Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Everest Group (NYSE:EG) Stock

Everest Group (NYSE:EG) had its price target boosted by Keefe, Bruyette & Woods from $420.00 to $434.00 in a research note issued to investors on Friday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

Other research analysts also recently issued research reports about the company. Wells Fargo & Company lowered their target price on Everest Group from $402.00 to $390.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 4th. UBS Group upgraded Everest Group to a “hold” rating in a report on Wednesday, October 9th. Jefferies Financial Group downgraded shares of Everest Group from a “buy” rating to a “hold” rating and boosted their target price for the stock from $420.00 to $429.00 in a research report on Tuesday, November 26th. Barclays dropped their price target on shares of Everest Group from $517.00 to $499.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Finally, Bank of America lowered their target price on shares of Everest Group from $496.00 to $485.00 and set a “buy” rating on the stock in a research report on Thursday, October 10th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $436.56.

Everest Group Trading Down 3.9 %

Everest Group stock opened at $353.95 on Friday. Everest Group has a 12 month low of $343.76 and a 12 month high of $407.30. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.22. The stock has a market cap 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 company’s fifty day simple moving average is $368.10 and its 200-day simple moving average is $376.99.

Everest Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Wednesday, November 27th were paid a dividend of $2.00 per share. The ex-dividend date was Wednesday, November 27th. This represents a $8.00 annualized dividend and a yield of 2.26%. Everest Group’s payout ratio is 12.52%.

Insider Transactions at Everest Group

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

Hedge Funds Weigh In On Everest Group

Hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC raised its stake in shares of Everest Group by 284.8% in the 3rd quarter. SG Americas Securities LLC now owns 24,556 shares of the company’s stock valued at $9,622,000 after buying an additional 18,175 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in shares of Everest Group in the 2nd quarter valued at $921,000. Brophy Wealth Management LLC acquired a new position in shares of Everest Group in the 3rd quarter valued at $749,000. JPMorgan Chase & Co. raised its stake in shares of Everest Group by 19.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 78,469 shares of the company’s stock valued at $30,747,000 after buying an additional 12,791 shares in the last quarter. Finally, Intech Investment Management LLC grew its holdings in shares of Everest Group by 13.1% in the 3rd quarter. Intech Investment Management LLC now owns 27,324 shares of the company’s stock worth $10,706,000 after purchasing an additional 3,166 shares during the last quarter. Institutional investors and hedge funds own 92.64% of the company’s stock.

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.