Everest Group (NYSE:EG) Price Target Raised to $445.00

Everest Group (NYSE:EG) had its target price boosted by Citigroup from $415.00 to $445.00 in a report published on Monday morning,Benzinga reports. They currently have a neutral rating on the stock.

EG has been the topic of a number of other reports. Barclays upped their price objective 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. Keefe, Bruyette & Woods lowered their target price on shares of Everest Group from $414.00 to $407.00 and set an “outperform” rating for the company in a research note on Monday, October 12th. Weiss Ratings upgraded shares of Everest Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 21st. UBS Group upped their price target on shares of Everest Group from $374.00 to $395.00 and gave the company a “neutral” rating in a research report on Monday, August 3rd. Finally, Rosenblatt Securities set a $455.00 price target on Everest Group in a report on Tuesday, September 22nd. Five equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, Everest Group has a consensus rating of “Hold” and an average target price of $426.27.

Everest Group Price Performance

Shares of EG opened at $420.93 on Monday. Everest Group has a 1 year low of $304.55 and a 1 year high of $421.52. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.36 and a quick ratio of 0.35. 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. The business has a 50-day moving average of $381.07 and a 200-day moving average of $354.58.

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

Everest Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Wednesday, September 9th were issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Wednesday, September 9th. Everest Group’s dividend payout ratio is currently 16.91%.

Hedge Funds Weigh In On Everest Group

Large investors have recently added to or reduced their stakes in the business. Lido Advisors LLC raised its stake in shares of Everest Group by 24.3% in the third quarter. Lido Advisors LLC now owns 2,233 shares of the company’s stock worth $816,000 after purchasing an additional 436 shares during the last quarter. M&G PLC raised 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 worth $20,775,000 after purchasing an additional 1,407 shares during the period. AlphaCore Capital LLC bought a new position in Everest Group in the 3rd quarter worth $217,000. Leuthold Group LLC lifted its position in Everest Group by 877.8% during the third quarter. Leuthold Group LLC now owns 25,990 shares of the company’s stock valued at $9,491,000 after purchasing an additional 23,332 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in Everest Group by 30.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,379 shares of the company’s stock valued at $877,000 after purchasing an additional 557 shares during the period. Institutional investors own 92.64% of the company’s stock.

Key Everest Group News

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

Everest Group Company Profile

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.