Wells Fargo & Company Issues Pessimistic Forecast for Everest Group (NYSE:EG) Stock Price

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

Several other brokerages also recently weighed in on EG. UBS Group cut their price target on Everest Group from $375.00 to $372.00 and set a “neutral” rating for the company in a report on Wednesday, April 9th. Jefferies Financial Group raised Everest Group from a “hold” rating to a “buy” rating and raised their price target for the stock from $376.00 to $415.00 in a research note on Friday, April 11th. Barclays dropped their price objective on shares of Everest Group from $470.00 to $394.00 and set an “overweight” rating for the company in a research note on Friday, April 11th. BMO Capital Markets downgraded shares of Everest Group from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $453.00 to $375.00 in a research note on Thursday, January 30th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $340.00 price objective (down from $425.00) on shares of Everest Group in a research note on Wednesday, February 5th. Six analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $397.18.

Everest Group Trading Down 0.8 %

Shares of EG opened at $342.02 on Tuesday. Everest Group has a 1-year low of $320.00 and a 1-year high of $407.30. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.40 and a quick ratio of 0.40. The firm has a 50 day simple moving average of $353.12 and a 200-day simple moving average of $358.74. The stock has a market cap of $16.34 billion, a price-to-earnings ratio of 10.89, a price-to-earnings-growth ratio of 0.24 and a beta of 0.58.

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

Insiders Place Their Bets

In other news, Director Geraldine Losquadro sold 1,500 shares of the company’s 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 in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is owned by corporate insiders.

Institutional Trading of Everest Group

Large investors have recently added to or reduced their stakes in the business. Sunbelt Securities Inc. bought a new stake in shares of Everest Group during the 4th quarter worth about $29,000. SBI Securities Co. Ltd. bought a new stake in Everest Group during the fourth quarter worth approximately $31,000. Tsfg LLC acquired a new stake in Everest Group in the first quarter worth approximately $33,000. Optiver Holding B.V. acquired a new position in shares of Everest Group during the 4th quarter valued at $51,000. Finally, Bruce G. Allen Investments LLC raised its stake in shares of Everest Group by 79.1% in the 1st quarter. Bruce G. Allen Investments LLC now owns 154 shares of the company’s stock worth $56,000 after buying an additional 68 shares in the last quarter. 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.