Everest Group (NYSE:EG) Lowered to “Hold” Rating by Jefferies Financial Group

Everest Group (NYSE:EG) was downgraded by stock analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday,Briefing.com Automated Import reports. They currently have a $429.00 price target on the stock, up from their prior price target of $420.00. Jefferies Financial Group’s price target indicates a potential upside of 9.91% from the company’s previous close.

A number of other research analysts also recently commented on EG. Keefe, Bruyette & Woods lowered their price target on shares of Everest Group from $454.00 to $438.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Barclays decreased their price objective on shares of Everest Group from $527.00 to $517.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. TD Cowen dropped their price target on Everest Group from $444.00 to $419.00 and set a “hold” rating on the stock in a research report on Monday, November 18th. Bank of America cut their price objective on shares of Everest Group from $496.00 to $485.00 and set a “buy” rating on the stock in a report on Thursday, October 10th. Finally, BMO Capital Markets decreased their price target on shares of Everest Group from $383.00 to $372.00 and set a “market perform” rating for the company in a research report on Thursday, November 14th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Everest Group presently has a consensus rating of “Hold” and an average price target of $431.30.

Everest Group Price Performance

NYSE EG opened at $390.31 on Tuesday. The company’s 50 day moving average is $380.77 and its two-hundred day moving average is $380.80. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.22. The stock has a market cap of $16.78 billion, a price-to-earnings ratio of 6.11, a PEG ratio of 2.88 and a beta of 0.63. Everest Group has a 12 month low of $343.76 and a 12 month high of $417.04.

Insider Activity

In related news, COO James Allan Williamson sold 200 shares of Everest Group stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $370.00, for a total transaction of $74,000.00. Following the transaction, the chief operating officer now owns 15,009 shares in the company, valued at approximately $5,553,330. The trade was a 1.32 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Mike Karmilowicz sold 269 shares of the business’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $348.48, for a total transaction of $93,741.12. Following the completion of the transaction, the executive vice president now owns 12,726 shares in the company, valued at $4,434,756.48. This represents a 2.07 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in EG. Synovus Financial Corp grew its position in Everest Group by 116.4% during the third quarter. Synovus Financial Corp now owns 4,561 shares of the company’s stock valued at $1,787,000 after purchasing an additional 2,453 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Everest Group in the third quarter valued at about $64,000. World Investment Advisors LLC bought a new stake in Everest Group in the third quarter valued at about $350,000. Sanctuary Advisors LLC boosted its stake in shares of Everest Group by 7.0% in the 3rd quarter. Sanctuary Advisors LLC now owns 1,366 shares of the company’s stock valued at $531,000 after purchasing an additional 89 shares in the last quarter. Finally, Pine Valley Investments Ltd Liability Co bought a new stake in Everest Group during the 3rd quarter worth approximately $2,551,000. 92.64% of the stock is currently owned by institutional investors.

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.