Everest Group (NYSE:EG) Price Target Cut to $517.00 by Analysts at Barclays

Everest Group (NYSE:EG) had its target price reduced by Barclays from $527.00 to $517.00 in a report published on Thursday morning, Benzinga reports. They currently have an overweight rating on the stock.

Several other research firms also recently weighed in on EG. UBS Group upgraded shares of Everest Group to a “hold” rating in a report on Wednesday, October 9th. BMO Capital Markets reissued a “market perform” rating and set a $403.00 price objective on shares of Everest Group in a research note on Friday, August 30th. Bank of America reduced their target price on Everest Group from $496.00 to $485.00 and set a “buy” rating on the stock in a research note on Thursday, October 10th. Wells Fargo & Company raised their price target on Everest Group from $393.00 to $406.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Finally, Keefe, Bruyette & Woods reduced their price objective on Everest Group from $454.00 to $438.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Five research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $438.36.

Everest Group Stock Down 1.3 %

Shares of NYSE EG opened at $350.97 on Thursday. The stock has a market capitalization of $15.11 billion, a price-to-earnings ratio of 5.49, a price-to-earnings-growth ratio of 2.50 and a beta of 0.63. Everest Group has a 52 week low of $343.76 and a 52 week high of $417.92. The firm has a 50-day moving average price of $386.10 and a 200 day moving average price of $380.72. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.22.

Everest Group (NYSE:EG) last posted its earnings results on Wednesday, July 31st. The company reported $16.85 earnings per share for the quarter, missing the consensus estimate of $16.97 by ($0.12). The firm had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.32 billion. Everest Group had a net margin of 16.99% and a return on equity of 22.45%. The firm’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same period last year, the company posted $15.21 EPS. Equities research analysts anticipate that Everest Group will post 60.97 EPS for the current fiscal year.

Everest Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Monday, September 16th were paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date was Monday, September 16th. Everest Group’s dividend payout ratio is currently 12.52%.

Hedge Funds Weigh In On Everest Group

A number of large investors have recently bought and sold shares of EG. SG Americas Securities LLC increased its stake in Everest Group by 284.8% during the third quarter. SG Americas Securities LLC now owns 24,556 shares of the company’s stock worth $9,622,000 after acquiring an additional 18,175 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Everest Group by 163.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,772 shares of the company’s stock worth $1,897,000 after acquiring an additional 2,964 shares during the last quarter. Whittier Trust Co. acquired a new stake in shares of Everest Group in the first quarter valued at about $1,505,000. Clearbridge Investments LLC grew its stake in shares of Everest Group by 1.5% in the first quarter. Clearbridge Investments LLC now owns 289,439 shares of the company’s stock valued at $115,052,000 after buying an additional 4,412 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in shares of Everest Group in the second quarter valued at about $921,000. Hedge funds and other institutional investors own 92.64% of the company’s stock.

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.