Everest Group (NYSE:EG) Upgraded by BMO Capital Markets to “Outperform” Rating

Everest Group (NYSE:EG) was upgraded by investment analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a report released on Friday, Marketbeat Ratings reports. The firm currently has a $453.00 price objective on the stock, up from their previous price objective of $372.00. BMO Capital Markets’ price target suggests a potential upside of 23.09% from the company’s current price.

Several other brokerages have also weighed in on EG. Barclays decreased their target price on shares of Everest Group from $517.00 to $499.00 and set an “overweight” rating on the stock in a research report on Monday. Bank of America lowered their price objective 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. Jefferies Financial Group cut Everest Group from a “buy” rating to a “hold” rating and increased their target price for the stock from $420.00 to $429.00 in a report on Tuesday, November 26th. UBS Group raised Everest Group to a “hold” rating in a research note on Wednesday, October 9th. Finally, Wells Fargo & Company dropped their price objective on 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 investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $437.00.

Everest Group Stock Down 0.8 %

EG opened at $368.01 on Friday. The company has a market capitalization of $15.82 billion, a P/E ratio of 5.76, a P/E/G ratio of 2.69 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 firm’s fifty day moving average price is $368.04 and its two-hundred day moving average price is $377.22. Everest Group has a fifty-two week low of $343.76 and a fifty-two week high of $407.30.

Insider Activity at Everest Group

In related news, COO James Allan Williamson sold 200 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $370.00, for a total value of $74,000.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director William F. Galtney, Jr. acquired 2,870 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was purchased at an average price of $348.64 per share, for a total transaction of $1,000,596.80. Following the completion of the transaction, the director now directly owns 32,822 shares in the company, valued at approximately $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 company insiders.

Institutional Trading of Everest Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC bought a new position in shares of Everest Group in the 2nd quarter valued at about $601,000. Royal London Asset Management Ltd. raised its position 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 last quarter. Daiwa Securities Group Inc. lifted its stake in shares of Everest Group by 12.3% in the 2nd quarter. Daiwa Securities Group Inc. now owns 4,744 shares of the company’s stock valued at $1,808,000 after purchasing an additional 519 shares during the period. Headlands Technologies LLC acquired a new position in shares of Everest Group in the 2nd quarter valued at $90,000. Finally, American Century Companies Inc. boosted its position in shares of Everest Group by 19.3% in the 2nd quarter. American Century Companies Inc. now owns 110,303 shares of the company’s stock worth $42,028,000 after purchasing an additional 17,850 shares during the last quarter. 92.64% of the stock is currently owned by institutional investors and hedge funds.

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.