Everest Group (NYSE:EG) Price Target Raised to $428.00

Everest Group (NYSE:EG) had its price objective upped by analysts at Wells Fargo & Company from $396.00 to $428.00 in a research note issued on Monday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 3.99% from the stock’s current price.

EG has been the subject of a number of other research reports. Rosenblatt Securities set a $455.00 target price on shares of Everest Group in a report on Tuesday, September 22nd. TD Cowen lifted their price target on shares of Everest Group from $365.00 to $385.00 and gave the company a “hold” rating in a report on Wednesday, August 19th. Weiss Ratings upgraded shares of Everest Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 21st. Keefe, Bruyette & Woods dropped their price objective on shares of Everest Group from $414.00 to $407.00 and set an “outperform” rating for the company in a research note on Monday, October 12th. Finally, Morgan Stanley raised their target price on shares of Everest Group from $375.00 to $395.00 and gave the company an “equal weight” rating in a research report on Friday. Six investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $415.19.

Everest Group Stock Up 0.1%

NYSE EG opened at $411.58 on Monday. The business has a fifty day moving average price of $378.52 and a two-hundred day moving average price of $353.16. The stock 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 has a fifty-two week low of $304.55 and a fifty-two week high of $413.00. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.36 and a quick ratio of 0.35.

Everest Group (NYSE:EG) last released its earnings results 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 the consensus estimate of $3.81 billion. During the same quarter in the prior year, the firm earned $7.54 EPS. The business’s revenue was down 14.0% on a year-over-year basis. Equities analysts expect that Everest Group will post 53.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Everest Group

A number of institutional investors have recently added to or reduced their stakes in EG. Bank of America Corp DE bought a new stake in Everest Group in the second quarter worth approximately $108,102,000. William Blair Investment Management LLC bought a new position in shares of Everest Group during the 2nd quarter worth approximately $171,426,000. The Manufacturers Life Insurance Company acquired a new position in shares of Everest Group during the 2nd quarter valued at $9,122,000. Polianta Ltd bought a new position in Everest Group during the second quarter worth $2,000,000. Finally, Public Employees Retirement System of Ohio bought a new position in Everest Group during the second quarter worth $5,351,000. 92.64% of the stock is owned by institutional investors.

About Everest Group

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.