Everest Group (NYSE:EG) PT Lowered to $450.00

Everest Group (NYSE:EG) had its price objective cut by Morgan Stanley from $466.00 to $450.00 in a report published on Monday, Benzinga reports. They currently have an overweight rating on the stock.

Several other research firms also recently commented on EG. Wells Fargo & Company decreased their target price on shares of Everest Group from $402.00 to $397.00 and set an equal weight rating for the company in a research report on Thursday, April 11th. Keefe, Bruyette & Woods boosted their target price on shares of Everest Group from $445.00 to $457.00 and gave the stock an outperform rating in a research report on Wednesday, April 10th. TD Cowen started coverage on shares of Everest Group in a research report on Wednesday, January 10th. They issued a market perform rating and a $421.00 target price for the company. Finally, Citigroup downgraded shares of Everest Group from a buy rating to a neutral rating and decreased their price objective for the stock from $452.00 to $375.00 in a report on Monday, February 12th. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $432.11.

Everest Group Stock Up 0.9 %

EG stock opened at $360.26 on Monday. Everest Group has a 52-week low of $331.08 and a 52-week high of $417.92. The company’s 50 day simple moving average is $375.63 and its 200-day simple moving average is $380.20. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.37 and a quick ratio of 0.37. The firm has a market capitalization of $19.19 billion, a P/E ratio of 6.03, a P/E/G ratio of 3.18 and a beta of 0.56.

Everest Group (NYSE:EG) last released its quarterly earnings data on Wednesday, February 7th. The company reported $25.18 earnings per share for the quarter, beating the consensus estimate of $14.63 by $10.55. The firm had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.85 billion. Everest Group had a net margin of 17.26% and a return on equity of 25.05%. The company’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $12.21 EPS. As a group, equities research analysts anticipate that Everest Group will post 61.21 EPS for the current year.

Everest Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Tuesday, March 19th were issued a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend was Monday, March 18th. Everest Group’s dividend payout ratio (DPR) is presently 11.72%.

Insider Buying and Selling at Everest Group

In related news, COO James Allan Williamson purchased 700 shares of Everest Group stock in a transaction on Friday, February 9th. The stock was purchased at an average cost of $352.50 per share, with a total value of $246,750.00. Following the acquisition, the chief operating officer now directly owns 11,749 shares in the company, valued at $4,141,522.50. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Roger M. Singer purchased 500 shares of Everest Group stock in a transaction on Monday, February 12th. The stock was purchased at an average cost of $357.21 per share, with a total value of $178,605.00. Following the acquisition, the director now directly owns 16,920 shares in the company, valued at $6,043,993.20. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, COO James Allan Williamson purchased 700 shares of Everest Group stock in a transaction on Friday, February 9th. The stock was bought at an average cost of $352.50 per share, with a total value of $246,750.00. Following the completion of the acquisition, the chief operating officer now owns 11,749 shares in the company, valued at $4,141,522.50. The disclosure for this purchase can be found here. Insiders purchased a total of 2,485 shares of company stock valued at $874,786 in the last ninety days. Company insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Everest Group

A number of hedge funds have recently made changes to their positions in EG. Assenagon Asset Management S.A. acquired a new position in shares of Everest Group in the 4th quarter valued at $1,866,000. Red Door Wealth Management LLC acquired a new position in shares of Everest Group in the 4th quarter valued at $237,000. Uncommon Cents Investing LLC acquired a new position in shares of Everest Group in the 4th quarter valued at $1,016,000. Traynor Capital Management Inc. acquired a new position in shares of Everest Group in the 4th quarter valued at $466,000. Finally, Global Retirement Partners LLC acquired a new position in shares of Everest Group in the 4th quarter valued at $102,000. 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.