Wells Fargo & Company Cuts Everest Group (NYSE:EG) Price Target to $402.00

Everest Group (NYSE:EG) had its target price reduced by Wells Fargo & Company from $406.00 to $402.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

EG has been the topic of several other research reports. Morgan Stanley dropped their target price on shares of Everest Group from $450.00 to $445.00 and set an “overweight” rating on the stock in a report on Wednesday, July 10th. Jefferies Financial Group raised their price target on shares of Everest Group from $440.00 to $457.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. UBS Group upgraded shares of Everest Group to a “hold” rating in a research report on Wednesday, October 9th. Bank of America decreased their price target on shares of Everest Group from $496.00 to $485.00 and set a “buy” rating on the stock in a research report on Thursday, October 10th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Everest Group from $454.00 to $438.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Five research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $438.00.

Everest Group Stock Performance

EG traded up $7.18 during trading on Tuesday, hitting $369.23. The stock had a trading volume of 84,141 shares, compared to its average volume of 346,573. The firm has a market cap of $15.90 billion, a PE ratio of 5.66, a P/E/G ratio of 2.46 and a beta of 0.63. Everest Group has a 12 month low of $343.76 and a 12 month high of $417.92. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.22. The company has a 50 day simple moving average of $383.56 and a 200-day simple moving average of $380.46.

Insiders Place Their Bets

In related news, EVP Mike Karmilowicz sold 269 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $348.48, for a total transaction of $93,741.12. Following the completion of the sale, the executive vice president now directly owns 12,726 shares of the company’s stock, valued at $4,434,756.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, EVP Mike Karmilowicz sold 269 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $348.48, for a total transaction of $93,741.12. Following the completion of the transaction, the executive vice president now owns 12,726 shares in the company, valued at approximately $4,434,756.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William F. Galtney, Jr. acquired 2,870 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were purchased at an average price of $348.64 per share, with a total value of $1,000,596.80. Following the acquisition, the director now owns 32,822 shares of the company’s stock, valued at approximately $11,443,062.08. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Boston Partners boosted its holdings in shares of Everest Group by 29.1% in the first quarter. Boston Partners now owns 1,197,457 shares of the company’s stock valued at $475,750,000 after buying an additional 269,665 shares during the period. AQR Capital Management LLC boosted its holdings in Everest Group by 1.8% during the second quarter. AQR Capital Management LLC now owns 1,032,479 shares of the company’s stock worth $393,395,000 after purchasing an additional 17,885 shares during the last quarter. Champlain Investment Partners LLC boosted its holdings in Everest Group by 5.3% during the first quarter. Champlain Investment Partners LLC now owns 906,100 shares of the company’s stock worth $360,175,000 after purchasing an additional 45,705 shares during the last quarter. William Blair Investment Management LLC boosted its holdings in Everest Group by 30.2% during the second quarter. William Blair Investment Management LLC now owns 580,171 shares of the company’s stock worth $221,057,000 after purchasing an additional 134,517 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Everest Group by 7.7% during the second quarter. Dimensional Fund Advisors LP now owns 535,121 shares of the company’s stock worth $203,891,000 after purchasing an additional 38,254 shares during the last quarter. Institutional investors and hedge funds 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.