Wells Fargo & Company Cuts 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 research report released on Wednesday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

EG has been the subject of several other research reports. Barclays dropped their price target on Everest Group from $527.00 to $517.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. BMO Capital Markets decreased their price target on shares of Everest Group from $383.00 to $372.00 and set a “market perform” rating on the stock in a research note on Thursday, November 14th. UBS Group raised shares of Everest Group to a “hold” rating in a research note on Wednesday, October 9th. Jefferies Financial Group lowered Everest Group from a “buy” rating to a “hold” rating and raised their price target for the stock from $420.00 to $429.00 in a research report on Tuesday, November 26th. Finally, Keefe, Bruyette & Woods lowered their price target 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. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Everest Group has a consensus rating of “Hold” and an average target price of $430.10.

Everest Group Trading Down 0.9 %

Shares of EG stock opened at $371.40 on Wednesday. The company has a market capitalization of $15.96 billion, a PE ratio of 5.81, a price-to-earnings-growth ratio of 2.85 and a beta of 0.64. Everest Group has a 52-week low of $343.76 and a 52-week high of $407.30. The business’s fifty day moving average is $379.97 and its 200 day moving average is $380.84. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.40 and a current ratio of 0.40.

Everest Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend is Wednesday, November 27th. Everest Group’s dividend payout ratio is currently 12.52%.

Insiders Place Their Bets

In other news, COO James Allan Williamson sold 200 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $370.00, for a total transaction of $74,000.00. Following the sale, the chief operating officer now directly owns 15,009 shares of the company’s stock, valued at $5,553,330. This represents a 1.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William F. Galtney, Jr. purchased 2,870 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were acquired at an average cost of $348.64 per share, for a total transaction of $1,000,596.80. Following the purchase, the director now owns 32,822 shares of the company’s stock, valued at $11,443,062.08. This represents a 9.58 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of EG. Geode Capital Management LLC lifted its position in shares of Everest Group by 1.4% during the third quarter. Geode Capital Management LLC now owns 1,155,760 shares of the company’s stock worth $453,818,000 after purchasing an additional 16,180 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Everest Group by 1.8% during the 2nd quarter. AQR Capital Management LLC now owns 1,032,479 shares of the company’s stock valued at $393,395,000 after buying an additional 17,885 shares in the last quarter. William Blair Investment Management LLC boosted its position in Everest Group by 30.2% in the 2nd quarter. William Blair Investment Management LLC now owns 580,171 shares of the company’s stock valued at $221,057,000 after buying an additional 134,517 shares during the period. Dimensional Fund Advisors LP grew its stake in Everest Group by 7.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 535,121 shares of the company’s stock worth $203,891,000 after acquiring an additional 38,254 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Everest Group by 6.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 490,691 shares of the company’s stock worth $192,267,000 after acquiring an additional 30,458 shares during the period. 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.