Everest Group (NYSE:EG) Price Target Cut to $407.00 by Analysts at Keefe, Bruyette & Woods

Everest Group (NYSE:EG) had its target price cut by Keefe, Bruyette & Woods from $414.00 to $407.00 in a report issued on Monday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other research firms have also recently weighed in on EG. Royal Bank Of Canada assumed coverage on Everest Group in a report on Tuesday, September 22nd. They issued an “outperform” rating and a $455.00 price target on the stock. Citigroup lifted their price target on Everest Group from $395.00 to $415.00 and gave the company a “neutral” rating in a research report on Friday, July 31st. Rosenblatt Securities set a $455.00 price objective on Everest Group in a report on Tuesday, September 22nd. Morgan Stanley upped their price objective on shares of Everest Group from $355.00 to $360.00 and gave the stock an “equal weight” rating in a research report on Monday, July 6th. Finally, UBS Group upped their price objective on shares of Everest Group from $374.00 to $395.00 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. Five research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $407.94.

Everest Group Trading Up 1.1%

Everest Group stock opened at $372.52 on Monday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.35 and a current ratio of 0.35. Everest Group has a fifty-two week low of $302.44 and a fifty-two week high of $401.07. The stock has a market cap of $14.28 billion, a P/E ratio of 7.88, a PEG ratio of 0.55 and a beta of 0.26. The firm’s fifty day moving average price is $372.08 and its 200-day moving average price is $357.69.

Everest Group (NYSE:EG) last posted its quarterly earnings data on Tuesday, June 30th. The company reported $14.85 earnings per share (EPS) for the quarter. Everest Group had a return on equity of 13.63% and a net margin of 11.41%. The company had revenue of $3.96 billion during the quarter. Equities research analysts forecast that Everest Group will post 54.49 earnings per share for the current fiscal year.

Everest Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Wednesday, September 9th were given a $2.00 dividend. The ex-dividend date was Wednesday, September 9th. This represents a $8.00 annualized dividend and a yield of 2.1%. Everest Group’s payout ratio is 16.92%.

Institutional Investors Weigh In On Everest Group

A number of large investors have recently added to or reduced their stakes in EG. BlackRock Inc. purchased a new position in shares of Everest Group in the second quarter worth $1,150,555,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in Everest Group during the 2nd quarter valued at $350,718,000. William Blair Investment Management LLC purchased a new stake in Everest Group during the 2nd quarter valued at $171,426,000. Donald Smith & CO. Inc. purchased a new stake in Everest Group during the 2nd quarter valued at $153,206,000. Finally, Hsbc Holdings PLC grew its holdings in Everest Group by 507.4% in the 1st quarter. Hsbc Holdings PLC now owns 449,919 shares of the company’s stock worth $147,102,000 after acquiring an additional 375,846 shares during the last quarter. Hedge funds and other institutional investors own 92.64% of the company’s stock.

About Everest Group

Everest Group, Ltd. is a global specialty insurance and reinsurance company headquartered in Hamilton, Bermuda. The company provides risk-management and underwriting solutions to businesses, institutions, and insurance companies through its insurance and reinsurance operations.

Everest’s products and services include property and casualty insurance, specialty insurance, and reinsurance coverage. Its offerings address a range of risks, including property, casualty, workers’ compensation, professional liability, marine, aviation, accident and health, and other specialty exposures.