UBS Group Cuts Everest Group (NYSE:EG) Price Target to $372.00

Everest Group (NYSE:EG) had its target price reduced by UBS Group from $375.00 to $372.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities analysts have also recently issued reports on EG. Wells Fargo & Company lowered their target price on Everest Group from $390.00 to $380.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. Barclays upped their price objective on Everest Group from $461.00 to $470.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Keefe, Bruyette & Woods dropped their price objective on shares of Everest Group from $434.00 to $402.00 and set an “outperform” rating for the company in a report on Wednesday. BMO Capital Markets lowered shares of Everest Group from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $453.00 to $375.00 in a report on Thursday, January 30th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $340.00 price target (down previously from $425.00) on shares of Everest Group in a research note 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’s stock. Based on data from MarketBeat, Everest Group currently has an average rating of “Hold” and a consensus target price of $396.00.

Everest Group Trading Up 2.5 %

EG opened at $349.79 on Wednesday. The company has a market cap of $16.71 billion, a P/E ratio of 11.14, a PEG 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. The company’s 50 day moving average is $348.82 and its 200-day moving average is $363.47. Everest Group has a 1-year low of $320.00 and a 1-year high of $407.30.

Everest Group (NYSE:EG) last issued its quarterly earnings data on Monday, February 3rd. The company reported ($18.39) 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%. Equities research analysts predict that Everest Group will post 47.93 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

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

Insider Buying and Selling

In other Everest Group news, Director Geraldine Losquadro sold 1,500 shares of the stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $360.63, for a total transaction of $540,945.00. Following the transaction, the director now directly owns 12,279 shares in the company, valued at approximately $4,428,175.77. This represents a 10.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.20% of the stock is owned by insiders.

Institutional Trading of Everest Group

Hedge funds have recently modified their holdings of the stock. Sunbelt Securities Inc. acquired a new stake in Everest Group in the fourth quarter worth $29,000. SBI Securities Co. Ltd. acquired a new stake in shares of Everest Group in the 4th quarter valued at about $31,000. Optiver Holding B.V. bought a new stake in Everest Group in the 4th quarter valued at about $51,000. Wilmington Savings Fund Society FSB acquired a new position in Everest Group during the 3rd quarter worth approximately $64,000. Finally, Private Trust Co. NA boosted its holdings in Everest Group by 48.5% in the fourth quarter. Private Trust Co. NA now owns 196 shares of the company’s stock worth $71,000 after acquiring an additional 64 shares in the last quarter. Institutional investors 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.