Everest Group (NYSE:EG) Stock Rating Upgraded by BMO Capital Markets

Everest Group (NYSE:EG) was upgraded by analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a research report issued on Friday, Marketbeat reports. The firm currently has a $453.00 price target on the stock, up from their prior price target of $372.00. BMO Capital Markets’ target price points to a potential upside of 27.98% from the stock’s previous close.

EG has been the topic of a number of other reports. TD Cowen dropped their price target on Everest Group from $444.00 to $419.00 and set a “hold” rating on the stock in a research report on Monday, November 18th. Bank of America cut their target price on Everest Group from $496.00 to $485.00 and set a “buy” rating on the stock in a research note on Thursday, October 10th. UBS Group upgraded Everest Group to a “hold” rating in a report on Wednesday, October 9th. Jefferies Financial Group cut shares of Everest Group from a “buy” rating to a “hold” rating and upped their price target for the stock from $420.00 to $429.00 in a research note on Tuesday, November 26th. Finally, Wells Fargo & Company reduced their price objective on shares of Everest Group from $402.00 to $390.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 4th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $436.56.

Everest Group Trading Down 3.9 %

Shares of NYSE EG opened at $353.95 on Friday. Everest Group has a 1 year low of $343.76 and a 1 year high of $407.30. 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 firm has a 50-day moving average of $368.10 and a 200 day moving average of $376.99. The stock has a market cap of $15.21 billion, a P/E ratio of 5.54, a price-to-earnings-growth ratio of 2.69 and a beta of 0.65.

Insider Buying and Selling

In other Everest Group news, Director William F. Galtney, Jr. bought 2,870 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was bought at an average cost of $348.64 per share, for a total transaction of $1,000,596.80. Following the completion of the transaction, the director now owns 32,822 shares of the company’s stock, valued at $11,443,062.08. This represents a 9.58 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mike Karmilowicz sold 269 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 12,726 shares in the company, valued at $4,434,756.48. The trade was a 2.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Everest Group

A number of hedge funds have recently modified their holdings of EG. Acadian Asset Management LLC purchased a new position in Everest Group during the second quarter valued at $601,000. Royal London Asset Management Ltd. grew its stake in shares of Everest Group by 66.6% during the 2nd quarter. Royal London Asset Management Ltd. now owns 34,750 shares of the company’s stock valued at $13,240,000 after acquiring an additional 13,891 shares during the period. Daiwa Securities Group Inc. increased its holdings in Everest Group by 12.3% in the 2nd quarter. Daiwa Securities Group Inc. now owns 4,744 shares of the company’s stock worth $1,808,000 after acquiring an additional 519 shares in the last quarter. Headlands Technologies LLC purchased a new stake in Everest Group in the 2nd quarter worth approximately $90,000. Finally, American Century Companies Inc. lifted its holdings in Everest Group by 19.3% during the second quarter. American Century Companies Inc. now owns 110,303 shares of the company’s stock valued at $42,028,000 after purchasing an additional 17,850 shares in the last quarter. Institutional investors 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.