Everest Group (NYSE:EG) Now Covered by Royal Bank Of Canada

Analysts at Royal Bank Of Canada began coverage on shares of Everest Group (NYSE:EG) in a research note issued on Tuesday, MarketBeat.com reports. The firm set a “moderate buy” rating and a $455.00 price target on the stock. Royal Bank Of Canada’s price target suggests a potential upside of 22.26% from the company’s current price.

EG has been the topic of a number of other research reports. Mizuho cut their price objective on shares of Everest Group from $418.00 to $416.00 and set a “neutral” rating on the stock in a report on Friday, July 31st. Morgan Stanley raised their price objective on shares of Everest Group from $355.00 to $360.00 and gave the stock an “equal weight” rating in a report on Monday, July 6th. Cantor Fitzgerald raised their price objective on shares of Everest Group from $344.00 to $390.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Barclays raised their price objective on shares of Everest Group from $420.00 to $430.00 and gave the stock an “overweight” rating in a report on Thursday, July 30th. Finally, Evercore set a $377.00 price objective on shares of Everest Group in a report on Thursday, July 30th. Five equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $409.50.

Everest Group Stock Down 0.1%

EG stock traded down $0.19 during midday trading on Tuesday, reaching $372.17. 283,342 shares of the company were exchanged, compared to its average volume of 375,472. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.35 and a current ratio of 0.35. Everest Group has a 1-year low of $302.44 and a 1-year high of $401.07. The stock’s 50-day simple moving average is $375.25 and its 200 day simple moving average is $353.50. The company has a market cap of $14.27 billion, a price-to-earnings ratio of 7.87, a price-to-earnings-growth ratio of 0.72 and a beta of 0.28.

Everest Group (NYSE:EG) last released its quarterly earnings data on Tuesday, June 30th. The company reported $14.85 earnings per share for the quarter. Everest Group had a net margin of 11.41% and a return on equity of 13.63%. The company had revenue of $3.96 billion for the quarter. On average, equities analysts forecast that Everest Group will post 53.66 earnings per share for the current year.

Hedge Funds Weigh In On Everest Group

A number of institutional investors have recently modified their holdings of EG. QRG Capital Management Inc. acquired a new position in shares of Everest Group in the 2nd quarter valued at $227,000. Sequoia Financial Advisors LLC increased its holdings in shares of Everest Group by 64.0% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 4,380 shares of the company’s stock valued at $1,564,000 after acquiring an additional 1,709 shares during the period. National Pension Service increased its holdings in shares of Everest Group by 83.2% in the 2nd quarter. National Pension Service now owns 9,007 shares of the company’s stock valued at $3,218,000 after acquiring an additional 4,090 shares during the period. Engineers Gate Manager LP acquired a new position in shares of Everest Group in the 2nd quarter valued at $859,000. Finally, Integrated Wealth Concepts LLC increased its holdings in shares of Everest Group by 4.1% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 12,901 shares of the company’s stock valued at $4,609,000 after acquiring an additional 506 shares during the period. 92.64% of the stock is owned by institutional investors and hedge funds.

Everest Group Company Profile

Everest Group, Ltd. (NYSE: EG) is a global insurance and reinsurance company headquartered in Hamilton, Bermuda. Through its operating subsidiaries, the company provides property and casualty insurance and reinsurance products to businesses, insurers and other institutional clients.

Everest’s reinsurance operations cover a range of property, casualty and specialty risks, while its insurance business offers commercial coverage in areas such as property, casualty, specialty, marine, accident and health.