Everest Group (NYSE:EG) Price Target Lowered to $361.00 at Wells Fargo & Company

Everest Group (NYSE:EG) had its price objective decreased by equities researchers at Wells Fargo & Company from $362.00 to $361.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 5.55% from the company’s previous close.

EG has been the subject of a number of other reports. Morgan Stanley reissued an “equal weight” rating and issued a $340.00 price target (down from $425.00) on shares of Everest Group in a research report on Wednesday, February 5th. UBS Group cut their price objective on Everest Group from $375.00 to $372.00 and set a “neutral” rating for the company in a report on Wednesday, April 9th. Keefe, Bruyette & Woods dropped their target price on Everest Group from $434.00 to $402.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. BMO Capital Markets cut Everest Group from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $453.00 to $375.00 in a research note on Thursday, January 30th. Finally, Evercore ISI cut their price objective on shares of Everest Group from $400.00 to $396.00 and set an “in-line” rating on the stock in a research report on Thursday, May 1st. Six research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $397.18.

Everest Group Trading Down 0.8 %

Shares of EG opened at $342.02 on Tuesday. The business’s 50-day moving average price is $353.12 and its 200 day moving average price is $358.74. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $16.34 billion, a P/E ratio of 10.89, a P/E/G ratio of 0.24 and a beta of 0.58. Everest Group has a 1-year low of $320.00 and a 1-year high of $407.30.

Everest Group (NYSE:EG) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $6.45 earnings per share for the quarter, missing the consensus estimate of $7.46 by ($1.01). The firm had revenue of $4.26 billion for the quarter, compared to analysts’ expectations of $3.89 billion. Everest Group had a return on equity of 9.04% and a net margin of 7.95%. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $16.32 earnings per share. Analysts expect that Everest Group will post 47.93 earnings per share for the current year.

Insider Activity at Everest Group

In other Everest Group news, Director Geraldine Losquadro sold 1,500 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $360.63, for a total transaction of $540,945.00. Following the completion of the transaction, the director now directly owns 12,279 shares in the company, valued at $4,428,175.77. This represents a 10.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.10% of the company’s stock.

Institutional Trading of Everest Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. World Investment Advisors LLC acquired a new stake in Everest Group in the third quarter worth about $350,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Everest Group in the 3rd quarter valued at $64,000. Principal Financial Group Inc. boosted its position in shares of Everest Group by 5.5% in the 3rd quarter. Principal Financial Group Inc. now owns 53,892 shares of the company’s stock worth $21,117,000 after purchasing an additional 2,818 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Everest Group by 19.5% in the third quarter. JPMorgan Chase & Co. now owns 78,469 shares of the company’s stock valued at $30,747,000 after purchasing an additional 12,791 shares during the last quarter. Finally, Legend Financial Advisors Inc. lifted its stake in Everest Group by 6.5% in the fourth quarter. Legend Financial Advisors Inc. now owns 1,860 shares of the company’s stock valued at $674,000 after buying an additional 113 shares during the period. 92.64% of the stock is currently owned by institutional investors and hedge funds.

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.