Everest Group (NYSE:EG) PT Raised to $393.00

Everest Group (NYSE:EG) had its price target raised by equities researchers at Wells Fargo & Company from $392.00 to $393.00 in a report released on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential upside of 8.13% from the stock’s previous close.

Several other analysts have also recently weighed in on EG. Keefe, Bruyette & Woods dropped their price objective on shares of Everest Group from $454.00 to $438.00 and set an “outperform” rating for the company in a research note on Thursday. Bank of America raised their target price on shares of Everest Group from $470.00 to $493.00 and gave the company a “buy” rating in a report on Thursday, July 11th. BMO Capital Markets increased their price target on shares of Everest Group from $387.00 to $403.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 7th. Finally, Morgan Stanley dropped their target price on shares of Everest Group from $450.00 to $445.00 and set an “overweight” rating for the company in a report on Wednesday, July 10th. Four analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $432.45.

Everest Group Stock Down 0.3 %

EG traded down $1.05 on Monday, hitting $363.45. 81,506 shares of the company were exchanged, compared to its average volume of 335,030. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.38 and a current ratio of 0.38. The stock’s fifty day moving average is $377.92 and its 200-day moving average is $377.57. The company has a market cap of $15.73 billion, a PE ratio of 5.40, a PEG ratio of 2.16 and a beta of 0.63. Everest Group has a 12 month low of $343.36 and a 12 month high of $417.92.

Everest Group (NYSE:EG) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $16.85 EPS for the quarter, missing analysts’ consensus estimates of $16.97 by ($0.12). The business had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.32 billion. Everest Group had a return on equity of 24.09% and a net margin of 18.36%. The company’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $15.21 EPS. Equities research analysts predict that Everest Group will post 61.6 EPS for the current fiscal year.

Hedge Funds Weigh In On Everest Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. purchased a new position in shares of Everest Group during the fourth quarter worth about $1,886,055,000. Wellington Management Group LLP purchased a new stake in shares of Everest Group in the fourth quarter valued at $751,457,000. Boston Partners lifted its position in Everest Group by 29.1% during the first quarter. Boston Partners now owns 1,197,457 shares of the company’s stock worth $475,750,000 after buying an additional 269,665 shares during the period. Franklin Resources Inc. acquired a new position in shares of Everest Group during the 4th quarter valued at about $373,130,000. Finally, Champlain Investment Partners LLC lifted its holdings in shares of Everest Group by 5.3% during the 1st quarter. Champlain Investment Partners LLC now owns 906,100 shares of the company’s stock worth $360,175,000 after acquiring an additional 45,705 shares during the period. Institutional investors and hedge funds own 92.64% of the company’s stock.

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.