TD Cowen Lowers Everest Group (NYSE:EG) Price Target to $419.00

Everest Group (NYSE:EG) had its price target decreased by stock analysts at TD Cowen from $444.00 to $419.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. TD Cowen’s price objective would indicate a potential upside of 12.84% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. BMO Capital Markets reduced their price target on shares of Everest Group from $383.00 to $372.00 and set a “market perform” rating for the company in a report on Thursday. Barclays reduced their price target on shares of Everest Group from $527.00 to $517.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Jefferies Financial Group upped their price target on shares of Everest Group from $440.00 to $457.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. UBS Group upgraded shares of Everest Group to a “hold” rating in a report on Wednesday, October 9th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Everest Group from $454.00 to $438.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $436.45.

Everest Group Stock Down 0.0 %

Shares of Everest Group stock traded down $0.01 on Monday, hitting $371.32. The company had a trading volume of 50,532 shares, compared to its average volume of 347,747. The firm has a market capitalization of $15.96 billion, a P/E ratio of 5.81, a P/E/G ratio of 2.66 and a beta of 0.63. Everest Group has a twelve month low of $343.76 and a twelve month high of $417.92. 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 stock has a 50-day moving average of $380.99 and a 200-day moving average of $380.69.

Insiders Place Their Bets

In other news, EVP Mike Karmilowicz sold 269 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $348.48, for a total value of $93,741.12. Following the transaction, the executive vice president now directly owns 12,726 shares of the company’s stock, valued at $4,434,756.48. This represents a 2.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 bought at an average cost of $348.64 per share, for a total transaction of $1,000,596.80. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Everest Group

Several large investors have recently modified their holdings of the stock. Mizuho Securities USA LLC increased its position in Everest Group by 12,263.1% during the third quarter. Mizuho Securities USA LLC now owns 415,400 shares of the company’s stock worth $162,766,000 after acquiring an additional 412,040 shares during the period. World Investment Advisors LLC bought a new position in Everest Group during the third quarter worth about $120,564,000. Boston Partners increased its position in Everest Group by 29.1% during the first quarter. Boston Partners now owns 1,197,457 shares of the company’s stock worth $475,750,000 after acquiring an additional 269,665 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Everest Group by 442.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 308,155 shares of the company’s stock worth $120,744,000 after acquiring an additional 251,337 shares during the period. Finally, William Blair Investment Management LLC increased its position in Everest Group by 30.2% during the second quarter. William Blair Investment Management LLC now owns 580,171 shares of the company’s stock worth $221,057,000 after acquiring an additional 134,517 shares during the period. 92.64% of the stock is owned by 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.