Everest Group (NYSE:EG) Given New $470.00 Price Target at Barclays

Everest Group (NYSE:EG) had its price target lifted by Barclays from $461.00 to $470.00 in a research report report published on Tuesday,Benzinga reports. The firm currently has an overweight rating on the stock.

Other equities research analysts have also recently issued research reports about the company. Jefferies Financial Group cut Everest Group from a “buy” rating to a “hold” rating and raised their price objective for the company from $420.00 to $429.00 in a research note on Tuesday, November 26th. Bank of America reduced their price target on shares of Everest Group from $496.00 to $485.00 and set a “buy” rating for the company in a research report on Thursday, October 10th. BMO Capital Markets downgraded shares of Everest Group from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $453.00 to $375.00 in a report on Thursday, January 30th. Wells Fargo & Company reduced their price objective on shares of Everest Group from $390.00 to $380.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. Finally, UBS Group upgraded shares of Everest Group to a “hold” rating in a report on Wednesday, October 9th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Everest Group has an average rating of “Hold” and an average price target of $423.56.

Everest Group Price Performance

Everest Group stock opened at $341.72 on Tuesday. The stock has a market capitalization of $14.69 billion, a price-to-earnings ratio of 5.35, a PEG ratio of 2.50 and a beta of 0.65. Everest Group has a 52-week low of $336.49 and a 52-week high of $407.30. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.40 and a current ratio of 0.40. The stock’s 50 day moving average price is $363.53 and its two-hundred day moving average price is $374.38.

Everest Group (NYSE:EG) last issued its earnings results on Monday, February 3rd. The company reported ($18.39) earnings per share (EPS) for the quarter, missing the consensus estimate 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, equities analysts predict that Everest Group will post 36.3 earnings per share for the current year.

Everest Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th were issued a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend was Wednesday, November 27th. Everest Group’s dividend payout ratio is presently 12.52%.

Insider Buying and Selling

In related news, COO James Allan Williamson sold 200 shares of the firm’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 sale, the chief operating officer now owns 15,009 shares in the company, valued at approximately $5,553,330. This trade represents a 1.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Everest Group

Several large investors have recently modified their holdings of EG. Bruce G. Allen Investments LLC grew its holdings in Everest Group by 200.0% during the third quarter. Bruce G. Allen Investments LLC now owns 78 shares of the company’s stock valued at $31,000 after purchasing an additional 52 shares during the period. Eastern Bank bought a new position in shares of Everest Group during the 3rd quarter worth $35,000. Brooklyn Investment Group purchased a new stake in Everest Group in the 3rd quarter worth about $39,000. Private Trust Co. NA raised its stake in Everest Group by 51.7% in the 3rd quarter. Private Trust Co. NA now owns 132 shares of the company’s stock valued at $52,000 after acquiring an additional 45 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Everest Group during the third quarter valued at about $64,000. 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.