Jefferies Financial Group Downgrades Everest Group (NYSE:EG) to Hold

Everest Group (NYSE:EG) was downgraded by stock analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Briefing.com Automated Import reports. They currently have a $429.00 price target on the stock, up from their previous price target of $420.00. Jefferies Financial Group’s price target would indicate a potential upside of 9.91% from the stock’s previous close.

A number of other equities analysts also recently weighed in on EG. BMO Capital Markets dropped their price target on shares of Everest Group from $383.00 to $372.00 and set a “market perform” rating on the stock in a research note on Thursday, November 14th. UBS Group raised Everest Group to a “hold” rating in a research report on Wednesday, October 9th. Bank of America decreased their target price on Everest Group from $496.00 to $485.00 and set a “buy” rating on the stock in a research report on Thursday, October 10th. Wells Fargo & Company lowered their price target on Everest Group from $406.00 to $402.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 5th. Finally, TD Cowen dropped their price target on Everest Group from $444.00 to $419.00 and set a “hold” rating for the company in a report on Monday, November 18th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Everest Group currently has an average rating of “Hold” and a consensus target price of $431.30.

Everest Group Price Performance

NYSE:EG opened at $390.31 on Tuesday. The business’s 50-day moving average price is $380.77 and its 200 day moving average price is $380.80. The firm has a market cap of $16.78 billion, a P/E ratio of 6.11, a PEG ratio of 2.88 and a beta of 0.63. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.22. Everest Group has a 52-week low of $343.76 and a 52-week high of $417.04.

Insider Buying and Selling at Everest Group

In related news, COO James Allan Williamson sold 200 shares of the business’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $370.00, for a total transaction of $74,000.00. Following the transaction, the chief operating officer now directly owns 15,009 shares in the company, valued at approximately $5,553,330. The trade was a 1.32 % decrease in their ownership of the stock. The transaction 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 Everest Group stock in a transaction on Monday, November 4th. The shares were purchased at an average cost of $348.64 per share, with a total value of $1,000,596.80. Following the completion of the acquisition, the director now owns 32,822 shares of the company’s stock, valued at $11,443,062.08. This trade represents a 9.58 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of EG. Mizuho Securities USA LLC lifted its position in Everest Group by 12,263.1% in the third quarter. Mizuho Securities USA LLC now owns 415,400 shares of the company’s stock valued at $162,766,000 after purchasing an additional 412,040 shares during the last quarter. World Investment Advisors LLC bought a new position in Everest Group in the third quarter worth $120,564,000. Boston Partners boosted its stake 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Everest Group by 442.4% in the 3rd 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 buying an additional 251,337 shares during the last quarter. Finally, William Blair Investment Management LLC increased its holdings in shares of Everest Group by 30.2% during the second quarter. William Blair Investment Management LLC now owns 580,171 shares of the company’s stock valued at $221,057,000 after acquiring an additional 134,517 shares in the last quarter. Hedge funds and other 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.