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Citigroup Initiates Coverage on Neutral, PT $362: Everest Group
ByAinvest
Wednesday, Aug 13, 2025 7:52 am ET1min read
Citigroup Initiates Coverage on Neutral, PT $362: Everest Group
Title: Citigroup Initiates Coverage on Everest Group with Neutral Rating and Price Target of $362Citigroup has initiated coverage on Everest Group, Ltd. (NYSE: EG), assigning a neutral rating and setting a price target of $362. This marks Citigroup's entry into the investment landscape for Everest Group, which has been the subject of various analyst reports and institutional investor activity.
Analyst Ratings and Price Targets
Everest Group has seen a range of analyst ratings and price targets from different firms. Raymond James Financial reaffirmed a "strong-buy" rating and set a price target of $410.00, while UBS Group decreased their price target to $370.00 with a neutral rating. Morgan Stanley lifted their price target to $350.00 with an "equal weight" rating. Janney Montgomery Scott set a "buy" rating with a price target of $425.00. Wells Fargo & Company reiterated a "mixed" rating [2].
Institutional Investor Activity
Several institutional investors have recently increased their holdings in Everest Group. Mitsubishi UFJ Asset Management Co. Ltd. raised its position by 13.5% during the first quarter, owning 78,859 shares valued at $28,652,000. Flagship Harbor Advisors LLC, Legacy Advisors LLC, Nissay Asset Management Corp Japan ADV, Vontobel Holding Ltd., and Baader Bank Aktiengesellschaft also increased their stakes in the company [2].
Recent Financial Performance
Everest Group reported earnings of $17.36 per share for the latest quarter, exceeding analysts' estimates by $2.22. The company's revenue for the quarter was $4.49 billion, up 6.2% year-over-year. The company's return on equity was 5.89%, and it declared a quarterly dividend of $2.00 per share [2].
Conclusion
Citigroup's neutral rating and price target of $362 reflect a cautious outlook on Everest Group's future performance. The company's recent financial performance and analyst ratings suggest a mix of bullish and bearish sentiments. Investors should consider the latest earnings report and analyst opinions before making investment decisions.
References
[1] https://www.marketbeat.com/stocks/NYSE/EG/forecast/
[2] https://www.marketbeat.com/instant-alerts/filing-mitsubishi-ufj-asset-management-co-ltd-purchases-9402-shares-of-everest-group-ltd-nyseeg-2025-08-11/
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