BMO Capital Markets Downgrades Everest Group (NYSE:EG) to Market Perform

Everest Group (NYSE:EG - Get Free Report) was downgraded by equities research analysts at BMO Capital Markets from an "outperform" rating to a "market perform" rating in a research report issued on Thursday, MarketBeat reports. They presently have a $375.00 price target on the stock, down from their previous price target of $453.00. BMO Capital Markets' price target indicates a potential upside of 6.38% from the company's current price.

A number of other equities analysts have also recently issued reports on the stock. Bank of America cut their target price on shares of Everest Group from $496.00 to $485.00 and set a "buy" rating on the stock in a report on Thursday, October 10th. Barclays reduced their price target on shares of Everest Group from $499.00 to $461.00 and set an "overweight" rating for the company in a research note on Tuesday. Keefe, Bruyette & Woods lifted their target price on Everest Group from $420.00 to $434.00 and gave the stock an "outperform" rating in a report on Friday, January 10th. Wells Fargo & Company cut their price target on shares of Everest Group from $390.00 to $380.00 and set an "equal weight" rating for the company in a report on Tuesday, January 14th. Finally, UBS Group raised shares of Everest Group to a "hold" rating in a research note on Wednesday, October 9th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $422.56.

Everest Group Stock Up 0.3 %

Everest Group stock traded up $1.00 during midday trading on Thursday, hitting $352.51. The stock had a trading volume of 361,256 shares, compared to its average volume of 394,978. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.22. The stock has a market cap of $15.15 billion, a P/E ratio of 5.53, a P/E/G ratio of 2.47 and a beta of 0.65. Everest Group has a 12 month low of $343.76 and a 12 month high of $407.30. The business has a fifty day moving average price of $366.84 and a 200 day moving average price of $375.87.

Insider Buying and Selling

In related news, COO James Allan Williamson sold 200 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $370.00, for a total transaction of $74,000.00. Following the completion of the sale, the chief operating officer now directly owns 15,009 shares in the company, valued at approximately $5,553,330. This trade represents a 1.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mike Karmilowicz sold 269 shares of the company's stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $348.48, for a total value of $93,741.12. Following the completion of the transaction, the executive vice president now directly owns 12,726 shares in the company, valued at approximately $4,434,756.48. The trade was a 2.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.20% of the company's stock.

Institutional Trading of Everest Group

Several large investors have recently added to or reduced their stakes in the business. M&R Capital Management Inc. bought a new stake in Everest Group in the third quarter worth $29,000. Bruce G. Allen Investments LLC boosted its position in Everest Group by 200.0% during the third quarter. Bruce G. Allen Investments LLC now owns 78 shares of the company's stock worth $31,000 after purchasing an additional 52 shares during the period. Eastern Bank acquired a new position in Everest Group during the third quarter valued at approximately $35,000. Brooklyn Investment Group acquired a new stake in shares of Everest Group in the third quarter worth $39,000. Finally, American National Bank & Trust grew its stake in Everest Group by 80.0% in the 3rd quarter. American National Bank & Trust now owns 126 shares of the company's stock valued at $49,000 after buying an additional 56 shares during the last quarter. 92.64% of the stock is owned by institutional investors.

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.