Everest Group (NYSE:EG) Coverage Initiated at Janney Montgomery Scott

Janney Montgomery Scott started coverage on shares of Everest Group (NYSE:EGFree Report) in a research report report published on Friday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $425.00 target price on the stock.

Several other equities analysts have also recently commented on the stock. Evercore ISI dropped their target price on shares of Everest Group from $400.00 to $396.00 and set an “in-line” rating on the stock in a research report on Thursday, May 1st. Raymond James Financial reissued a “strong-buy” rating and set a $410.00 target price (down previously from $420.00) on shares of Everest Group in a research report on Tuesday, May 6th. Jefferies Financial Group raised shares of Everest Group from a “hold” rating to a “buy” rating and lifted their price target for the stock from $376.00 to $415.00 in a report on Friday, April 11th. Keefe, Bruyette & Woods lowered their price target on shares of Everest Group from $434.00 to $402.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. Finally, Wells Fargo & Company lowered their price target on shares of Everest Group from $362.00 to $361.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 6th. Six analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Everest Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $400.33.

View Our Latest Stock Analysis on EG

Everest Group Price Performance

Everest Group stock opened at $336.79 on Friday. Everest Group has a 52 week low of $320.00 and a 52 week high of $407.30. The company’s 50 day moving average price is $345.01 and its two-hundred day moving average price is $351.26. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.25. The stock has a market cap of $14.32 billion, a P/E ratio of 17.32, a P/E/G ratio of 0.26 and a beta of 0.53.

Everest Group (NYSE:EGGet Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $6.45 EPS for the quarter, missing the consensus estimate of $7.46 by ($1.01). Everest Group had a return on equity of 5.95% and a net margin of 4.88%. The firm had revenue of $4.26 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same period in the prior year, the business earned $16.32 EPS. Everest Group’s quarterly revenue was up 3.1% compared to the same quarter last year. On average, equities analysts predict that Everest Group will post 47.93 earnings per share for the current year.

Everest Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Wednesday, May 28th were issued a dividend of $2.00 per share. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $8.00 dividend on an annualized basis and a yield of 2.38%. Everest Group’s payout ratio is 41.15%.

Insider Buying and Selling at Everest Group

In other Everest Group news, CEO James Allan Williamson bought 1,000 shares of the stock in a transaction on Wednesday, June 11th. The shares were acquired at an average price of $337.97 per share, with a total value of $337,970.00. Following the acquisition, the chief executive officer now directly owns 25,618 shares of the company’s stock, valued at $8,658,115.46. The trade was a 4.06% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Everest Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wedge Capital Management L L P NC raised its holdings in Everest Group by 14.3% during the 1st quarter. Wedge Capital Management L L P NC now owns 9,871 shares of the company’s stock valued at $3,586,000 after acquiring an additional 1,235 shares during the period. Fifth Third Bancorp raised its holdings in Everest Group by 18.1% during the 1st quarter. Fifth Third Bancorp now owns 1,151 shares of the company’s stock valued at $418,000 after acquiring an additional 176 shares during the period. JPMorgan Chase & Co. raised its holdings in Everest Group by 39.9% during the 4th quarter. JPMorgan Chase & Co. now owns 109,775 shares of the company’s stock valued at $39,789,000 after acquiring an additional 31,306 shares during the period. SG Americas Securities LLC grew its position in shares of Everest Group by 127.3% during the 1st quarter. SG Americas Securities LLC now owns 5,842 shares of the company’s stock valued at $2,123,000 after purchasing an additional 3,272 shares in the last quarter. Finally, Merit Financial Group LLC purchased a new position in shares of Everest Group during the 1st quarter valued at $512,000. Institutional investors own 92.64% of the company’s stock.

Everest Group Company Profile

(Get Free Report)

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.

Recommended Stories

Analyst Recommendations for Everest Group (NYSE:EG)

Receive News & Ratings for Everest Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Everest Group and related companies with MarketBeat.com's FREE daily email newsletter.