Everest Group (NYSE:EG) Given “Equal Weight” Rating at Morgan Stanley

Everest Group (NYSE:EG)‘s stock had its “equal weight” rating reiterated by investment analysts at Morgan Stanley in a research report issued on Wednesday, MarketBeat.com reports. They currently have a $340.00 price objective on the stock, down from their previous price objective of $425.00. Morgan Stanley’s price objective suggests a potential downside of 0.50% from the stock’s previous close.

EG has been the topic of a number of other research reports. Barclays upped their target price on shares of Everest Group from $461.00 to $470.00 and gave the stock an “overweight” rating in a report on Tuesday. Bank of America lowered their price objective on Everest Group from $496.00 to $485.00 and set a “buy” rating on the stock in a research report on Thursday, October 10th. Wells Fargo & Company reduced their target price on Everest Group from $390.00 to $380.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. TD Cowen dropped their price target 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. Finally, Keefe, Bruyette & Woods boosted their price objective on Everest Group from $420.00 to $434.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Everest Group presently has an average rating of “Hold” and a consensus target price of $411.89.

Everest Group Stock Performance

NYSE EG opened at $341.72 on Wednesday. The company’s 50 day moving average is $363.53 and its 200-day moving average is $374.38. The firm has a market cap of $14.69 billion, a P/E ratio of 5.35, a price-to-earnings-growth ratio of 2.50 and a beta of 0.65. Everest Group has a 12-month low of $336.49 and a 12-month high of $407.30. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.22.

Everest Group (NYSE:EG) last posted its quarterly earnings results on Monday, February 3rd. The company reported ($18.39) EPS for the quarter, missing analysts’ consensus estimates of $11.64 by ($30.03). Everest Group had a return on equity of 22.45% and a net margin of 16.99%. Sell-side analysts predict that Everest Group will post 36.3 earnings per share for the current year.

Insider Activity

In other Everest Group news, COO James Allan Williamson sold 200 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $370.00, for a total value of $74,000.00. Following the completion of the sale, the chief operating officer now owns 15,009 shares in the company, valued at approximately $5,553,330. This trade represents a 1.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.20% of the company’s stock.

Institutional Trading of Everest Group

Several large investors have recently added to or reduced their stakes in the stock. Bruce G. Allen Investments LLC lifted its position in Everest Group by 200.0% during the 3rd 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 period. Eastern Bank bought a new stake in shares of Everest Group in the 3rd quarter worth approximately $35,000. Brooklyn Investment Group bought a new stake in shares of Everest Group in the 3rd quarter worth approximately $39,000. Private Trust Co. NA increased its position in Everest Group by 51.7% during the 3rd quarter. Private Trust Co. NA now owns 132 shares of the company’s stock valued at $52,000 after buying an additional 45 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in Everest Group during the third quarter valued at $64,000. 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.