Everest Group (NYSE:EG) PT Raised to $457.00 at Jefferies Financial Group

Everest Group (NYSE:EG) had its price objective increased by Jefferies Financial Group from $440.00 to $457.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Jefferies Financial Group’s price objective indicates a potential upside of 16.03% from the company’s previous close.

Several other equities analysts also recently commented on the company. Wells Fargo & Company upped their price objective on Everest Group from $392.00 to $393.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Bank of America upped their price objective on Everest Group from $470.00 to $493.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Keefe, Bruyette & Woods dropped their target price on Everest Group from $454.00 to $438.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Morgan Stanley decreased their price target on shares of Everest Group from $450.00 to $445.00 and set an “overweight” rating on the stock in a report on Wednesday, July 10th. Finally, Barclays initiated coverage on Everest Group in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $527.00 target price on the stock. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Everest Group has a consensus rating of “Moderate Buy” and a consensus price target of $439.27.

Everest Group Price Performance

Everest Group stock opened at $393.86 on Wednesday. The stock’s fifty day moving average price is $382.30 and its two-hundred day moving average price is $380.67. Everest Group has a one year low of $343.76 and a one year high of $417.92. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.38 and a quick ratio of 0.38. The firm has a market cap of $16.96 billion, a PE ratio of 5.85, a price-to-earnings-growth ratio of 2.83 and a beta of 0.61.

Everest Group (NYSE:EG) last released its quarterly earnings data 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 net margin of 18.36% and a return on equity of 24.09%. The firm had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.32 billion. During the same period last year, the business earned $15.21 EPS. The company’s revenue was up 15.8% compared to the same quarter last year. As a group, research analysts expect that Everest Group will post 61.66 EPS for the current fiscal year.

Hedge Funds Weigh In On Everest Group

Institutional investors have recently bought and sold shares of the company. American National Bank purchased a new stake in shares of Everest Group during the second quarter worth approximately $27,000. M&R Capital Management Inc. acquired a new stake in shares of Everest Group during the third quarter valued at $29,000. Bruce G. Allen Investments LLC boosted its stake in shares of 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 acquiring an additional 52 shares during the last quarter. Massmutual Trust Co. FSB ADV purchased a new position in Everest Group during the first quarter worth about $33,000. Finally, American National Bank & Trust lifted its position in Everest Group by 80.0% during the third quarter. American National Bank & Trust now owns 126 shares of the company’s stock worth $49,000 after buying an additional 56 shares during the period. 92.64% of the stock is owned by institutional investors and hedge funds.

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.