Everest Group (NYSE:EG) Price Target Cut to $450.00 by Analysts at Morgan Stanley

Everest Group (NYSE:EG) had its target price lowered by Morgan Stanley from $466.00 to $450.00 in a research report sent to investors on Monday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other analysts have also weighed in on EG. Wells Fargo & Company decreased their target price on shares of Everest Group from $402.00 to $397.00 and set an equal weight rating on the stock in a report on Thursday, April 11th. Citigroup downgraded Everest Group from a buy rating to a neutral rating and lowered their price objective for the stock from $452.00 to $375.00 in a research report on Monday, February 12th. TD Cowen assumed coverage on Everest Group in a research report on Wednesday, January 10th. They set a market perform rating and a $421.00 target price for the company. Finally, Keefe, Bruyette & Woods raised their price target on Everest Group from $445.00 to $457.00 and gave the company an outperform rating in a report on Wednesday, April 10th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Everest Group has an average rating of Moderate Buy and an average price target of $432.11.

Everest Group Price Performance

Shares of NYSE EG opened at $357.20 on Monday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.37 and a current ratio of 0.37. Everest Group has a fifty-two week low of $331.08 and a fifty-two week high of $417.92. The stock has a market cap of $19.02 billion, a PE ratio of 5.98, a price-to-earnings-growth ratio of 3.17 and a beta of 0.56. The stock has a fifty day moving average of $375.51 and a 200-day moving average of $380.33.

Everest Group (NYSE:EG) last issued its earnings results on Wednesday, February 7th. The company reported $25.18 EPS for the quarter, topping the consensus estimate of $14.63 by $10.55. Everest Group had a return on equity of 25.05% and a net margin of 17.26%. The business had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.85 billion. During the same quarter last year, the company earned $12.21 EPS. The firm’s revenue was up 12.4% compared to the same quarter last year. Equities research analysts anticipate that Everest Group will post 61.21 earnings per share for the current year.

Everest Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Tuesday, March 19th were given a dividend of $1.75 per share. The ex-dividend date was Monday, March 18th. This represents a $7.00 annualized dividend and a dividend yield of 1.96%. Everest Group’s dividend payout ratio (DPR) is presently 11.72%.

Insider Activity at Everest Group

In other Everest Group news, CEO Mike Karmilowicz acquired 285 shares of the stock in a transaction dated Friday, February 9th. The stock was purchased at an average cost of $352.39 per share, for a total transaction of $100,431.15. Following the acquisition, the chief executive officer now owns 10,586 shares in the company, valued at approximately $3,730,400.54. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Mike Karmilowicz acquired 285 shares of Everest Group stock in a transaction dated Friday, February 9th. The shares were purchased at an average cost of $352.39 per share, with a total value of $100,431.15. Following the completion of the purchase, the chief executive officer now owns 10,586 shares of the company’s stock, valued at $3,730,400.54. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Mark Kociancic bought 1,000 shares of the stock in a transaction dated Friday, February 9th. The stock was bought at an average cost of $349.00 per share, with a total value of $349,000.00. Following the purchase, the chief financial officer now owns 25,733 shares in the company, valued at approximately $8,980,817. The disclosure for this purchase can be found here. In the last three months, insiders have bought 2,485 shares of company stock valued at $874,786. Corporate insiders own 1.40% of the company’s stock.

Institutional Trading of Everest Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Allworth Financial LP bought a new position in shares of Everest Group during the fourth quarter valued at about $25,000. Avior Wealth Management LLC purchased a new stake in Everest Group in the 4th quarter worth approximately $25,000. Headlands Technologies LLC bought a new stake in shares of Everest Group in the 4th quarter worth approximately $25,000. Janiczek Wealth Management LLC purchased a new position in shares of Everest Group during the fourth quarter valued at approximately $27,000. Finally, Trifecta Capital Advisors LLC bought a new position in shares of Everest Group during the fourth quarter valued at approximately $28,000. Institutional investors own 92.64% of the company’s stock.

Everest Group Company Profile

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.