Everest Group (NYSE:EG) Price Target Raised to $362.00 at Wells Fargo & Company

Everest Group (NYSE:EG - Get Free Report) had its target price boosted by research analysts at Wells Fargo & Company from $361.00 to $362.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Wells Fargo & Company's price objective would suggest a potential upside of 6.73% from the stock's previous close.

Several other brokerages also recently issued reports on EG. Morgan Stanley upped their price target on shares of Everest Group from $330.00 to $350.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Janney Montgomery Scott began coverage on shares of Everest Group in a research report on Friday, June 20th. They set a "buy" rating and a $425.00 price target on the stock. UBS Group reduced their price target on shares of Everest Group from $372.00 to $370.00 and set a "neutral" rating on the stock in a research report on Wednesday. Barclays upped their target price on shares of Everest Group from $394.00 to $398.00 and gave the company an "overweight" rating in a research report on Monday. Finally, Raymond James Financial restated a "strong-buy" rating and set a $410.00 target price (down from $420.00) on shares of Everest Group in a research report on Tuesday, May 6th. Six research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $400.83.

Everest Group Stock Performance

Everest Group stock traded down $1.27 on Thursday, hitting $339.18. The company's stock had a trading volume of 294,056 shares, compared to its average volume of 404,138. The firm has a market cap of $14.43 billion, a P/E ratio of 17.45, a price-to-earnings-growth ratio of 0.27 and a beta of 0.51. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.25. The company has a fifty day moving average price of $341.27 and a 200-day moving average price of $349.01. Everest Group has a one year low of $320.00 and a one year high of $407.30.

Everest Group (NYSE:EG - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $6.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.46 by ($1.01). Everest Group had a net margin of 4.88% and a return on equity of 5.95%. The business had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same period last year, the firm earned $16.32 EPS. The company's quarterly revenue was up 3.1% compared to the same quarter last year. On average, equities analysts anticipate that Everest Group will post 47.93 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO James Allan Williamson acquired 1,000 shares of the stock in a transaction dated Wednesday, June 11th. The stock was bought at an average price of $337.97 per share, with a total value of $337,970.00. Following the completion of the transaction, the chief executive officer directly owned 25,618 shares of the company's stock, valued at approximately $8,658,115.46. The trade was a 4.06% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.10% of the company's stock.

Institutional Investors Weigh In On Everest Group

Large investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC grew its position in Everest Group by 4.3% in the second quarter. Farther Finance Advisors LLC now owns 816 shares of the company's stock valued at $277,000 after purchasing an additional 34 shares in the last quarter. Wedge Capital Management L L P NC grew its position in Everest Group by 3.7% in the second quarter. Wedge Capital Management L L P NC now owns 10,234 shares of the company's stock valued at $3,478,000 after purchasing an additional 363 shares in the last quarter. Perpetual Ltd grew its position in Everest Group by 5.3% in the second quarter. Perpetual Ltd now owns 109,873 shares of the company's stock valued at $37,340,000 after purchasing an additional 5,507 shares in the last quarter. IFM Investors Pty Ltd grew its position in Everest Group by 3.2% in the second quarter. IFM Investors Pty Ltd now owns 11,290 shares of the company's stock valued at $3,837,000 after purchasing an additional 355 shares in the last quarter. Finally, Exchange Traded Concepts LLC grew its position in Everest Group by 25.3% in the second quarter. Exchange Traded Concepts LLC now owns 3,647 shares of the company's stock valued at $1,239,000 after purchasing an additional 737 shares in the last quarter. Institutional investors 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.