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

Everest Group (NYSE:EG) had its price target decreased by Wells Fargo & Company from $390.00 to $380.00 in a report released on Tuesday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Other equities analysts also recently issued reports about the stock. UBS Group raised shares of Everest Group to a “hold” rating in a report on Wednesday, October 9th. Barclays decreased their price target on shares of Everest Group from $517.00 to $499.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. TD Cowen lowered their price objective on Everest Group from $444.00 to $419.00 and set a “hold” rating on the stock in a report on Monday, November 18th. Keefe, Bruyette & Woods increased their target price on Everest Group from $420.00 to $434.00 and gave the company an “outperform” rating in a report on Friday, January 10th. Finally, BMO Capital Markets raised Everest Group from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $372.00 to $453.00 in a research note on Friday, January 10th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Everest Group presently has a consensus rating of “Moderate Buy” and an average price target of $435.44.

Everest Group Trading Up 1.9 %

Shares of EG stock opened at $358.36 on Tuesday. The stock has a 50 day simple moving average of $368.17 and a 200-day simple moving average of $376.79. Everest Group has a 1-year low of $343.76 and a 1-year high of $407.30. The company has a market cap of $15.40 billion, a price-to-earnings ratio of 5.61, a PEG ratio of 2.69 and a beta of 0.65. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.40 and a quick ratio of 0.40.

Everest Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Wednesday, November 27th were given a dividend of $2.00 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $8.00 dividend on an annualized basis and a yield of 2.23%. Everest Group’s payout ratio is 12.52%.

Insiders Place Their Bets

In other news, EVP Mike Karmilowicz sold 269 shares of the stock in a transaction that occurred on 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 sale, the executive vice president now 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director William F. Galtney, Jr. purchased 2,870 shares of Everest Group stock in a transaction dated Monday, November 4th. The shares were purchased at an average cost of $348.64 per share, for a total transaction of $1,000,596.80. Following the transaction, the director now owns 32,822 shares in the company, valued at approximately $11,443,062.08. This trade represents a 9.58 % increase in their position. The disclosure for this purchase can be found here. 1.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Everest Group

Hedge funds have recently modified their holdings of the business. Geode Capital Management LLC raised its holdings in Everest Group by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,155,760 shares of the company’s stock valued at $453,818,000 after buying an additional 16,180 shares during the period. AQR Capital Management LLC boosted its stake 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 buying an additional 17,885 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Everest Group by 7.7% during the second quarter. Dimensional Fund Advisors LP now owns 535,121 shares of the company’s stock valued at $203,891,000 after acquiring an additional 38,254 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Everest Group by 6.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 490,691 shares of the company’s stock valued at $192,267,000 after acquiring an additional 30,458 shares during the period. Finally, Mizuho Securities USA LLC lifted its holdings 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 worth $162,766,000 after acquiring an additional 412,040 shares during the last quarter. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

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.