Everest Group (NYSE:EG) Rating Lowered to Market Perform at BMO Capital Markets

Everest Group (NYSE:EG) was downgraded by research analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a research note issued to investors on Thursday, Marketbeat.com reports. They presently have a $375.00 price target on the stock, down from their prior price target of $453.00. BMO Capital Markets’ price target points to a potential upside of 7.95% from the company’s current price.

A number of other equities analysts also recently weighed in on EG. Bank of America reduced their price target on Everest Group from $496.00 to $485.00 and set a “buy” rating for the company in a research report on Thursday, October 10th. UBS Group upgraded shares of Everest Group to a “hold” rating in a report on Wednesday, October 9th. Jefferies Financial Group downgraded shares of Everest Group from a “buy” rating to a “hold” rating and raised their target price for the company from $420.00 to $429.00 in a research report on Tuesday, November 26th. Barclays cut their price target on shares of Everest Group from $499.00 to $461.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, TD Cowen decreased their price objective on Everest Group from $444.00 to $419.00 and set a “hold” rating for the company in a report on Monday, November 18th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Everest Group presently has a consensus rating of “Hold” and an average price target of $422.56.

Everest Group Stock Performance

Shares of Everest Group stock opened at $347.38 on Thursday. 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 market cap of $14.93 billion, a price-to-earnings ratio of 5.44, a price-to-earnings-growth ratio of 2.39 and a beta of 0.65. The stock’s 50-day moving average is $365.34 and its 200-day moving average is $375.37. Everest Group has a one year low of $343.76 and a one year high of $407.30.

Insider Transactions at Everest Group

In other Everest Group news, EVP Mike Karmilowicz sold 269 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $348.48, for a total transaction of $93,741.12. Following the completion of the sale, the executive vice president now directly owns 12,726 shares in the company, valued at $4,434,756.48. This trade represents a 2.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director William F. Galtney, Jr. bought 2,870 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was purchased at an average cost of $348.64 per share, for a total transaction of $1,000,596.80. Following the transaction, the director now directly owns 32,822 shares of the company’s stock, valued at $11,443,062.08. The trade was a 9.58 % increase in their position. The disclosure for this purchase 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 and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC increased its position in Everest Group by 1.4% during the third quarter. Geode Capital Management LLC now owns 1,155,760 shares of the company’s stock worth $453,818,000 after acquiring an additional 16,180 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of Everest Group by 6.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 490,691 shares of the company’s stock worth $192,267,000 after purchasing an additional 30,458 shares in the last quarter. Mizuho Securities USA LLC increased its holdings in shares of Everest Group by 12,263.1% during the third quarter. Mizuho Securities USA LLC now owns 415,400 shares of the company’s stock worth $162,766,000 after purchasing an additional 412,040 shares during the period. FMR LLC raised its position in shares of Everest Group by 21.5% in the third quarter. FMR LLC now owns 410,861 shares of the company’s stock valued at $160,988,000 after buying an additional 72,822 shares in the last quarter. Finally, Assetmark Inc. raised its position in shares of Everest Group by 39.7% in the third quarter. Assetmark Inc. now owns 409,989 shares of the company’s stock valued at $160,646,000 after buying an additional 116,559 shares in the last quarter. 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.