Wells Fargo & Company Issues Pessimistic Forecast for Everest Group (NYSE:EG) Stock Price

Everest Group (NYSE:EG - Get Free Report) had its target price lowered by stock analysts at Wells Fargo & Company from $362.00 to $361.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Wells Fargo & Company's price objective would indicate a potential upside of 4.02% from the company's current price.

EG has been the topic of several other research reports. Keefe, Bruyette & Woods dropped their target price on Everest Group from $434.00 to $402.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Barclays lowered their price objective on shares of Everest Group from $470.00 to $394.00 and set an "overweight" rating on the stock in a research note on Friday, April 11th. Evercore ISI cut their price objective on Everest Group from $400.00 to $396.00 and set an "in-line" rating for the company in a research report on Thursday, May 1st. UBS Group reduced their price objective on shares of Everest Group from $375.00 to $372.00 and set a "neutral" rating for the company in a research report on Wednesday, April 9th. Finally, Jefferies Financial Group upgraded shares of Everest Group from a "hold" rating to a "buy" rating and raised their price objective for the stock from $376.00 to $415.00 in a research report on Friday, April 11th. 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 MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $395.90.

Everest Group Stock Down 0.1 %

Shares of NYSE:EG opened at $347.03 on Tuesday. The company has a market capitalization of $16.58 billion, a PE ratio of 11.06, a P/E/G ratio of 0.24 and a beta of 0.58. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.40 and a current ratio of 0.40. Everest Group has a 52 week low of $320.00 and a 52 week high of $407.30. The company's fifty day moving average is $353.40 and its 200-day moving average is $358.95.

Everest Group (NYSE:EG - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $6.45 EPS for the quarter, missing analysts' consensus estimates of $7.46 by ($1.01). The firm had revenue of $4.26 billion during the quarter, compared to analyst estimates of $3.89 billion. Everest Group had a return on equity of 9.04% and a net margin of 7.95%. Everest Group's revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $16.32 earnings per share. Equities research analysts predict that Everest Group will post 47.93 earnings per share for the current fiscal year.

Insider Buying and Selling at Everest Group

In other Everest Group news, Director Geraldine Losquadro sold 1,500 shares of the company's stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $360.63, for a total transaction of $540,945.00. Following the transaction, the director now owns 12,279 shares in the company, valued at approximately $4,428,175.77. This represents a 10.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.10% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Norges Bank purchased a new stake in Everest Group in the fourth quarter worth $488,588,000. Vulcan Value Partners LLC boosted its stake in Everest Group by 279.1% in the fourth quarter. Vulcan Value Partners LLC now owns 978,713 shares of the company's stock worth $354,768,000 after buying an additional 720,572 shares in the last quarter. Sterling Capital Management LLC increased its holdings in shares of Everest Group by 11,756.0% in the fourth quarter. Sterling Capital Management LLC now owns 278,616 shares of the company's stock worth $100,987,000 after buying an additional 276,266 shares during the period. Balyasny Asset Management L.P. lifted its stake in Everest Group by 14,518.5% in the fourth quarter. Balyasny Asset Management L.P. now owns 190,040 shares of the company's stock worth $68,882,000 after acquiring an additional 188,740 shares during the period. Finally, GAMMA Investing LLC increased its position in Everest Group by 31,899.6% during the 1st quarter. GAMMA Investing LLC now owns 174,398 shares of the company's stock valued at $63,364,000 after buying an additional 173,853 shares in the last quarter. 92.64% of the stock is owned by institutional investors.

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.

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