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

Everest Group (NYSE:EG) had its price target lowered by analysts at Wells Fargo & Company from $406.00 to $402.00 in a report issued on Tuesday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 14.44% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on the company. TD Cowen dropped their price objective on Everest Group from $419.00 to $405.00 and set a “hold” rating for the company in a research note on Tuesday, August 13th. UBS Group upgraded shares of Everest Group to a “hold” rating in a report on Wednesday, October 9th. Jefferies Financial Group raised their price target on shares of Everest Group from $440.00 to $457.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. BMO Capital Markets reaffirmed a “market perform” rating and set a $403.00 price objective on shares of Everest Group in a research report on Friday, August 30th. Finally, Keefe, Bruyette & Woods decreased their target price on Everest Group from $454.00 to $438.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Five research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Everest Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $438.00.

Everest Group Trading Up 1.0 %

Everest Group stock traded up $3.54 during trading on Tuesday, hitting $351.29. The company had a trading volume of 48,215 shares, compared to its average volume of 344,857. The stock has a market cap of $15.13 billion, a price-to-earnings ratio of 5.50, a price-to-earnings-growth ratio of 2.45 and a beta of 0.63. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.22. Everest Group has a 1-year low of $343.76 and a 1-year high of $417.92. The company’s 50 day simple moving average is $385.26 and its 200-day simple moving average is $380.80.

Institutional Trading of Everest Group

A number of hedge funds and other institutional investors have recently made changes to their positions in EG. American National Bank acquired a new stake in shares of Everest Group in the second quarter valued at approximately $27,000. M&R Capital Management Inc. purchased a new stake in Everest Group in the 3rd quarter valued at $29,000. Bruce G. Allen Investments LLC boosted its stake in Everest Group by 200.0% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 78 shares of the company’s stock worth $31,000 after purchasing an additional 52 shares during the period. Eastern Bank purchased a new position in Everest Group during the 3rd quarter worth $35,000. Finally, Massmutual Trust Co. FSB ADV increased its stake in Everest Group by 36.9% in the second quarter. Massmutual Trust Co. FSB ADV now owns 115 shares of the company’s stock valued at $44,000 after purchasing an additional 31 shares during the period. Institutional investors and hedge funds own 92.64% of the company’s stock.

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.