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Investing.com - Evercore ISI has reiterated its In Line rating and $362.00 price target on Everest Group (NYSE:EG) following a change in the company’s chief financial officer position. The target represents a 19% upside from the current price of $304.99, with InvestingPro data showing the stock is trading near its 52-week low of $302.44 and appears undervalued based on Fair Value estimates.
The research firm noted that the incoming CFO, Mr. Habayeb, is "a well-respected and experienced insurance CFO" according to Evercore ISI analyst David Motemaden.
Evercore ISI suggested the leadership change could potentially lead to operational adjustments at Everest Group, specifically mentioning the possibility of "more frequent reserve reviews" compared to the company’s current annual review schedule.
The firm questioned whether implementing more frequent reviews would be feasible given the long-tail nature of Everest Group’s reinsurance business, while also suggesting the new CFO might provide "incremental disclosure to help investors get comfort in reserves."
Evercore ISI also raised the possibility that the CFO transition "could create an opportunity to take further action on the casualty Re reserves" at Everest Group. Despite recent stock weakness (-6.51% over the past week), the company has maintained dividend payments for 31 consecutive years, with a current yield of 2.62%. InvestingPro identifies several additional insights, including that the stock is in oversold territory. A comprehensive Pro Research Report is available for this prominent insurance industry player, one of 1,400+ US equities covered in-depth.
In other recent news, Everest Group has announced a dividend of $2.00 per share, payable on or before December 12, 2025, to shareholders of record as of November 26, 2025. This follows the company’s third-quarter earnings report, which prompted several analyst actions. Raymond James lowered its price target for Everest Group to $350.00, citing a cautious outlook on growth as the company undergoes operational repositioning. Keefe, Bruyette & Woods also reduced its price target to $400.00, maintaining an Outperform rating, with the new target reflecting 105% of the firm’s updated year-end 2025 estimated book value per share. Wolfe Research upgraded Everest Group’s stock rating from Underperform to Peerperform, following a significant reserving action by the company. Additionally, Everest Group appointed Gary Haase as Executive Vice President and CEO of Legacy Operations, effective December 1, 2025. This appointment comes after the company’s $2 billion sale of its commercial retail insurance business renewal rights to AIG, a strategic move to concentrate on core global businesses.
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