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

Everest Group (NYSE:EG) had its price target decreased by Wells Fargo & Company from $402.00 to $390.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential upside of 2.97% from the stock’s previous close.

EG has been the topic of a number of other reports. Bank of America dropped 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. Jefferies Financial Group lowered shares of Everest Group from a “buy” rating to a “hold” rating and raised their price target for the company from $420.00 to $429.00 in a research report on Tuesday, November 26th. Barclays dropped their price target on shares of Everest Group from $527.00 to $517.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Keefe, Bruyette & Woods decreased their price objective on shares of Everest Group from $454.00 to $438.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, UBS Group upgraded shares of Everest Group to a “hold” rating in a report on Wednesday, October 9th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Everest Group presently has a consensus rating of “Hold” and a consensus price target of $430.10.

Everest Group Stock Down 1.7 %

EG opened at $378.74 on Wednesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.40 and a quick ratio of 0.40. The company’s 50-day moving average is $380.71 and its 200 day moving average is $381.01. Everest Group has a fifty-two week low of $343.76 and a fifty-two week high of $407.30. The firm has a market capitalization of $16.28 billion, a P/E ratio of 5.93, a PEG ratio of 2.85 and a beta of 0.64.

Insider Transactions at Everest Group

In other news, COO James Allan Williamson sold 200 shares of Everest Group stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $370.00, for a total value of $74,000.00. Following the completion of the transaction, the chief operating officer now owns 15,009 shares in the company, valued at $5,553,330. This trade represents a 1.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mike Karmilowicz sold 269 shares of Everest Group stock in a transaction dated Monday, November 4th. The stock was 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 of the company’s stock, valued at $4,434,756.48. The trade was a 2.07 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Everest Group

Several hedge funds have recently bought and sold shares of the company. Synovus Financial Corp lifted its position in Everest Group by 116.4% during the third quarter. Synovus Financial Corp now owns 4,561 shares of the company’s stock valued at $1,787,000 after purchasing an additional 2,453 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Everest Group during the third quarter valued at approximately $64,000. World Investment Advisors LLC bought a new stake in Everest Group during the third quarter valued at approximately $350,000. Sanctuary Advisors LLC lifted its position in Everest Group by 7.0% during the third quarter. Sanctuary Advisors LLC now owns 1,366 shares of the company’s stock valued at $531,000 after purchasing an additional 89 shares during the last quarter. Finally, Pine Valley Investments Ltd Liability Co bought a new stake in Everest Group during the third quarter valued at approximately $2,551,000. 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.