Everest Group (NYSE:EG) Rating Increased to Outperform at BMO Capital Markets

Everest Group (NYSE:EG) was upgraded by BMO Capital Markets from a “market perform” rating to an “outperform” rating in a research report issued on Friday, Marketbeat Ratings reports. The brokerage currently has a $453.00 price target on the stock, up from their prior price target of $372.00. BMO Capital Markets’ price objective points to a potential upside of 23.09% from the company’s previous close.

EG has been the topic of several other research reports. Bank of America dropped their price objective 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. Wells Fargo & Company dropped their price target on Everest Group from $402.00 to $390.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 4th. TD Cowen decreased their price objective on Everest Group from $444.00 to $419.00 and set a “hold” rating for the company in a research report on Monday, November 18th. Jefferies Financial Group downgraded shares of Everest Group from a “buy” rating to a “hold” rating and raised their target price for the stock from $420.00 to $429.00 in a report on Tuesday, November 26th. Finally, UBS Group raised shares of Everest Group to a “hold” rating in a research note on Wednesday, October 9th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Everest Group presently has a consensus rating of “Moderate Buy” and an average target price of $437.00.

Everest Group Trading Down 0.8 %

EG opened at $368.01 on Friday. The firm’s fifty day moving average is $368.04 and its two-hundred day moving average is $377.22. The firm has a market cap of $15.82 billion, a PE ratio of 5.76, a price-to-earnings-growth ratio of 2.69 and a beta of 0.65. Everest Group has a twelve month low of $343.76 and a twelve month high of $407.30. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.40 and a current ratio of 0.40.

Insider Transactions at Everest Group

In other news, Director William F. Galtney, Jr. bought 2,870 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was acquired at an average cost of $348.64 per share, with a total value of $1,000,596.80. Following the completion of the purchase, the director now owns 32,822 shares of the company’s stock, valued at $11,443,062.08. This represents a 9.58 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO James Allan Williamson sold 200 shares of the business’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $370.00, for a total transaction of $74,000.00. Following the transaction, the chief operating officer now owns 15,009 shares in the company, valued at approximately $5,553,330. The trade was a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of EG. M&R Capital Management Inc. acquired a new position in shares of Everest Group during the 3rd quarter worth approximately $29,000. Bruce G. Allen Investments LLC boosted its position in Everest Group by 200.0% during the third quarter. Bruce G. Allen Investments LLC now owns 78 shares of the company’s stock worth $31,000 after purchasing an additional 52 shares during the period. Eastern Bank acquired a new position in shares of Everest Group in the third quarter valued at $35,000. Brooklyn Investment Group bought a new position in shares of Everest Group in the third quarter valued at about $39,000. Finally, American National Bank & Trust lifted 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 buying an additional 56 shares during the last quarter. Institutional investors own 92.64% of the company’s stock.

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.