Everest Group (NYSE:EG) Stock Price Up 4.7% on Analyst Upgrade

Everest Group, Ltd. (NYSE:EG) was up 4.7% during trading on Wednesday after Wells Fargo & Company raised their price target on the stock from $393.00 to $406.00. Wells Fargo & Company currently has an equal weight rating on the stock. Everest Group traded as high as $391.99 and last traded at $391.20. Approximately 295,797 shares traded hands during trading, a decline of 12% from the average daily volume of 336,440 shares. The stock had previously closed at $373.73.

EG has been the subject of a number of other reports. BMO Capital Markets reissued a “market perform” rating and issued a $403.00 price objective on shares of Everest Group in a research report on Friday, August 30th. Keefe, Bruyette & Woods lowered their price objective on Everest Group from $454.00 to $438.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. TD Cowen cut their target price on Everest Group from $419.00 to $405.00 and set a “hold” rating on the stock in a research report on Tuesday, August 13th. Morgan Stanley reduced their target price on Everest Group from $450.00 to $445.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. Finally, Jefferies Financial Group lifted their price target on shares of Everest Group from $440.00 to $457.00 and gave the stock a “buy” rating in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $439.27.

Hedge Funds Weigh In On Everest Group

Institutional investors have recently made changes to their positions in the stock. Gilman Hill Asset Management LLC grew its position in shares of Everest Group by 0.9% during the third quarter. Gilman Hill Asset Management LLC now owns 7,008 shares of the company’s stock worth $2,746,000 after acquiring an additional 60 shares during the last quarter. Capital Insight Partners LLC boosted its stake in Everest Group by 3.9% during the 3rd quarter. Capital Insight Partners LLC now owns 1,928 shares of the company’s stock valued at $755,000 after purchasing an additional 72 shares during the period. Bruce G. Allen Investments LLC grew its position in Everest Group by 200.0% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 78 shares of the company’s stock worth $31,000 after purchasing an additional 52 shares during the last quarter. Wedmont Private Capital increased its stake in shares of Everest Group by 4.8% in the third quarter. Wedmont Private Capital now owns 638 shares of the company’s stock valued at $238,000 after purchasing an additional 29 shares during the period. Finally, Daymark Wealth Partners LLC raised its holdings in shares of Everest Group by 9.8% during the third quarter. Daymark Wealth Partners LLC now owns 2,250 shares of the company’s stock valued at $882,000 after buying an additional 200 shares during the last quarter. 92.64% of the stock is owned by institutional investors.

Everest Group Stock Performance

The company has a market cap of $16.96 billion, a P/E ratio of 5.85, a PEG ratio of 2.83 and a beta of 0.61. The stock has a fifty day moving average price of $382.30 and a two-hundred day moving average price of $380.67. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.38 and a quick ratio of 0.38.

Everest Group (NYSE:EG) last released its quarterly earnings results on Wednesday, July 31st. The company reported $16.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $16.97 by ($0.12). Everest Group had a return on equity of 24.09% and a net margin of 18.36%. The business had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.32 billion. During the same period in the previous year, the company posted $15.21 EPS. The company’s revenue for the quarter was up 15.8% compared to the same quarter last year. On average, equities analysts forecast that Everest Group, Ltd. will post 61.66 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Monday, September 16th were given a dividend of $2.00 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.03%. Everest Group’s dividend payout ratio (DPR) is 11.89%.

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.