Everest Group (NYSE:EG) Stock Rating Upgraded by Royal Bank Of Canada

Everest Group (NYSE:EG) was upgraded by stock analysts at Royal Bank Of Canada to a “moderate buy” rating in a research report issued on Tuesday, Zacks reports.

Other research analysts also recently issued reports about the company. UBS Group lifted their price objective on Everest Group from $374.00 to $395.00 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. Wells Fargo & Company increased their target price on Everest Group from $373.00 to $396.00 and gave the company an “equal weight” rating in a report on Friday, July 31st. Weiss Ratings raised Everest Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, July 10th. Rosenblatt Securities set a $455.00 price target on Everest Group in a report on Tuesday. Finally, Keefe, Bruyette & Woods upped their price objective on Everest Group from $411.00 to $414.00 and gave the company an “outperform” rating in a research report on Wednesday, July 8th. Five research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $409.50.

Everest Group Price Performance

Everest Group stock opened at $372.46 on Tuesday. The firm has a market capitalization of $14.28 billion, a PE ratio of 7.88, a P/E/G ratio of 0.72 and a beta of 0.28. Everest Group has a 52 week low of $302.44 and a 52 week high of $401.07. The firm’s 50-day simple moving average is $375.25 and its 200 day simple moving average is $353.50. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.23.

Everest Group (NYSE:EG) last posted its earnings results on Tuesday, June 30th. The company reported $14.85 earnings per share for the quarter. Everest Group had a net margin of 11.41% and a return on equity of 13.63%. The firm had revenue of $3.96 billion during the quarter. On average, equities research analysts predict that Everest Group will post 53.66 EPS for the current fiscal year.

Institutional Investors Weigh In On Everest Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Baird Financial Group Inc. boosted its holdings in shares of Everest Group by 2.6% in the 2nd quarter. Baird Financial Group Inc. now owns 1,317 shares of the company’s stock valued at $470,000 after buying an additional 33 shares during the period. MBA Advisors LLC raised its stake in Everest Group by 5.4% during the second quarter. MBA Advisors LLC now owns 666 shares of the company’s stock worth $238,000 after acquiring an additional 34 shares during the period. V Square Quantitative Management LLC raised its stake in Everest Group by 4.0% during the first quarter. V Square Quantitative Management LLC now owns 968 shares of the company’s stock worth $316,000 after acquiring an additional 37 shares during the period. Tred Avon Family Wealth LLC lifted its holdings in Everest Group by 6.5% in the first quarter. Tred Avon Family Wealth LLC now owns 657 shares of the company’s stock worth $215,000 after acquiring an additional 40 shares during the last quarter. Finally, Center For Asset Management LLC lifted its holdings in Everest Group by 4.7% in the first quarter. Center For Asset Management LLC now owns 932 shares of the company’s stock worth $305,000 after acquiring an additional 42 shares during the last quarter. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Everest Group Company Profile

Everest Group, Ltd. (NYSE: EG) is a global insurance and reinsurance company headquartered in Hamilton, Bermuda. Through its operating subsidiaries, the company provides property and casualty insurance and reinsurance products to businesses, insurers and other institutional clients.

Everest’s reinsurance operations cover a range of property, casualty and specialty risks, while its insurance business offers commercial coverage in areas such as property, casualty, specialty, marine, accident and health.