Everest Group (NYSE:EG) Price Target Increased to $406.00 by Analysts at Wells Fargo & Company

Everest Group (NYSE:EG) had its price objective upped by Wells Fargo & Company from $393.00 to $406.00 in a research report released on Thursday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

A number of other research firms also recently issued reports on EG. Jefferies Financial Group raised their price target on Everest Group from $440.00 to $457.00 and gave the stock a buy rating in a research note on Wednesday. TD Cowen lowered their target price on shares of Everest Group from $419.00 to $405.00 and set a hold rating on the stock in a research report on Tuesday, August 13th. Morgan Stanley reduced their price target on shares of Everest Group from $450.00 to $445.00 and set an overweight rating for the company in a research report on Wednesday, July 10th. Barclays started coverage on shares of Everest Group in a research report on Wednesday, September 4th. They set an overweight rating and a $527.00 price objective on the stock. Finally, Keefe, Bruyette & Woods reduced their target price 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. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $439.27.

Everest Group Stock Up 1.1 %

Shares of EG traded up $4.41 during midday trading on Thursday, hitting $398.27. The company had a trading volume of 40,821 shares, compared to its average volume of 338,599. Everest Group has a 1 year low of $343.76 and a 1 year high of $417.92. The company’s 50-day simple moving average is $382.30 and its 200-day simple moving average is $380.67. The firm has a market capitalization of $17.15 billion, a P/E ratio of 5.82, a P/E/G ratio of 2.70 and a beta of 0.61. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.38 and a current ratio of 0.38.

Everest Group (NYSE:EG) last released its quarterly earnings data on Wednesday, July 31st. The company reported $16.85 earnings per share for the quarter, missing analysts’ consensus estimates of $16.97 by ($0.12). The company had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.32 billion. Everest Group had a return on equity of 24.09% and a net margin of 18.36%. The firm’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same period in the previous year, the business posted $15.21 EPS. As a group, sell-side analysts expect that Everest Group will post 61.78 EPS for the current year.

Everest Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Monday, September 16th were paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date was Monday, September 16th. Everest Group’s dividend payout ratio (DPR) is 11.81%.

Institutional Trading of Everest Group

A number of institutional investors have recently modified their holdings of EG. SG Americas Securities LLC increased its holdings in Everest Group by 284.8% in the third quarter. SG Americas Securities LLC now owns 24,556 shares of the company’s stock valued at $9,622,000 after buying an additional 18,175 shares in the last quarter. Perpetual Ltd increased its stake in Everest Group by 92.0% in the 1st quarter. Perpetual Ltd now owns 4,724 shares of the company’s stock valued at $1,878,000 after purchasing an additional 2,264 shares in the last quarter. Diversified Trust Co acquired a new position in Everest Group during the first quarter worth $1,621,000. Gilman Hill Asset Management LLC purchased a new stake in Everest Group during the first quarter worth $2,600,000. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in Everest Group by 163.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,772 shares of the company’s stock valued at $1,897,000 after purchasing an additional 2,964 shares during the last quarter. 92.64% of the stock is currently owned by hedge funds and other 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.