Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Everest Group (NYSE:EG) Stock

Everest Group (NYSE:EG) had its target price hoisted by analysts at Keefe, Bruyette & Woods from $420.00 to $434.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 22.62% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the stock. UBS Group upgraded shares of Everest Group to a “hold” rating in a research note on Wednesday, October 9th. Bank of America lowered their target price on shares of Everest Group from $496.00 to $485.00 and set a “buy” rating on the stock in a research note on Thursday, October 10th. Barclays decreased their price objective on Everest Group from $517.00 to $499.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. TD Cowen dropped their target price on Everest Group from $444.00 to $419.00 and set a “hold” rating for the company in a report on Monday, November 18th. Finally, Jefferies Financial Group cut Everest Group from a “buy” rating to a “hold” rating and upped their price target for the company from $420.00 to $429.00 in a research report on Tuesday, November 26th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $436.56.

Everest Group Price Performance

Shares of EG stock opened at $353.95 on Friday. Everest Group has a 12 month low of $343.76 and a 12 month high of $407.30. The company has a market capitalization of $15.21 billion, a P/E ratio of 5.54, a P/E/G ratio of 2.69 and a beta of 0.65. The stock has a 50 day moving average of $368.10 and a two-hundred day moving average of $376.99. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.22.

Insiders Place Their Bets

In other news, COO James Allan Williamson sold 200 shares of the business’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $370.00, for a total transaction of $74,000.00. Following the completion of the sale, the chief operating officer now owns 15,009 shares in the company, valued at $5,553,330. The trade was a 1.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director William F. Galtney, Jr. purchased 2,870 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were purchased at an average cost of $348.64 per share, for a total transaction of $1,000,596.80. Following the purchase, the director now directly owns 32,822 shares of the company’s stock, valued at $11,443,062.08. This trade represents a 9.58 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Everest Group

Several institutional investors have recently modified their holdings of the business. SG Americas Securities LLC lifted its stake 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 during the period. B. Riley Wealth Advisors Inc. bought a new stake in shares of Everest Group in the 2nd quarter valued at about $921,000. Brophy Wealth Management LLC bought a new position in Everest Group during the 3rd quarter worth approximately $749,000. Intech Investment Management LLC boosted its stake in Everest Group by 13.1% during the 3rd quarter. Intech Investment Management LLC now owns 27,324 shares of the company’s stock worth $10,706,000 after acquiring an additional 3,166 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Everest Group by 19.5% during the third quarter. JPMorgan Chase & Co. now owns 78,469 shares of the company’s stock valued at $30,747,000 after purchasing an additional 12,791 shares during the period. Institutional investors and hedge funds 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.