Everest Group (NYSE:EG) Now Covered by Barclays

Equities research analysts at Barclays assumed coverage on shares of Everest Group (NYSE:EG) in a research report issued on Wednesday, Marketbeat.com reports. The firm set an “overweight” rating and a $527.00 price target on the stock. Barclays‘s target price would indicate a potential upside of 35.31% from the company’s current price.

EG has been the subject of a number of other research reports. Bank of America lifted their price objective on Everest Group from $470.00 to $493.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Wells Fargo & Company increased their price target on shares of Everest Group from $392.00 to $393.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. Morgan Stanley reduced their price objective on shares of Everest Group from $450.00 to $445.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. TD Cowen lowered their target price on shares of Everest Group from $419.00 to $405.00 and set a “hold” rating on the stock in a research report on Tuesday, August 13th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a $403.00 price target on shares of Everest Group in a research report on Friday, August 30th. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $439.00.

Everest Group Stock Performance

Shares of Everest Group stock opened at $389.49 on Wednesday. Everest Group has a 12 month low of $343.76 and a 12 month high of $417.92. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.24. The stock has a market cap of $16.93 billion, a PE ratio of 5.79, a price-to-earnings-growth ratio of 2.56 and a beta of 0.62. The business has a fifty day simple moving average of $379.21 and a 200-day simple moving average of $378.63.

Everest Group (NYSE:EG) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $16.85 EPS for the quarter, missing the consensus estimate of $16.97 by ($0.12). Everest Group had a return on equity of 24.09% and a net margin of 18.36%. The company had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.32 billion. During the same quarter in the prior year, the business posted $15.21 earnings per share. The business’s revenue for the quarter was up 15.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Everest Group will post 61.76 EPS for the current fiscal year.

Hedge Funds Weigh In On Everest Group

Several large investors have recently bought and sold shares of the stock. American National Bank bought a new position in shares of Everest Group during the 2nd quarter worth about $27,000. Heritage Wealth Advisors acquired a new stake in Everest Group during the fourth quarter worth about $30,000. FinTrust Capital Advisors LLC bought a new position in Everest Group during the fourth quarter valued at about $33,000. Massmutual Trust Co. FSB ADV acquired a new position in Everest Group in the 1st quarter valued at approximately $33,000. Finally, Benjamin F. Edwards & Company Inc. bought a new stake in shares of Everest Group in the 4th quarter worth approximately $35,000. 92.64% of the stock is currently owned by institutional investors and hedge funds.

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.