Everest Group (NYSE:EG) Stock Rating Upgraded by UBS Group

by · The Cerbat Gem

Everest Group (NYSE:EG – Get Free Report) was upgraded by research analysts at UBS Group to a “hold” rating in a research note issued on Wednesday, Zacks.com reports.

A number of other equities research analysts also recently issued reports on EG. Morgan Stanley cut their target price on shares of Everest Group from $450.00 to $445.00 and set an “overweight” rating for the company in a research report on Wednesday, July 10th. Keefe, Bruyette & Woods cut their target price on shares of Everest Group from $454.00 to $438.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Wells Fargo & Company increased their target price on shares of Everest Group from $393.00 to $406.00 and gave the stock an “equal weight” rating in a research report on Thursday. Barclays assumed coverage on shares of Everest Group in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $527.00 target price for the company. Finally, Jefferies Financial Group increased their target price on shares of Everest Group from $440.00 to $457.00 and gave the stock a “buy” rating in a research report on Wednesday. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $439.27.

Read Our Latest Stock Analysis on Everest Group

Everest Group Stock Up 1.3 %

Shares of NYSE:EG opened at $393.86 on Wednesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.38 and a current ratio of 0.38. The company has a market cap of $16.96 billion, a PE ratio of 5.82, a price-to-earnings-growth ratio of 2.70 and a beta of 0.61. Everest Group has a 52 week low of $343.76 and a 52 week high of $417.92. The firm has a 50 day simple moving average of $382.30 and a 200 day simple moving average of $380.67.

Everest Group (NYSE:EG – Get Free Report) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $16.85 EPS for the quarter, missing the consensus estimate of $16.97 by ($0.12). Everest Group had a net margin of 18.36% and a return on equity of 24.09%. The firm had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.32 billion. During the same quarter last year, the company posted $15.21 EPS. The firm’s revenue was up 15.8% compared to the same quarter last year. As a group, research analysts expect that Everest Group will post 61.78 earnings per share for the current year.

Hedge Funds Weigh In On Everest Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Csenge Advisory Group lifted its holdings in shares of Everest Group by 2.2% during the 2nd quarter. Csenge Advisory Group now owns 1,239 shares of the company’s stock worth $472,000 after acquiring an additional 27 shares during the period. Legend Financial Advisors Inc. lifted its holdings in shares of Everest Group by 1.6% during the 2nd quarter. Legend Financial Advisors Inc. now owns 1,765 shares of the company’s stock worth $672,000 after acquiring an additional 27 shares during the period. First Trust Direct Indexing L.P. lifted its holdings in shares of Everest Group by 0.9% during the 1st quarter. First Trust Direct Indexing L.P. now owns 2,976 shares of the company’s stock worth $1,183,000 after acquiring an additional 28 shares during the period. Wedmont Private Capital lifted its holdings in shares of Everest Group by 4.8% during the 3rd quarter. Wedmont Private Capital now owns 638 shares of the company’s stock worth $238,000 after acquiring an additional 29 shares during the period. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in Everest Group by 36.9% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 115 shares of the company’s stock valued at $44,000 after purchasing an additional 31 shares during the last quarter. 92.64% of the stock is owned by institutional investors.

Everest Group Company Profile

(Get Free Report)

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.

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