares of Everest Group during the first quarter valued at about $33,000. Zions Bancorporation National Association UT purchased a new stake in Everest Group in the 1st quarter valued at about $34,000. Finally, Board of the Pension Protection Fund bought a new position in shares of Everest Group during the 2nd quarter worth approximately $34,000. 92.64% of the stock is owned by institutional investors and hedge funds.

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.

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