Everest Group (NYSE:EG) Rating Increased to Outperform at BMO Capital Markets

Everest Group (NYSE:EG - Get Free Report) was upgraded by equities researchers at BMO Capital Markets from a "market perform" rating to an "outperform" rating in a report released on Friday, Marketbeat Ratings reports. The firm currently has a $453.00 target price on the stock, up from their previous target price of $372.00. BMO Capital Markets' price target suggests a potential upside of 27.98% from the stock's previous close.

EG has been the topic of a number of other reports. Barclays decreased their target price on Everest Group from $517.00 to $499.00 and set an "overweight" rating on the stock in a research report on Monday. Jefferies Financial Group downgraded Everest Group from a "buy" rating to a "hold" rating and increased their target price for the company from $420.00 to $429.00 in a research report on Tuesday, November 26th. UBS Group upgraded shares of Everest Group to a "hold" rating in a research report on Wednesday, October 9th. TD Cowen lowered their price objective on shares of Everest Group from $444.00 to $419.00 and set a "hold" rating for the company in a research report on Monday, November 18th. Finally, Bank of America reduced 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. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Everest Group currently has an average rating of "Moderate Buy" and an average target price of $436.56.

Everest Group Price Performance

Shares of EG stock traded down $14.48 during mid-day trading on Friday, hitting $353.95. The company had a trading volume of 612,080 shares, compared to its average volume of 375,613. The company has a market capitalization of $15.21 billion, a P/E ratio of 5.54, a P/E/G ratio of 2.69 and a beta of 0.65. The stock's 50 day moving average price is $368.04 and its 200-day moving average price is $377.22. Everest Group has a 52-week low of $343.76 and a 52-week high of $407.30. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.40 and a quick ratio of 0.40.

Insider Activity

In related news, COO James Allan Williamson sold 200 shares of the firm's stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $370.00, for a total transaction of $74,000.00. Following the sale, the chief operating officer now owns 15,009 shares of the company's stock, valued at $5,553,330. This trade represents a 1.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William F. Galtney, Jr. purchased 2,870 shares of the firm's stock in a transaction on Monday, November 4th. The shares were purchased at an average cost of $348.64 per share, with a total value of $1,000,596.80. Following the completion of the transaction, the director now owns 32,822 shares of the company's stock, valued at approximately $11,443,062.08. The trade was a 9.58 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.20% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of EG. Acadian Asset Management LLC acquired a new position in shares of Everest Group during the second quarter valued at about $601,000. Royal London Asset Management Ltd. boosted its stake in shares of Everest Group by 66.6% in the second quarter. Royal London Asset Management Ltd. now owns 34,750 shares of the company's stock worth $13,240,000 after buying an additional 13,891 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in Everest Group by 12.3% during the second quarter. Daiwa Securities Group Inc. now owns 4,744 shares of the company's stock worth $1,808,000 after acquiring an additional 519 shares during the period. Headlands Technologies LLC purchased a new position in Everest Group during the second quarter valued at approximately $90,000. Finally, American Century Companies Inc. lifted its holdings in Everest Group by 19.3% in the second quarter. American Century Companies Inc. now owns 110,303 shares of the company's stock valued at $42,028,000 after acquiring an additional 17,850 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.