Everest Group (NYSE:EG) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Everest Group (NYSE:EG - Get Free Report) had its price target lifted by Wells Fargo & Company from $361.00 to $362.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Wells Fargo & Company's price target suggests a potential upside of 6.37% from the company's previous close.

Several other equities research analysts have also recently weighed in on the stock. Keefe, Bruyette & Woods increased their price objective on shares of Everest Group from $402.00 to $405.00 and gave the stock an "outperform" rating in a research report on Wednesday. Morgan Stanley upped their price target on Everest Group from $330.00 to $350.00 and gave the stock an "equal weight" rating in a research note on Monday, May 19th. Evercore ISI reduced their price objective on Everest Group from $400.00 to $396.00 and set an "in-line" rating for the company in a research note on Thursday, May 1st. Jefferies Financial Group upgraded Everest Group from a "hold" rating to a "buy" rating and increased their target price for the stock from $376.00 to $415.00 in a report on Friday, April 11th. Finally, Barclays boosted their price target on shares of Everest Group from $394.00 to $398.00 and gave the company an "overweight" rating in a research note on Monday. Six investment 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, the stock currently has an average rating of "Moderate Buy" and an average target price of $400.83.

Everest Group Stock Performance

EG traded up $0.12 during trading on Thursday, hitting $340.31. The stock had a trading volume of 300,720 shares, compared to its average volume of 404,578. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.35 and a quick ratio of 0.35. The firm has a market cap of $14.47 billion, a price-to-earnings ratio of 17.51, a P/E/G ratio of 0.27 and a beta of 0.51. The company has a 50 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 posted its quarterly earnings results on Wednesday, April 30th. The company reported $6.45 EPS for the quarter, missing analysts' consensus estimates of $7.46 by ($1.01). Everest Group had a net margin of 4.88% and a return on equity of 5.95%. The company had revenue of $4.26 billion during the quarter, compared to analyst estimates of $3.89 billion. During the same period last year, the firm earned $16.32 EPS. The firm's revenue for the quarter was up 3.1% compared to the same quarter last year. As a group, research analysts predict that Everest Group will post 47.93 EPS for the current year.

Insider Buying and Selling

In other news, CEO James Allan Williamson acquired 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The stock was purchased at an average cost of $337.97 per share, for a total transaction of $337,970.00. Following the completion of the acquisition, the chief executive officer directly owned 25,618 shares of the company's stock, valued at $8,658,115.46. The trade was a 4.06% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in EG. Sunbelt Securities Inc. acquired a new position in shares of Everest Group in the fourth quarter worth about $29,000. SVB Wealth LLC purchased a new position in Everest Group during the first quarter worth approximately $30,000. SBI Securities Co. Ltd. acquired a new stake in Everest Group in the fourth quarter valued at approximately $31,000. Tsfg LLC acquired a new stake in Everest Group in the first quarter valued at approximately $33,000. Finally, Zions Bancorporation National Association UT purchased a new stake in shares of Everest Group in the first quarter valued at approximately $34,000. Hedge funds and other 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.