Everest Group (NYSE:EG) Receives Equal Weight Rating from Morgan Stanley

Morgan Stanley restated their equal weight rating on shares of Everest Group (NYSE:EG - Free Report) in a report issued on Wednesday morning, MarketBeat reports. They currently have a $340.00 price objective on the stock, down from their previous price objective of $425.00.

A number of other research analysts have also weighed in on the company. Jefferies Financial Group lowered Everest Group from a "buy" rating to a "hold" rating and increased their price objective for the company from $420.00 to $429.00 in a report on Tuesday, November 26th. Keefe, Bruyette & Woods lifted their price objective on shares of Everest Group from $420.00 to $434.00 and gave the company an "outperform" rating in a research note on Friday, January 10th. BMO Capital Markets lowered shares of Everest Group from an "outperform" rating to a "market perform" rating and cut their price objective for the stock from $453.00 to $375.00 in a research note on Thursday, January 30th. Bank of America decreased their target price on shares of Everest Group from $496.00 to $485.00 and set a "buy" rating for the company in a research report on Thursday, October 10th. Finally, TD Cowen cut their price target on Everest Group from $444.00 to $419.00 and set a "hold" rating on the stock in a research report on Monday, November 18th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $411.89.

Everest Group Stock Performance

EG stock traded up $1.72 during trading on Wednesday, reaching $338.02. The company had a trading volume of 560,146 shares, compared to its average volume of 451,300. The company has a market cap of $14.53 billion, a price-to-earnings ratio of 10.76, a price-to-earnings-growth ratio of 0.22 and a beta of 0.65. Everest Group has a twelve month low of $333.05 and a twelve month high of $407.30. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.40 and a current ratio of 0.40. The firm has a 50-day simple moving average of $361.48 and a 200-day simple moving average of $373.87.

Everest Group (NYSE:EG - Get Free Report) last posted its quarterly earnings data on Monday, February 3rd. The company reported ($18.39) EPS for the quarter, missing the consensus estimate of $11.64 by ($30.03). Everest Group had a return on equity of 9.04% and a net margin of 7.95%. As a group, sell-side analysts expect that Everest Group will post 53.11 earnings per share for the current year.

Insider Buying and Selling

In other news, COO James Allan Williamson sold 200 shares of the business's stock in a transaction that occurred 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 transaction, the chief operating officer now directly owns 15,009 shares in the company, valued at $5,553,330. The trade was a 1.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.20% of the stock is owned by company insiders.

Institutional Trading of Everest Group

Several large investors have recently added to or reduced their stakes in EG. Wedmont Private Capital lifted its holdings in Everest Group by 4.8% in the third quarter. Wedmont Private Capital now owns 638 shares of the company's stock valued at $238,000 after acquiring an additional 29 shares during the last quarter. Dakota Wealth Management lifted its stake in shares of Everest Group by 1.7% in the 4th quarter. Dakota Wealth Management now owns 1,945 shares of the company's stock valued at $705,000 after purchasing an additional 32 shares during the last quarter. Wilmington Savings Fund Society FSB grew its holdings in shares of Everest Group by 19.6% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 195 shares of the company's stock worth $71,000 after purchasing an additional 32 shares during the period. Steph & Co. raised its holdings in Everest Group by 10.6% in the 4th quarter. Steph & Co. now owns 366 shares of the company's stock valued at $133,000 after buying an additional 35 shares during the period. Finally, Lester Murray Antman dba SimplyRich increased its position in shares of Everest Group by 2.7% during the fourth quarter. Lester Murray Antman dba SimplyRich now owns 1,328 shares of the company's stock valued at $481,000 after acquiring an additional 35 shares during the last quarter. 92.64% of the stock is currently owned by hedge funds and other 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.