Barclays Cuts Everest Group (NYSE:EG) Price Target to $394.00

Everest Group (NYSE:EG) had its price target cut by Barclays from $470.00 to $394.00 in a research report released on Friday,Benzinga reports. They currently have an overweight rating on the stock.

EG has been the subject of several other reports. UBS Group lowered their target price on shares of Everest Group from $375.00 to $372.00 and set a “neutral” rating for the company in a research note on Wednesday, April 9th. Wells Fargo & Company lowered their price objective on Everest Group from $370.00 to $362.00 and set an “equal weight” rating for the company in a research report on Thursday. Jefferies Financial Group raised Everest Group from a “hold” rating to a “buy” rating and upped their target price for the company from $376.00 to $415.00 in a research report on Friday. BMO Capital Markets downgraded Everest Group from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $453.00 to $375.00 in a report on Thursday, January 30th. Finally, Morgan Stanley restated an “equal weight” rating and set a $340.00 price objective (down previously from $425.00) on shares of Everest Group in a report on Wednesday, February 5th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $396.00.

Everest Group Trading Up 2.5 %

Shares of NYSE:EG opened at $349.79 on Friday. The company has a market capitalization of $16.71 billion, a PE ratio of 11.14, a P/E/G ratio of 0.24 and a beta of 0.43. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.26. Everest Group has a 12-month low of $320.00 and a 12-month high of $407.30. The business’s fifty day simple moving average is $348.82 and its 200-day simple moving average is $363.30.

Everest Group (NYSE:EG) last posted its earnings results on Monday, February 3rd. The company reported ($18.39) earnings per share (EPS) for the quarter, missing the consensus estimate of $11.64 by ($30.03). Everest Group had a net margin of 7.95% and a return on equity of 9.04%. As a group, equities research analysts predict that Everest Group will post 47.93 earnings per share for the current fiscal year.

Everest Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 17th were issued a $2.00 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $8.00 annualized dividend and a yield of 2.29%. Everest Group’s dividend payout ratio (DPR) is presently 25.47%.

Insider Buying and Selling at Everest Group

In other news, Director Geraldine Losquadro sold 1,500 shares of the business’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $360.63, for a total value of $540,945.00. Following the completion of the transaction, the director now owns 12,279 shares of the company’s stock, valued at $4,428,175.77. The trade was a 10.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Janney Montgomery Scott LLC grew its stake in shares of Everest Group by 152.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 22,693 shares of the company’s stock worth $8,225,000 after purchasing an additional 13,687 shares during the period. JPMorgan Chase & Co. grew its position in Everest Group by 19.5% during the third 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 during the period. Principal Financial Group Inc. grew its position in Everest Group by 5.5% during the third quarter. Principal Financial Group Inc. now owns 53,892 shares of the company’s stock valued at $21,117,000 after buying an additional 2,818 shares during the period. Stifel Financial Corp raised its position in shares of Everest Group by 3.9% in the third quarter. Stifel Financial Corp now owns 4,347 shares of the company’s stock worth $1,704,000 after acquiring an additional 162 shares during the period. Finally, Atria Wealth Solutions Inc. purchased a new stake in shares of Everest Group during the 4th quarter worth about $325,000. 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.