Everest Group (NYSE:EG) Given New $457.00 Price Target at Jefferies Financial Group

Everest Group (NYSE:EG) had its price target raised by analysts at Jefferies Financial Group from $440.00 to $457.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s target price suggests a potential upside of 17.36% from the company’s previous close.

A number of other research firms have also weighed in on EG. Morgan Stanley reduced their price objective on Everest Group from $450.00 to $445.00 and set an “overweight” rating for the company in a research report on Wednesday, July 10th. Bank of America raised 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. Barclays assumed coverage on Everest Group in a research report on Wednesday, September 4th. They set an “overweight” rating and a $527.00 price objective for the company. Wells Fargo & Company raised their price objective on Everest Group from $392.00 to $393.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. Finally, Keefe, Bruyette & Woods reduced their price objective on Everest Group from $454.00 to $438.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Four equities 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 company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $438.82.

Everest Group Stock Up 4.2 %

Shares of EG traded up $15.67 on Wednesday, reaching $389.40. The stock had a trading volume of 396,827 shares, compared to its average volume of 336,959. The firm has a market capitalization of $16.92 billion, a price-to-earnings ratio of 5.79, a price-to-earnings-growth ratio of 2.76 and a beta of 0.61. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.38 and a current ratio of 0.38. The company has a 50-day simple moving average of $381.85 and a 200-day simple moving average of $380.52. Everest Group has a 12-month low of $343.76 and a 12-month high of $417.92.

Everest Group (NYSE:EG) last released its earnings results on Wednesday, July 31st. The company reported $16.85 EPS for the quarter, missing analysts’ consensus estimates of $16.97 by ($0.12). The firm had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.32 billion. Everest Group had a net margin of 18.36% and a return on equity of 24.09%. The company’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $15.21 EPS. Sell-side analysts predict that Everest Group will post 61.66 EPS for the current year.

Hedge Funds Weigh In On Everest Group

A number of institutional investors and hedge funds have recently modified their holdings of EG. American National Bank purchased a new position in shares of Everest Group in the 2nd quarter worth $27,000. M&R Capital Management Inc. purchased a new position in Everest Group during the third quarter valued at $29,000. Bruce G. Allen Investments LLC lifted 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 valued at $31,000 after purchasing an additional 52 shares in the last quarter. Massmutual Trust Co. FSB ADV purchased a new position in Everest Group during the first quarter valued at $33,000. Finally, American National Bank & Trust lifted its position in Everest Group by 80.0% during the third quarter. American National Bank & Trust now owns 126 shares of the company’s stock valued at $49,000 after purchasing an additional 56 shares in the last quarter. 92.64% of the stock is currently owned by hedge funds and other 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.