Jefferies Financial Group Upgrades Everest Group (NYSE:EG) to "Buy"

Jefferies Financial Group upgraded shares of Everest Group (NYSE:EG - Free Report) from a hold rating to a buy rating in a research report released on Friday morning, Marketbeat Ratings reports. They currently have $415.00 target price on the stock, up from their prior target price of $376.00.

Several other analysts also recently commented on the stock. BMO Capital Markets downgraded shares of Everest Group from an "outperform" rating to a "market perform" rating and dropped their target price for the stock from $453.00 to $375.00 in a report on Thursday, January 30th. Barclays raised their price objective on shares of Everest Group from $461.00 to $470.00 and gave the stock an "overweight" rating in a report on Tuesday, February 4th. UBS Group lowered their target price on Everest Group from $375.00 to $372.00 and set a "neutral" rating for the company in a report on Wednesday, April 9th. Morgan Stanley restated an "equal weight" rating and issued a $340.00 price target (down from $425.00) on shares of Everest Group in a report on Wednesday, February 5th. Finally, Wells Fargo & Company decreased their price objective on Everest Group from $370.00 to $362.00 and set an "equal weight" rating for the company in a report on Thursday, April 10th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $396.00.

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Everest Group Trading Down 0.2 %

Shares of NYSE:EG traded down $0.56 during trading on Friday, hitting $349.29. 118,272 shares of the company's stock were exchanged, compared to its average volume of 370,343. The firm has a 50-day moving average price of $349.36 and a two-hundred day moving average price of $362.91. Everest Group has a 1-year low of $320.00 and a 1-year high of $407.30. The firm has a market cap of $16.69 billion, a P/E ratio of 11.12, a PEG ratio of 0.24 and a beta of 0.43. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.26.

Everest Group (NYSE:EG - Get Free Report) last announced its quarterly earnings data on Monday, February 3rd. The company reported ($18.39) EPS for the quarter, missing analysts' consensus estimates of $11.64 by ($30.03). Everest Group had a return on equity of 9.04% and a net margin of 7.95%. Equities analysts predict that Everest Group will post 47.93 earnings per share for the current year.

Everest Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 17th were paid a $2.00 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $8.00 annualized dividend and a dividend yield of 2.29%. Everest Group's dividend payout ratio is presently 25.47%.

Insiders Place Their Bets

In other news, Director Geraldine Losquadro sold 1,500 shares of the firm's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $360.63, for a total value of $540,945.00. Following the completion of the sale, the director now directly owns 12,279 shares of the company's stock, valued at $4,428,175.77. This trade represents a 10.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.20% of the company's stock.

Institutional Investors Weigh In On Everest Group

Large investors have recently added to or reduced their stakes in the business. Dakota Wealth Management boosted its stake in shares of Everest Group by 1.7% in the fourth quarter. Dakota Wealth Management now owns 1,945 shares of the company's stock valued at $705,000 after buying an additional 32 shares during the period. Wilmington Savings Fund Society FSB raised its stake in Everest Group by 19.6% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 195 shares of the company's stock valued at $71,000 after purchasing an additional 32 shares in the last quarter. Steph & Co. lifted its position in Everest Group by 10.6% during the fourth quarter. Steph & Co. now owns 366 shares of the company's stock worth $133,000 after purchasing an additional 35 shares during the period. Lester Murray Antman dba SimplyRich grew its stake in Everest Group by 2.7% during the fourth quarter. Lester Murray Antman dba SimplyRich now owns 1,328 shares of the company's stock worth $481,000 after buying an additional 35 shares in the last quarter. Finally, Nissay Asset Management Corp Japan ADV increased its holdings in Everest Group by 0.7% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 5,315 shares of the company's stock valued at $1,913,000 after buying an additional 36 shares during the period. Institutional investors own 92.64% of the company's stock.

Everest Group Company Profile

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.