Everest Group (NYSE:EG) Upgraded to “Hold” at UBS Group

Everest Group (NYSE:EG) was upgraded by research analysts at UBS Group to a “hold” rating in a report released on Wednesday, Zacks.com reports.

A number of other research analysts have also weighed in on the company. TD Cowen cut their price objective on Everest Group from $419.00 to $405.00 and set a “hold” rating for the company in a research report on Tuesday, August 13th. 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 report on Wednesday. Bank of America reduced their price objective on shares of Everest Group from $496.00 to $485.00 and set a “buy” rating for the company in a research note on Thursday. Keefe, Bruyette & Woods reduced their price objective on shares of Everest Group from $454.00 to $438.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Finally, Barclays assumed coverage on shares of Everest Group in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $527.00 price objective for the company. Five analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Everest Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $439.27.

Everest Group Stock Performance

Shares of EG opened at $393.86 on Wednesday. The stock has a market cap of $16.96 billion, a P/E ratio of 5.82, a P/E/G ratio of 2.70 and a beta of 0.61. Everest Group has a 52 week low of $343.76 and a 52 week high of $417.92. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.24. The business’s 50 day moving average price is $382.30 and its 200-day moving average price is $380.67.

Everest Group (NYSE:EG) last released its quarterly earnings data on Wednesday, July 31st. The company reported $16.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $16.97 by ($0.12). Everest Group had a net margin of 18.36% and a return on equity of 24.09%. The business had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.32 billion. During the same period last year, the company posted $15.21 earnings per share. The business’s revenue was up 15.8% compared to the same quarter last year. Equities research analysts anticipate that Everest Group will post 61.78 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Everest Group

A number of large investors have recently made changes to their positions in the stock. American National Bank purchased a new stake in Everest Group in the second quarter valued at $27,000. M&R Capital Management Inc. purchased a new stake in shares of Everest Group during the 3rd quarter worth about $29,000. Bruce G. Allen Investments LLC boosted its stake in shares of Everest Group by 200.0% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 78 shares of the company’s stock worth $31,000 after acquiring an additional 52 shares in the last quarter. Massmutual Trust Co. FSB ADV purchased a new stake in shares of Everest Group during the 1st quarter worth about $33,000. Finally, American National Bank & Trust boosted its stake in shares of Everest Group by 80.0% during the 3rd quarter. American National Bank & Trust now owns 126 shares of the company’s stock worth $49,000 after acquiring an additional 56 shares in the last quarter. 92.64% of the stock is owned by hedge funds and other institutional investors.

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.