Everest Group (NYSE:EG) Price Target Lowered to $390.00 at Wells Fargo & Company

Everest Group (NYSE:EG) had its target price decreased by equities research analysts at Wells Fargo & Company from $402.00 to $390.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 4.09% from the company’s previous close.

EG has been the subject of several other research reports. Bank of America cut their price objective on Everest Group from $496.00 to $485.00 and set a “buy” rating for the company in a research report on Thursday, October 10th. BMO Capital Markets decreased their price objective on shares of Everest Group from $383.00 to $372.00 and set a “market perform” rating on the stock in a report on Thursday, November 14th. Jefferies Financial Group downgraded shares of Everest Group from a “buy” rating to a “hold” rating and boosted their target price for the stock from $420.00 to $429.00 in a research note on Tuesday, November 26th. 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 note on Thursday, August 8th. Finally, TD Cowen dropped their price objective on shares of Everest Group from $444.00 to $419.00 and set a “hold” rating for the company in a research report on Monday, November 18th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Everest Group presently has a consensus rating of “Hold” and a consensus price target of $430.10.

Everest Group Stock Performance

NYSE:EG opened at $374.66 on Wednesday. The stock has a market capitalization of $16.10 billion, a P/E ratio of 5.86, a price-to-earnings-growth ratio of 2.85 and a beta of 0.64. 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 1 year low of $343.76 and a 1 year high of $407.30. The firm has a 50 day moving average of $380.44 and a 200-day moving average of $380.97.

Insider Transactions at Everest Group

In other news, EVP Mike Karmilowicz sold 269 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $348.48, for a total value 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. This represents a 2.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO James Allan Williamson sold 200 shares of Everest Group stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $370.00, for a total transaction of $74,000.00. Following the transaction, the chief operating officer now directly owns 15,009 shares in the company, valued at $5,553,330. The trade was a 1.32 % decrease in their position. The disclosure for this sale can be found here. 1.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Everest Group

Hedge funds have recently bought and sold shares of the company. Mizuho Securities USA LLC increased its position in shares of Everest Group by 12,263.1% in the 3rd quarter. Mizuho Securities USA LLC now owns 415,400 shares of the company’s stock valued at $162,766,000 after buying an additional 412,040 shares in the last quarter. World Investment Advisors LLC acquired a new position in Everest Group in the third quarter valued at about $120,564,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Everest Group by 442.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 308,155 shares of the company’s stock worth $120,744,000 after acquiring an additional 251,337 shares in the last quarter. William Blair Investment Management LLC raised its position in shares of 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 period. Finally, Assetmark Inc. lifted its holdings in shares of Everest Group by 39.7% during the 3rd quarter. Assetmark Inc. now owns 409,989 shares of the company’s stock valued at $160,646,000 after purchasing an additional 116,559 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.