Keefe, Bruyette & Woods Issues Pessimistic Forecast for Everest Group (NYSE:EG) Stock Price

Everest Group (NYSE:EG) had its price objective decreased by Keefe, Bruyette & Woods from $414.00 to $407.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 8.64% from the company’s previous close.

EG has been the subject of several other reports. Citigroup upped their price target on shares of Everest Group from $395.00 to $415.00 and gave the company a “neutral” rating in a research report on Friday, July 31st. Rosenblatt Securities set a $455.00 price objective on shares of Everest Group in a research note on Tuesday, September 22nd. Cantor Fitzgerald boosted their price objective on shares of Everest Group from $344.00 to $390.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Royal Bank Of Canada initiated coverage on Everest Group in a report on Tuesday, September 22nd. They issued an “outperform” rating and a $455.00 price objective for the company. Finally, Wells Fargo & Company raised their target price on Everest Group from $373.00 to $396.00 and gave the stock an “equal weight” rating in a research report on Friday, July 31st. Five investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $407.94.

Everest Group Stock Performance

NYSE:EG opened at $374.64 on Monday. The stock’s 50-day moving average is $372.19 and its 200-day moving average is $358.05. Everest Group has a 1-year low of $302.44 and a 1-year high of $401.07. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.23. The stock has a market cap of $14.36 billion, a P/E ratio of 7.92, a price-to-earnings-growth ratio of 0.55 and a beta of 0.26.

Everest Group (NYSE:EG) last issued its quarterly earnings data on Tuesday, June 30th. The company reported $14.85 earnings per share (EPS) for the quarter. Everest Group had a net margin of 11.41% and a return on equity of 13.63%. The business had revenue of $3.96 billion during the quarter. Equities research analysts anticipate that Everest Group will post 54.49 earnings per share for the current year.

Institutional Trading of Everest Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EG. Bank of America Corp DE bought a new stake in shares of Everest Group during the 2nd quarter valued at about $108,102,000. William Blair Investment Management LLC acquired a new stake in Everest Group during the second quarter worth approximately $171,426,000. The Manufacturers Life Insurance Company acquired a new stake in Everest Group during the second quarter worth approximately $9,122,000. Polianta Ltd bought a new stake in Everest Group in the second quarter worth approximately $2,000,000. Finally, Public Employees Retirement System of Ohio bought a new stake in Everest Group in the second quarter worth approximately $5,351,000. Institutional investors and hedge funds own 92.64% of the company’s stock.

About Everest Group

Everest Group, Ltd. is a global specialty insurance and reinsurance company headquartered in Hamilton, Bermuda. The company provides risk-management and underwriting solutions to businesses, institutions, and insurance companies through its insurance and reinsurance operations.

Everest’s products and services include property and casualty insurance, specialty insurance, and reinsurance coverage. Its offerings address a range of risks, including property, casualty, workers’ compensation, professional liability, marine, aviation, accident and health, and other specialty exposures.