Morgan Stanley Reiterates “Equal Weight” Rating for Everest Group (NYSE:EG)

Everest Group (NYSE:EG)‘s stock had its “equal weight” rating reiterated by Morgan Stanley in a research report issued on Wednesday, MarketBeat Ratings reports. They currently have a $340.00 price objective on the stock, down from their prior price objective of $425.00. Morgan Stanley’s target price indicates a potential upside of 1.17% from the company’s previous close.

A number of other analysts have also recently commented on EG. Barclays boosted their price target on Everest Group from $461.00 to $470.00 and gave the stock an “overweight” rating in a research report on Tuesday. Keefe, Bruyette & Woods boosted their price target on Everest Group from $420.00 to $434.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. Bank of America decreased their price objective on shares of Everest Group from $496.00 to $485.00 and set a “buy” rating for the company in a report on Thursday, October 10th. BMO Capital Markets lowered shares of Everest Group from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $453.00 to $375.00 in a report on Thursday, January 30th. Finally, TD Cowen decreased their price objective on shares of Everest Group from $444.00 to $419.00 and set a “hold” rating for the company in a report on Monday, November 18th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Everest Group presently has a consensus rating of “Hold” and an average target price of $411.89.

Everest Group Stock Down 1.1 %

Shares of NYSE:EG opened at $336.05 on Wednesday. Everest Group has a 1 year low of $335.34 and a 1 year high of $407.30. The company has a market cap of $14.44 billion, a PE ratio of 5.26, a P/E/G ratio of 2.50 and a beta of 0.65. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.40 and a quick ratio of 0.40. The stock’s 50-day moving average is $361.48 and its 200 day moving average is $373.87.

Everest Group (NYSE:EG) last announced its quarterly 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%. Sell-side analysts anticipate that Everest Group will post 36.3 EPS for the current year.

Insider Buying and Selling

In related news, COO James Allan Williamson sold 200 shares of the stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $370.00, for a total value of $74,000.00. Following the sale, the chief operating officer now directly owns 15,009 shares of the company’s stock, valued at $5,553,330. This represents a 1.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Everest Group

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Raymond James Financial Inc. bought a new position in shares of Everest Group during the fourth quarter valued at approximately $48,290,000. Arizona State Retirement System boosted its stake in Everest Group by 0.9% in the fourth quarter. Arizona State Retirement System now owns 12,569 shares of the company’s stock valued at $4,556,000 after acquiring an additional 118 shares in the last quarter. Verdence Capital Advisors LLC boosted its stake in Everest Group by 7.8% in the fourth quarter. Verdence Capital Advisors LLC now owns 1,069 shares of the company’s stock valued at $388,000 after acquiring an additional 77 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in Everest Group in the fourth quarter valued at approximately $10,247,000. Finally, Atria Investments Inc acquired a new stake in Everest Group in the fourth quarter valued at approximately $581,000. 92.64% of the stock is currently 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.