Everest Group (NYSE:EG) Given New $517.00 Price Target at Barclays

Everest Group (NYSE:EG) had its target price cut by Barclays from $527.00 to $517.00 in a report published on Thursday morning, Benzinga reports. They currently have an overweight rating on the stock.

Other analysts also recently issued research reports about the company. UBS Group upgraded Everest Group to a “hold” rating in a research note on Wednesday, October 9th. Keefe, Bruyette & Woods dropped their price target on Everest Group from $454.00 to $438.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Morgan Stanley dropped their price target on Everest Group from $450.00 to $445.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 10th. Jefferies Financial Group boosted their price target on Everest Group from $440.00 to $457.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, Bank of America dropped their price target on Everest Group from $496.00 to $485.00 and set a “buy” rating on the stock in a research note on Thursday, October 10th. Five analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Everest Group currently has an average rating of “Moderate Buy” and an average price target of $438.36.

Everest Group Trading Down 6.4 %

EG opened at $355.59 on Thursday. The firm has a market cap of $15.31 billion, a price-to-earnings ratio of 5.56, a PEG ratio of 2.67 and a beta of 0.61. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.24. Everest Group has a 12 month low of $343.76 and a 12 month high of $417.92. The stock has a fifty day moving average price of $387.38 and a 200-day moving average price of $380.81.

Everest Group (NYSE:EG) last announced its earnings results on Wednesday, July 31st. The company reported $16.85 earnings per share for the quarter, missing the consensus estimate of $16.97 by ($0.12). Everest Group had a return on equity of 23.13% and a net margin of 16.99%. The business had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.32 billion. During the same quarter last year, the firm earned $15.21 earnings per share. The firm’s quarterly revenue was up 15.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Everest Group will post 60.97 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Monday, September 16th were issued a dividend of $2.00 per share. The ex-dividend date was Monday, September 16th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.25%. Everest Group’s payout ratio is currently 12.52%.

Institutional Investors Weigh In On Everest Group

Large investors have recently made changes to their positions in the stock. American National Bank purchased a new stake in shares of Everest Group in the second quarter valued at approximately $27,000. M&R Capital Management Inc. purchased a new position in Everest Group in the third quarter worth approximately $29,000. Bruce G. Allen Investments LLC grew its position in Everest Group by 200.0% in the third quarter. Bruce G. Allen Investments LLC now owns 78 shares of the company’s stock worth $31,000 after acquiring an additional 52 shares during the period. Eastern Bank purchased a new position in Everest Group in the third quarter worth approximately $35,000. Finally, Massmutual Trust Co. FSB ADV grew its position in Everest Group by 36.9% in the second quarter. Massmutual Trust Co. FSB ADV now owns 115 shares of the company’s stock worth $44,000 after acquiring an additional 31 shares during the period. 92.64% of the stock is currently owned by hedge funds and other 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.