Everest Group (NYSE:EG) Rating Lowered to “Hold” at Wall Street Zen

Everest Group (NYSE:EG) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Sunday.

Several other equities analysts have also weighed in on the stock. Raymond James Financial set a $375.00 price objective on shares of Everest Group and gave the company an “outperform” rating in a report on Monday, September 22nd. Evercore ISI increased their price objective on shares of Everest Group from $380.00 to $384.00 and gave the company an “in-line” rating in a report on Wednesday, October 1st. Cowen restated a “hold” rating on shares of Everest Group in a report on Tuesday, October 7th. Keefe, Bruyette & Woods cut their price objective on shares of Everest Group from $424.00 to $400.00 and set an “outperform” rating on the stock in a report on Thursday, October 30th. Finally, Cantor Fitzgerald upgraded shares of Everest Group to a “hold” rating in a report on Wednesday, August 13th. Five equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $372.36.

Everest Group Price Performance

Shares of EG stock opened at $313.44 on Friday. Everest Group has a 1 year low of $302.44 and a 1 year high of $392.78. The firm’s 50 day moving average is $342.50 and its 200-day moving average is $340.93. The firm has a market capitalization of $13.15 billion, a price-to-earnings ratio of 23.87, a PEG ratio of 0.25 and a beta of 0.48. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.24.

Everest Group (NYSE:EG) last announced its earnings results on Monday, October 27th. The company reported $7.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $13.39 by ($5.85). Everest Group had a return on equity of 3.81% and a net margin of 3.12%.The company had revenue of $4.32 billion for the quarter, compared to analyst estimates of $3.86 billion. During the same quarter in the previous year, the company posted $11.80 earnings per share. Everest Group’s revenue for the quarter was up .8% on a year-over-year basis. Sell-side analysts forecast that Everest Group will post 47.93 EPS for the current fiscal year.

Insider Buying and Selling at Everest Group

In other Everest Group news, Director Allan Levine bought 3,100 shares of the firm’s stock in a transaction that occurred on Wednesday, October 29th. The stock was acquired at an average price of $306.08 per share, with a total value of $948,848.00. Following the completion of the transaction, the director owned 4,153 shares in the company, valued at approximately $1,271,150.24. This trade represents a 294.40% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William F. Galtney, Jr. bought 11,385 shares of the firm’s stock in a transaction that occurred on Wednesday, October 29th. The stock was acquired at an average cost of $307.38 per share, with a total value of $3,499,521.30. Following the transaction, the director owned 45,491 shares of the company’s stock, valued at $13,983,023.58. This represents a 33.38% increase in their position. The disclosure for this purchase is available in the SEC filing. 1.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Banco Bilbao Vizcaya Argentaria S.A. grew its position in shares of Everest Group by 3.0% in the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 1,025 shares of the company’s stock valued at $372,000 after acquiring an additional 30 shares during the period. Darwin Wealth Management LLC boosted its holdings in shares of Everest Group by 6.2% during the 3rd quarter. Darwin Wealth Management LLC now owns 568 shares of the company’s stock worth $199,000 after buying an additional 33 shares during the period. Farther Finance Advisors LLC raised its stake in Everest Group by 4.3% in the 2nd quarter. Farther Finance Advisors LLC now owns 816 shares of the company’s stock worth $277,000 after purchasing an additional 34 shares in the last quarter. Vontobel Holding Ltd. raised its stake in Everest Group by 2.1% in the 1st quarter. Vontobel Holding Ltd. now owns 1,781 shares of the company’s stock worth $647,000 after purchasing an additional 36 shares in the last quarter. Finally, Baader Bank Aktiengesellschaft raised its stake in Everest Group by 6.6% in the 1st quarter. Baader Bank Aktiengesellschaft now owns 595 shares of the company’s stock worth $213,000 after purchasing an additional 37 shares in the last quarter. Institutional investors own 92.64% of the company’s stock.

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.