Everest Group’s (EG) Equal Weight Rating Reiterated at Morgan Stanley

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

Several other equities analysts also recently commented on the stock. Jefferies Financial Group downgraded shares of Everest Group from a “buy” rating to a “hold” rating and upped their price objective for the company from $420.00 to $429.00 in a report on Tuesday, November 26th. TD Cowen lowered their price target on shares of Everest Group from $444.00 to $419.00 and set a “hold” rating on the stock in a report on Monday, November 18th. UBS Group upgraded Everest Group to a “hold” rating in a report on Wednesday, October 9th. Wells Fargo & Company lowered their target price on Everest Group from $390.00 to $380.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. Finally, Bank of America reduced their price target on Everest Group from $496.00 to $485.00 and set a “buy” rating for the company in a research note on Thursday, October 10th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Everest Group presently has an average rating of “Hold” and a consensus target price of $411.89.

Everest Group Price Performance

Shares of EG opened at $341.72 on Wednesday. The company has a 50 day moving average of $363.53 and a 200-day moving average of $374.38. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $14.69 billion, a P/E ratio of 5.35, a P/E/G ratio of 2.50 and a beta of 0.65. Everest Group has a twelve month low of $336.49 and a twelve month high of $407.30.

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

Insider Activity

In other news, COO James Allan Williamson sold 200 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were 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. This represents a 1.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Everest Group

Several hedge funds and other institutional investors have recently made changes to their positions in EG. Oppenheimer & Co. Inc. increased its stake in Everest Group by 172.8% in the 4th quarter. Oppenheimer & Co. Inc. now owns 17,071 shares of the company’s stock valued at $6,188,000 after buying an additional 10,814 shares during the last quarter. Mn Services Vermogensbeheer B.V. boosted its position in Everest Group by 5.9% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 18,000 shares of the company’s stock worth $6,524,000 after purchasing an additional 1,000 shares during the last quarter. Horizon Advisory Services Inc. bought a new position in Everest Group in the 4th quarter valued at $290,000. Blackhawk Capital Partners LLC. raised its stake in shares of Everest Group by 29.3% during the 4th quarter. Blackhawk Capital Partners LLC. now owns 706 shares of the company’s stock worth $256,000 after purchasing an additional 160 shares during the period. Finally, Quartz Partners LLC grew its position in Everest Group by 12.0% during the fourth quarter. Quartz Partners LLC now owns 5,129 shares of the company’s stock valued at $1,859,000 after buying an additional 551 shares during the period. 92.64% of the stock is owned by institutional investors.

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.