Everest Group (NYSE:EG) Cut to Hold at Jefferies Financial Group

Everest Group (NYSE:EG - Get Free Report) was downgraded by investment analysts at Jefferies Financial Group from a "buy" rating to a "hold" rating in a note issued to investors on Tuesday, MarketBeat.com reports. They presently have a $429.00 price target on the stock, up from their previous price target of $420.00. Jefferies Financial Group's target price would suggest a potential upside of 10.57% from the company's current price.

A number of other equities analysts have also recently issued reports on the company. Wells Fargo & Company cut their price objective on Everest Group from $406.00 to $402.00 and set an "equal weight" rating for the company in a report on Tuesday, November 5th. Keefe, Bruyette & Woods reduced their price target on shares of Everest Group from $454.00 to $438.00 and set an "outperform" rating on the stock in a research report on Thursday, August 8th. Barclays lowered their price objective on shares of Everest Group from $527.00 to $517.00 and set an "overweight" rating for the company in a report on Thursday, October 31st. TD Cowen cut 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 note on Monday, November 18th. Finally, UBS Group upgraded shares of Everest Group to a "hold" rating in a research report on Wednesday, October 9th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, Everest Group currently has an average rating of "Hold" and an average target price of $431.30.

Everest Group Price Performance

Shares of NYSE:EG traded down $2.11 during trading on Tuesday, reaching $387.99. The company had a trading volume of 227,909 shares, compared to its average volume of 355,582. The company has a fifty day moving average of $380.79 and a two-hundred day moving average of $380.87. 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 capitalization of $16.68 billion, a P/E ratio of 6.05, a price-to-earnings-growth ratio of 2.88 and a beta of 0.63. Everest Group has a 12 month low of $343.76 and a 12 month high of $417.04.

Insider Buying and Selling at Everest Group

In other news, Director William F. Galtney, Jr. bought 2,870 shares of the stock in a transaction dated Monday, November 4th. The stock was bought at an average price of $348.64 per share, for a total transaction of $1,000,596.80. Following the purchase, the director now directly owns 32,822 shares in the company, valued at $11,443,062.08. This trade represents a 9.58 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $74,000.00. Following the completion of the transaction, the chief operating officer now owns 15,009 shares of the company's stock, valued at approximately $5,553,330. This trade represents a 1.32 % decrease in their position. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Everest Group

A number of hedge funds and other institutional investors have recently modified their holdings of EG. Synovus Financial Corp boosted its stake in Everest Group by 116.4% during the third quarter. Synovus Financial Corp now owns 4,561 shares of the company's stock worth $1,787,000 after acquiring an additional 2,453 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in Everest Group in the 3rd quarter worth about $64,000. World Investment Advisors LLC purchased a new stake in shares of Everest Group during the third quarter valued at approximately $350,000. Sanctuary Advisors LLC lifted its position in Everest Group by 7.0% in the 3rd quarter. Sanctuary Advisors LLC now owns 1,366 shares of the company's stock valued at $531,000 after acquiring an additional 89 shares in the last quarter. Finally, Pine Valley Investments Ltd Liability Co purchased a new stake in Everest Group during the 3rd quarter valued at $2,551,000. 92.64% of the stock is 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.