Everest Group (NYSE:EG) Stock Price Target Raised at Keefe, Bruyette & Woods

Everest Group (NYSE:EG) had its price objective raised by Keefe, Bruyette & Woods from $407.00 to $450.00 in a research note published on Wednesday,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the stock.

Several other equities analysts have also commented on EG. Rosenblatt Securities set a $455.00 price objective on Everest Group in a research report on Tuesday, September 22nd. TD Cowen increased their target price on Everest Group from $365.00 to $385.00 and gave the stock a “hold” rating in a research note on Wednesday, August 19th. Mizuho decreased their price objective on shares of Everest Group from $416.00 to $398.00 and set a “neutral” rating for the company in a report on Wednesday, October 7th. Barclays upped their target price on shares of Everest Group from $420.00 to $430.00 and gave the company an “overweight” rating in a research note on Thursday, July 30th. Finally, Evercore set a $377.00 price target on Everest Group in a report on Thursday, July 30th. Five analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, Everest Group has an average rating of “Hold” and an average target price of $426.27.

Everest Group Stock Up 2.5%

EG stock opened at $420.93 on Wednesday. Everest Group has a fifty-two week low of $304.55 and a fifty-two week high of $421.52. The business’s 50 day moving average price is $381.07 and its two-hundred day moving average price is $354.58. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.35 and a current ratio of 0.36. The company has a market capitalization of $15.59 billion, a price-to-earnings ratio of 8.90, a price-to-earnings-growth ratio of 0.57 and a beta of 0.23.

Everest Group (NYSE:EG) last released its earnings results on Wednesday, October 28th. The company reported $7.62 EPS for the quarter, missing analysts’ consensus estimates of $9.38 by ($1.76). Everest Group had a net margin of 11.70% and a return on equity of 13.71%. The firm had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $3.81 billion. During the same quarter in the previous year, the business earned $7.54 EPS. The company’s revenue for the quarter was down 14.0% compared to the same quarter last year. As a group, analysts forecast that Everest Group will post 52.80 earnings per share for the current fiscal year.

Everest Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Friday, December 4th will be paid a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 1.9%. The ex-dividend date is Friday, December 4th. Everest Group’s dividend payout ratio is presently 16.91%.

Institutional Investors Weigh In On Everest Group

Several institutional investors and hedge funds have recently modified their holdings of EG. Lido Advisors LLC grew its stake in Everest Group by 24.3% during the third quarter. Lido Advisors LLC now owns 2,233 shares of the company’s stock valued at $816,000 after acquiring an additional 436 shares in the last quarter. M&G PLC increased its holdings in Everest Group by 2.5% in the 3rd quarter. M&G PLC now owns 56,917 shares of the company’s stock valued at $20,775,000 after acquiring an additional 1,407 shares during the last quarter. AlphaCore Capital LLC purchased a new stake in Everest Group in the 3rd quarter worth $217,000. Leuthold Group LLC lifted its stake in Everest Group by 877.8% in the 3rd quarter. Leuthold Group LLC now owns 25,990 shares of the company’s stock worth $9,491,000 after purchasing an additional 23,332 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in Everest Group by 30.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,379 shares of the company’s stock worth $877,000 after purchasing an additional 557 shares in the last quarter. Institutional investors own 92.64% of the company’s stock.

Everest Group News Summary

Here are the key news stories impacting Everest Group this week:

• Positive Sentiment: Keefe, Bruyette & Woods raised its price target to $450 from $407 and maintained an “outperform” rating, implying further upside from the cited share price. Separate reports also noted higher price targets from Wells Fargo and Cantor Fitzgerald, and a positive appreciation outlook from UBS. Keefe, Bruyette & Woods rating information Wells Fargo price target report Cantor Fitzgerald price target report UBS outlook report
• Neutral Sentiment: Several law firms issued investor notices about the same lawsuit and lead-plaintiff deadline; the notices do not describe separate cases. The proposed class period is February 8, 2024, through October 27, 2025, with a December 28, 2026 deadline to seek lead-plaintiff status. Investor notice
• Negative Sentiment: The securities lawsuit alleges Everest Group and its executives made false or misleading statements. The claims are allegations, but the litigation could create legal costs and uncertainty for investors. Class action investor alert

About Everest Group

Everest Group, Ltd. is a global insurance and reinsurance company that provides property and casualty coverage to businesses, institutions, and other insurers. Its operations focus on assuming and managing risks through reinsurance, as well as offering insurance products in selected specialty and commercial markets.

The company’s reinsurance business supports insurers across lines such as property, casualty, specialty, and other risks. Through its insurance platform, Everest provides coverage for commercial customers and specialty exposures, including property, casualty, professional liability, and other products that may vary by market.