TD Cowen Has Lowered Expectations for Everest Group (NYSE:EG) Stock Price

Everest Group (NYSE:EG) had its price target lowered by equities research analysts at TD Cowen from $400.00 to $365.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. TD Cowen’s target price indicates a potential upside of 11.49% from the company’s current price.

Several other brokerages also recently weighed in on EG. Wall Street Zen downgraded Everest Group from a “buy” rating to a “hold” rating in a report on Sunday, November 2nd. Keefe, Bruyette & Woods reduced their target price on shares of Everest Group from $424.00 to $400.00 and set an “outperform” rating on the stock in a report on Thursday, October 30th. Wells Fargo & Company lowered their price target on shares of Everest Group from $383.00 to $343.00 and set an “equal weight” rating for the company in a report on Wednesday, October 29th. Raymond James Financial restated an “outperform” rating and issued a $350.00 price objective on shares of Everest Group in a report on Monday, November 3rd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Everest Group in a research note on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $367.87.

Everest Group Price Performance

Shares of EG opened at $327.38 on Monday. The company has a market cap of $13.74 billion, a P/E ratio of 24.93, a PEG ratio of 0.29 and a beta of 0.39. Everest Group has a fifty-two week low of $302.44 and a fifty-two week high of $373.23. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.23. The firm’s 50 day moving average price is $325.97 and its 200 day moving average price is $334.60.

Everest Group (NYSE:EG) last posted its quarterly earnings results on Monday, October 27th. The company reported $7.54 EPS for the quarter, missing the consensus estimate of $13.39 by ($5.85). Everest Group had a return on equity of 3.74% and a net margin of 3.12%.The business had revenue of $4.32 billion during the quarter, compared to analyst estimates of $3.86 billion. During the same quarter last year, the firm earned $11.80 EPS. The business’s revenue was up .8% on a year-over-year basis. On average, research analysts forecast that Everest Group will post 47.93 earnings per share for the current fiscal year.

Insider Buying and Selling at Everest Group

In other news, Director Allan Levine acquired 3,100 shares of the company’s stock in a transaction on Wednesday, October 29th. The shares were bought at an average price of $306.08 per share, with a total value of $948,848.00. Following the completion of the acquisition, the director owned 4,153 shares in the company, valued at $1,271,150.24. This trade represents a 294.40% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William F. Galtney, Jr. bought 11,385 shares of the business’s stock in a transaction dated Wednesday, October 29th. The shares were purchased at an average price of $307.38 per share, for a total transaction of $3,499,521.30. Following the transaction, the director directly owned 45,491 shares of the company’s stock, valued at approximately $13,983,023.58. This represents a 33.38% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Everest Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. SVB Wealth LLC purchased a new position in shares of Everest Group in the 1st quarter valued at approximately $30,000. Root Financial Partners LLC acquired a new stake in shares of Everest Group during the third quarter worth $30,000. Board of the Pension Protection Fund acquired a new stake in shares of Everest Group during the second quarter worth $34,000. WPG Advisers LLC purchased a new position in Everest Group in the 1st quarter valued at $37,000. Finally, UMB Bank n.a. increased its stake in Everest Group by 81.4% in the 3rd quarter. UMB Bank n.a. now owns 107 shares of the company’s stock valued at $37,000 after buying an additional 48 shares during the period. 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.