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

Everest Group (NYSE:EG) had its price target lowered by equities researchers at Wells Fargo & Company from $390.00 to $380.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 7.25% from the company’s current price.

Several other research analysts have also commented on 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. TD Cowen decreased their price target on Everest Group from $444.00 to $419.00 and set a “hold” rating for the company in a research note on Monday, November 18th. Barclays decreased their target price on Everest Group from $517.00 to $499.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. UBS Group raised Everest Group to a “hold” rating in a report on Wednesday, October 9th. Finally, Keefe, Bruyette & Woods lifted their price target on Everest Group from $420.00 to $434.00 and gave the company an “outperform” rating in a report on Friday. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $435.44.

Everest Group Price Performance

Shares of EG traded up $2.61 on Tuesday, reaching $354.30. The stock had a trading volume of 54,041 shares, compared to its average volume of 323,625. The firm has a 50-day moving average of $368.10 and a 200 day moving average of $376.99. The firm has a market capitalization of $15.23 billion, a PE ratio of 5.54, a PEG ratio of 2.69 and a beta of 0.65. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.22. Everest Group has a twelve month low of $343.76 and a twelve month high of $407.30.

Insider Buying and Selling at Everest Group

In other news, Director William F. Galtney, Jr. acquired 2,870 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was bought at an average cost of $348.64 per share, for a total transaction of $1,000,596.80. Following the acquisition, the director now directly owns 32,822 shares in the company, valued at approximately $11,443,062.08. The trade was a 9.58 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO James Allan Williamson sold 200 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $370.00, for a total transaction of $74,000.00. Following the sale, the chief operating officer now owns 15,009 shares of the company’s stock, valued at approximately $5,553,330. This represents a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. M&R Capital Management Inc. purchased a new stake in shares of Everest Group in the 3rd quarter valued at approximately $29,000. Bruce G. Allen Investments LLC lifted its stake in shares of Everest Group by 200.0% in the third quarter. Bruce G. Allen Investments LLC now owns 78 shares of the company’s stock valued at $31,000 after purchasing an additional 52 shares during the period. Eastern Bank acquired a new position in shares of Everest Group in the third quarter valued at approximately $35,000. Brooklyn Investment Group purchased a new stake in Everest Group during the third quarter worth approximately $39,000. Finally, American National Bank & Trust raised its holdings in Everest Group by 80.0% in the third quarter. American National Bank & Trust now owns 126 shares of the company’s stock valued at $49,000 after acquiring an additional 56 shares in the last quarter. 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.