Everest Group (NYSE:EG) Price Target Lowered to $380.00 at Wells Fargo & Company

Everest Group (NYSE:EG) had its target price reduced by investment analysts at Wells Fargo & Company from $390.00 to $380.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential upside of 7.25% from the stock’s current price.

Other research analysts have also recently issued research reports about the company. Bank of America cut their price objective on Everest Group from $496.00 to $485.00 and set a “buy” rating on the stock in a research report on Thursday, October 10th. Jefferies Financial Group lowered Everest Group from a “buy” rating to a “hold” rating and raised their price objective for the company from $420.00 to $429.00 in a research report on Tuesday, November 26th. Barclays lowered their target price on Everest Group from $517.00 to $499.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. TD Cowen decreased their price objective on Everest Group from $444.00 to $419.00 and set a “hold” rating on the stock in a research report on Monday, November 18th. Finally, Keefe, Bruyette & Woods increased their price objective on Everest Group from $420.00 to $434.00 and gave the stock an “outperform” rating in a research note on Friday. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $435.44.

Everest Group Stock Performance

EG stock traded up $2.61 during trading hours on Tuesday, hitting $354.30. 54,041 shares of the stock were exchanged, compared to its average volume of 323,625. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.22. Everest Group has a 12 month low of $343.76 and a 12 month high of $407.30. The firm has a market capitalization of $15.23 billion, a P/E ratio of 5.54, a P/E/G ratio of 2.69 and a beta of 0.65. The company has a 50-day simple moving average of $368.10 and a two-hundred day simple moving average of $376.99.

Insider Buying and Selling at Everest Group

In other Everest Group news, Director William F. Galtney, Jr. acquired 2,870 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was purchased at an average cost of $348.64 per share, with a total value of $1,000,596.80. Following the transaction, the director now owns 32,822 shares of the company’s stock, valued at $11,443,062.08. This trade represents a 9.58 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Mike Karmilowicz sold 269 shares of Everest Group stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $348.48, for a total value of $93,741.12. Following the completion of the transaction, the executive vice president now owns 12,726 shares of the company’s stock, valued at $4,434,756.48. The trade was a 2.07 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of EG. Wedmont Private Capital raised its holdings in Everest Group by 4.8% during the third quarter. Wedmont Private Capital now owns 638 shares of the company’s stock valued at $238,000 after buying an additional 29 shares in the last quarter. IFM Investors Pty Ltd grew its stake in shares of Everest Group by 0.3% during the third quarter. IFM Investors Pty Ltd now owns 11,208 shares of the company’s stock worth $4,392,000 after purchasing an additional 38 shares during the period. Covestor Ltd lifted its holdings in Everest Group by 9.0% during the third quarter. Covestor Ltd now owns 520 shares of the company’s stock worth $204,000 after acquiring an additional 43 shares in the last quarter. WealthTrust Asset Management LLC grew its position in Everest Group by 1.7% in the second quarter. WealthTrust Asset Management LLC now owns 2,770 shares of the company’s stock valued at $1,055,000 after purchasing an additional 45 shares in the last quarter. Finally, Private Trust Co. NA grew its position in shares of Everest Group by 51.7% in the 3rd quarter. Private Trust Co. NA now owns 132 shares of the company’s stock valued at $52,000 after acquiring an additional 45 shares during the period. Hedge funds and other institutional investors own 92.64% of the company’s stock.

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.