Everest Group (NYSE:EG) Price Target Raised to $419.00

Everest Group (NYSE:EG) had its price objective boosted by equities research analysts at Cantor Fitzgerald from $390.00 to $419.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Cantor Fitzgerald‘s target price indicates a potential upside of 1.80% from the stock’s current price.

A number of other analysts have also recently weighed in on the stock. Morgan Stanley boosted their target price on shares of Everest Group from $375.00 to $395.00 and gave the stock an “equal weight” rating in a research note on Friday. Royal Bank Of Canada increased their price target on Everest Group from $455.00 to $475.00 and gave the stock an “outperform” rating in a report on Friday. Evercore set a $377.00 target price on Everest Group in a report on Thursday, July 30th. Citigroup boosted their price objective on Everest Group from $395.00 to $415.00 and gave the stock a “neutral” rating in a research report on Friday, July 31st. Finally, TD Cowen increased their price target on Everest Group from $365.00 to $385.00 and gave the stock a “hold” rating in a research note on Wednesday, August 19th. Six investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $413.19.

Everest Group Stock Performance

EG opened at $411.58 on Monday. The business’s 50-day simple moving average is $378.52 and its 200 day simple moving average is $353.16. Everest Group has a 52-week low of $304.55 and a 52-week high of $413.00. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.35 and a current ratio of 0.36. The firm has a market capitalization of $15.78 billion, a PE ratio of 8.70, a PEG ratio of 0.57 and a beta of 0.23.

Everest Group (NYSE:EG) last released its quarterly earnings data on Wednesday, October 28th. The company reported $7.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.38 by ($1.76). Everest Group had a net margin of 11.70% and a return on equity of 13.71%. The business had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.81 billion. During the same period in the previous year, the business earned $7.54 earnings per share. The business’s quarterly revenue was down 14.0% on a year-over-year basis. As a group, sell-side analysts expect that Everest Group will post 53.32 earnings per share for the current fiscal year.

Institutional Trading of Everest Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EG. Trifecta Capital Advisors LLC purchased a new position in Everest Group during the 2nd quarter valued at $29,000. Provenance Wealth Advisors LLC lifted its position in shares of Everest Group by 1,283.3% in the 3rd quarter. Provenance Wealth Advisors LLC now owns 83 shares of the company’s stock worth $30,000 after purchasing an additional 77 shares during the period. Root Financial Partners LLC lifted its position in shares of Everest Group by 70.1% in the 1st quarter. Root Financial Partners LLC now owns 165 shares of the company’s stock worth $54,000 after purchasing an additional 68 shares during the period. USA Financial Formulas purchased a new stake in shares of Everest Group in the 3rd quarter worth about $77,000. Finally, Transamerica Financial Advisors LLC bought a new stake in shares of Everest Group during the 2nd quarter valued at about $80,000. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Everest Group Company Profile

Everest Group, Ltd. is a global insurance and reinsurance company that provides property and casualty coverage to businesses, institutions, and other insurers. Its operations focus on assuming and managing risks through reinsurance, as well as offering insurance products in selected specialty and commercial markets.

The company’s reinsurance business supports insurers across lines such as property, casualty, specialty, and other risks. Through its insurance platform, Everest provides coverage for commercial customers and specialty exposures, including property, casualty, professional liability, and other products that may vary by market.