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

Everest Group (NYSE:EG) had its price objective increased by investment analysts at Keefe, Bruyette & Woods from $420.00 to $434.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price objective would indicate a potential upside of 22.62% from the company’s previous close.

Several other research firms also recently issued reports on EG. BMO Capital Markets raised Everest Group from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $372.00 to $453.00 in a research note on Friday. Wells Fargo & Company decreased their price target 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. Bank of America cut their price objective on shares of Everest Group from $496.00 to $485.00 and set a “buy” rating on the stock in a research report on Thursday, October 10th. Barclays decreased their target price on shares of Everest Group from $517.00 to $499.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Finally, Jefferies Financial Group cut shares of Everest Group from a “buy” rating to a “hold” rating and boosted their price target for the stock from $420.00 to $429.00 in a research report on Tuesday, November 26th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $436.56.

Everest Group Trading Down 3.9 %

NYSE:EG opened at $353.95 on Friday. The business’s 50-day simple moving average is $368.10 and its 200-day simple moving average is $376.99. Everest Group has a fifty-two week low of $343.76 and a fifty-two week 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 stock has a market capitalization of $15.21 billion, a PE ratio of 5.54, a price-to-earnings-growth ratio of 2.69 and a beta of 0.65.

Insider Activity

In related news, Director William F. Galtney, Jr. bought 2,870 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was bought at an average price of $348.64 per share, for a total transaction of $1,000,596.80. Following the purchase, the director now owns 32,822 shares in the company, 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 this hyperlink. Also, EVP Mike Karmilowicz sold 269 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now owns 12,726 shares in the company, valued at approximately $4,434,756.48. This trade represents a 2.07 % decrease in their position. The disclosure for this sale can be found here. 1.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Everest Group

Hedge funds have recently bought and sold shares of the stock. M&R Capital Management Inc. bought a new stake in shares of Everest Group in the third quarter valued at about $29,000. Bruce G. Allen Investments LLC raised its stake in Everest Group by 200.0% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 78 shares of the company’s stock worth $31,000 after purchasing an additional 52 shares in the last quarter. Eastern Bank bought a new stake in Everest Group in the 3rd quarter valued at about $35,000. Brooklyn Investment Group acquired a new position in shares of Everest Group during the 3rd quarter worth approximately $39,000. Finally, American National Bank & Trust grew its position in shares of Everest Group by 80.0% during the 3rd quarter. American National Bank & Trust now owns 126 shares of the company’s stock worth $49,000 after purchasing an additional 56 shares in the last quarter. 92.64% of the stock is currently owned by institutional investors and hedge funds.

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.