BMO Capital Markets Cuts Everest Group (NYSE:EG) Price Target to $372.00

Everest Group (NYSE:EG) had its price objective dropped by equities research analysts at BMO Capital Markets from $383.00 to $372.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “market perform” rating on the stock. BMO Capital Markets’ price objective points to a potential upside of 0.35% from the company’s previous close.

A number of other equities analysts have also recently commented on EG. TD Cowen reduced their price target on Everest Group from $419.00 to $405.00 and set a “hold” rating for the company in a report on Tuesday, August 13th. Barclays reduced their target price on Everest Group from $527.00 to $517.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Keefe, Bruyette & Woods dropped their price target on Everest Group from $454.00 to $438.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Wells Fargo & Company reduced their price objective on shares of Everest Group from $406.00 to $402.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 5th. Finally, Bank of America dropped their price objective on shares of Everest Group from $496.00 to $485.00 and set a “buy” rating on the stock in a research report on Thursday, October 10th. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $435.18.

Everest Group Stock Performance

Shares of EG opened at $370.72 on Thursday. The company has a market cap of $15.93 billion, a PE ratio of 5.80, a price-to-earnings-growth ratio of 2.64 and a beta of 0.63. The firm has a 50-day moving average of $381.70 and a 200-day moving average of $380.60. 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 0.22, a current ratio of 0.40 and a quick ratio of 0.40.

Insider Transactions at Everest Group

In related news, Director William F. Galtney, Jr. purchased 2,870 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was acquired at an average price of $348.64 per share, with a total value of $1,000,596.80. Following the completion of the purchase, the director now directly owns 32,822 shares in the company, valued at $11,443,062.08. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Mike Karmilowicz sold 269 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $348.48, for a total transaction of $93,741.12. Following the completion of the sale, the executive vice president now directly owns 12,726 shares in the company, valued at $4,434,756.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director William F. Galtney, Jr. bought 2,870 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was acquired at an average price of $348.64 per share, for a total transaction of $1,000,596.80. Following the transaction, the director now owns 32,822 shares of the company’s stock, valued at approximately $11,443,062.08. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Everest Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC boosted its position in Everest Group by 284.8% in the third quarter. SG Americas Securities LLC now owns 24,556 shares of the company’s stock valued at $9,622,000 after buying an additional 18,175 shares in the last quarter. Clearbridge Investments LLC increased its holdings in Everest Group by 1.5% in the 1st quarter. Clearbridge Investments LLC now owns 289,439 shares of the company’s stock worth $115,052,000 after purchasing an additional 4,412 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Everest Group during the second quarter valued at about $921,000. Blue Trust Inc. grew its holdings in shares of Everest Group by 92.9% during the second quarter. Blue Trust Inc. now owns 162 shares of the company’s stock worth $64,000 after purchasing an additional 78 shares during the last quarter. Finally, Raymond James & Associates increased its stake in shares of Everest Group by 29.6% in the third quarter. Raymond James & Associates now owns 31,966 shares of the company’s stock valued at $12,525,000 after buying an additional 7,306 shares during the period. 92.64% of the stock is owned by 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.