Everest Group (NYSE:EG) Given Equal Weight Rating at Morgan Stanley

Morgan Stanley restated their equal weight rating on shares of Everest Group (NYSE:EG) in a research note published on Wednesday morning, MarketBeat reports. They currently have a $340.00 target price on the stock, down from their prior target price of $425.00.

Other equities research analysts have also issued reports about the company. Bank of America reduced their price target on Everest Group from $496.00 to $485.00 and set a “buy” rating for the company in a report on Thursday, October 10th. Keefe, Bruyette & Woods lifted their target price on shares of Everest Group from $420.00 to $434.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. TD Cowen dropped their price target on shares of Everest Group from $444.00 to $419.00 and set a “hold” rating on the stock in a research note on Monday, November 18th. Barclays lifted their price objective on shares of Everest Group from $461.00 to $470.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Wells Fargo & Company lowered their target price on shares of Everest Group from $390.00 to $380.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $411.89.

Everest Group Stock Performance

Shares of Everest Group stock opened at $339.29 on Wednesday. Everest Group has a 12 month low of $335.34 and a 12 month high of $407.30. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.22. The stock has a market cap of $14.58 billion, a PE ratio of 5.31, a price-to-earnings-growth ratio of 2.50 and a beta of 0.65. The business has a fifty day simple moving average of $362.54 and a 200-day simple moving average of $374.14.

Everest Group (NYSE:EG) last announced its quarterly earnings data on Monday, February 3rd. The company reported ($18.39) EPS for the quarter, missing analysts’ consensus estimates of $11.64 by ($30.03). Everest Group had a return on equity of 22.45% and a net margin of 16.99%. On average, sell-side analysts anticipate that Everest Group will post 36.3 EPS for the current fiscal year.

Insider Activity

In other news, COO James Allan Williamson sold 200 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $370.00, for a total transaction of $74,000.00. Following the completion of the transaction, the chief operating officer now owns 15,009 shares of the company’s stock, valued at approximately $5,553,330. This represents a 1.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Everest Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. MMA Asset Management LLC acquired a new stake in shares of Everest Group during the 4th quarter worth approximately $278,000. Metis Global Partners LLC lifted its position in Everest Group by 69.6% in the fourth quarter. Metis Global Partners LLC now owns 2,368 shares of the company’s stock worth $858,000 after purchasing an additional 972 shares during the period. Waterway Wealth Management LLC boosted its stake in Everest Group by 41.2% during the fourth quarter. Waterway Wealth Management LLC now owns 1,062 shares of the company’s stock worth $385,000 after buying an additional 310 shares in the last quarter. Private Trust Co. NA increased its holdings in Everest Group by 48.5% in the 4th quarter. Private Trust Co. NA now owns 196 shares of the company’s stock valued at $71,000 after buying an additional 64 shares during the period. Finally, Anchor Capital Advisors LLC raised its stake in shares of Everest Group by 2.6% in the 4th quarter. Anchor Capital Advisors LLC now owns 6,208 shares of the company’s stock valued at $2,250,000 after buying an additional 155 shares in the last quarter. 92.64% of the stock is currently owned by institutional investors.

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.