Wells Fargo & Company Has Lowered Expectations for Everest Group (NYSE:EG) Stock Price

Everest Group (NYSE:EG) had its target price lowered by Wells Fargo & Company from $370.00 to $362.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential upside of 3.49% from the stock’s previous close.

EG has been the subject of several other research reports. UBS Group reduced their price target on shares of Everest Group from $375.00 to $372.00 and set a “neutral” rating for the company in a research report on Wednesday. Keefe, Bruyette & Woods dropped their price objective on Everest Group from $434.00 to $402.00 and set an “outperform” rating for the company in a research note on Wednesday. BMO Capital Markets downgraded shares of Everest Group from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $453.00 to $375.00 in a report on Thursday, January 30th. Morgan Stanley reissued an “equal weight” rating and issued a $340.00 target price (down from $425.00) on shares of Everest Group in a report on Wednesday, February 5th. Finally, Barclays boosted their price objective on Everest Group from $461.00 to $470.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $396.00.

Everest Group Stock Performance

Shares of EG stock opened at $349.79 on Thursday. The company’s 50-day moving average is $348.82 and its 200 day moving average is $363.47. The company has a market capitalization of $16.71 billion, a price-to-earnings ratio of 11.14, a price-to-earnings-growth ratio of 0.24 and a beta of 0.43. Everest Group has a one year low of $320.00 and a one year high of $407.30. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.40 and a current ratio of 0.40.

Everest Group (NYSE:EG) last released its quarterly earnings data on Monday, February 3rd. The company reported ($18.39) EPS for the quarter, missing the consensus estimate of $11.64 by ($30.03). Everest Group had a net margin of 7.95% and a return on equity of 9.04%. Sell-side analysts expect that Everest Group will post 47.93 EPS for the current fiscal year.

Insider Activity at Everest Group

In other Everest Group news, Director Geraldine Losquadro sold 1,500 shares of the stock in a transaction dated Tuesday, March 18th. The shares were 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 owns 12,279 shares of the company’s stock, valued at $4,428,175.77. This trade represents a 10.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Everest Group

Several large investors have recently made changes to their positions in EG. Dakota Wealth Management raised its position in Everest Group by 1.7% in the fourth quarter. Dakota Wealth Management now owns 1,945 shares of the company’s stock valued at $705,000 after purchasing an additional 32 shares during the period. Wilmington Savings Fund Society FSB grew its stake in shares of Everest Group by 19.6% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 195 shares of the company’s stock valued at $71,000 after buying an additional 32 shares in the last quarter. Steph & Co. raised its holdings in shares of Everest Group by 10.6% in the 4th quarter. Steph & Co. now owns 366 shares of the company’s stock valued at $133,000 after buying an additional 35 shares during the period. Lester Murray Antman dba SimplyRich lifted its stake in Everest Group by 2.7% during the 4th quarter. Lester Murray Antman dba SimplyRich now owns 1,328 shares of the company’s stock worth $481,000 after acquiring an additional 35 shares in the last quarter. Finally, Nissay Asset Management Corp Japan ADV lifted its stake in Everest Group by 0.7% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 5,315 shares of the company’s stock worth $1,913,000 after acquiring an additional 36 shares in the last quarter. 92.64% of the stock is currently owned by institutional investors and hedge funds.

Everest Group Company Profile

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.