Everest Group (NYSE:EG) Stock Rating Lowered by Citigroup

Everest Group (NYSE:EGGet Free Report) was downgraded by analysts at Citigroup from a “buy” rating to a “neutral” rating in a report released on Monday, Briefing.com reports. They presently have a $375.00 price target on the stock, down from their previous price target of $452.00. Citigroup’s target price indicates a potential upside of 6.00% from the stock’s previous close.

EG has been the topic of several other reports. Wells Fargo & Company lowered shares of Everest Group from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $484.00 to $402.00 in a research report on Friday. Keefe, Bruyette & Woods increased their price target on shares of Everest Group from $450.00 to $460.00 and gave the company an “outperform” rating in a research report on Wednesday, November 15th. TD Cowen initiated coverage on Everest Group in a research report on Wednesday, January 10th. They set a “market perform” rating and a $421.00 price objective for the company. Raymond James increased their target price on Everest Group from $455.00 to $460.00 and gave the company a “strong-buy” rating in a report on Monday, November 20th. Finally, Evercore ISI started coverage on Everest Group in a report on Thursday, December 14th. They issued an “inline” rating and a $431.00 price target for the company. Three investment 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’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $436.33.

Get Our Latest Analysis on EG

Everest Group Price Performance

EG stock opened at $353.76 on Monday. The firm has a 50 day moving average of $371.30 and a 200-day moving average of $376.84. The company has a market cap of $15.35 billion, a price-to-earnings ratio of 5.92, a PEG ratio of 0.21 and a beta of 0.57. The company has a current ratio of 0.34, a quick ratio of 0.38 and a debt-to-equity ratio of 0.26. Everest Group has a 12-month low of $331.08 and a 12-month high of $417.92.

Everest Group (NYSE:EGGet Free Report) last released its quarterly earnings data on Wednesday, February 7th. The company reported $25.18 earnings per share for the quarter, beating the consensus estimate of $14.63 by $10.55. The firm had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.85 billion. Everest Group had a return on equity of 25.05% and a net margin of 17.26%. Everest Group’s quarterly revenue was up 12.4% on a year-over-year basis. During the same period last year, the business posted $12.21 EPS. As a group, equities analysts expect that Everest Group will post 61.94 EPS for the current fiscal year.

Institutional Trading of Everest Group

Hedge funds have recently added to or reduced their stakes in the business. Allworth Financial LP acquired a new stake in shares of Everest Group during the 4th quarter worth $25,000. Avior Wealth Management LLC purchased a new stake in shares of Everest Group during the 4th quarter worth about $25,000. Headlands Technologies LLC acquired a new stake in Everest Group during the 4th quarter worth approximately $25,000. Janiczek Wealth Management LLC purchased a new position in Everest Group in the fourth quarter valued at approximately $27,000. Finally, Trifecta Capital Advisors LLC acquired a new position in Everest Group during the fourth quarter valued at approximately $28,000. 90.45% of the stock is owned by institutional investors and hedge funds.

About Everest Group

(Get Free Report)

Everest Group, Ltd., through its subsidiaries, provides reinsurance and insurance products in the United States, Bermuda, and internationally. The company operates through Reinsurance Operations and Insurance Operations segments. The Reinsurance Operations 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.

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Analyst Recommendations for Everest Group (NYSE:EG)

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