Barclays Cuts Everest Group (NYSE:EG) Price Target to $461.00

Everest Group (NYSE:EG) had its price objective decreased by investment analysts at Barclays from $499.00 to $461.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price objective points to a potential upside of 23.62% from the stock’s current price.

A number of other equities research analysts have also recently commented on EG. UBS Group raised shares of Everest Group to a “hold” rating in a research note on Wednesday, October 9th. Jefferies Financial Group downgraded Everest Group from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $420.00 to $429.00 in a research report on Tuesday, November 26th. Wells Fargo & Company lowered their target price on Everest Group from $390.00 to $380.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Keefe, Bruyette & Woods boosted their price target on Everest Group from $420.00 to $434.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Finally, BMO Capital Markets upgraded shares of Everest Group from a “market perform” rating to an “outperform” rating and upped their target price for the company from $372.00 to $453.00 in a report on Friday, January 10th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $431.22.

Everest Group Stock Performance

NYSE EG opened at $372.92 on Tuesday. The business has a 50 day moving average price of $367.38 and a 200 day moving average price of $376.13. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.40 and a quick ratio of 0.40. The company has a market capitalization of $16.03 billion, a P/E ratio of 5.84, a PEG ratio of 2.47 and a beta of 0.65. Everest Group has a 1-year low of $343.76 and a 1-year high of $407.30.

Insider Buying and Selling at Everest Group

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

Hedge Funds Weigh In On Everest Group

Institutional investors have recently added to or reduced their stakes in the company. M&R Capital Management Inc. acquired a new position in shares of Everest Group in the third quarter worth about $29,000. Bruce G. Allen Investments LLC increased its holdings in Everest Group by 200.0% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 78 shares of the company’s stock worth $31,000 after purchasing an additional 52 shares during the last quarter. Eastern Bank acquired a new position in shares of Everest Group in the 3rd quarter valued at approximately $35,000. Brooklyn Investment Group purchased a new position in shares of Everest Group during the 3rd quarter valued at approximately $39,000. Finally, American National Bank & Trust grew its position in shares of Everest Group by 80.0% during the third quarter. American National Bank & Trust now owns 126 shares of the company’s stock worth $49,000 after buying an additional 56 shares in 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.