Everest Group (NYSE:EG) Price Target Cut to $380.00 by Analysts at Wells Fargo & Company

Everest Group (NYSE:EG - Free Report) had its target price reduced by Wells Fargo & Company from $390.00 to $380.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

EG has been the subject of a number of other reports. Bank of America decreased their price target on shares of Everest Group from $496.00 to $485.00 and set a "buy" rating for the company in a report on Thursday, October 10th. TD Cowen dropped their price target on Everest Group from $444.00 to $419.00 and set a "hold" rating on the stock in a research report on Monday, November 18th. Jefferies Financial Group cut Everest Group from a "buy" rating to a "hold" rating and increased their price objective for the company from $420.00 to $429.00 in a research report on Tuesday, November 26th. UBS Group raised shares of Everest Group to a "hold" rating in a research report on Wednesday, October 9th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Everest Group from $420.00 to $434.00 and gave the company an "outperform" rating in a report on Friday. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $435.44.

Everest Group Stock Up 1.9 %

Shares of EG stock traded up $6.67 on Tuesday, hitting $358.36. The company's stock had a trading volume of 316,820 shares, compared to its average volume of 358,365. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.40 and a quick ratio of 0.40. The stock has a market capitalization of $15.40 billion, a price-to-earnings ratio of 5.61, a P/E/G ratio of 2.69 and a beta of 0.65. Everest Group has a fifty-two week low of $343.76 and a fifty-two week high of $407.30. The firm's fifty day moving average price is $368.17 and its 200-day moving average price is $376.79.

Everest Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th were issued a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 2.23%. The ex-dividend date was Wednesday, November 27th. Everest Group's payout ratio is 12.52%.

Insider Activity at Everest Group

In related news, Director William F. Galtney, Jr. purchased 2,870 shares of the firm's stock in a transaction dated Monday, November 4th. The shares were acquired at an average cost of $348.64 per share, with a total value of $1,000,596.80. Following the completion of the purchase, the director now directly owns 32,822 shares of the company's stock, valued at $11,443,062.08. This trade represents a 9.58 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mike Karmilowicz sold 269 shares of the firm's stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $348.48, for a total transaction of $93,741.12. Following the completion of the sale, the executive vice president now directly owns 12,726 shares of the company's stock, valued at approximately $4,434,756.48. This represents a 2.07 % decrease in their position. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Everest Group

Several hedge funds have recently added to or reduced their stakes in the company. Acadian Asset Management LLC acquired a new stake in Everest Group during the 2nd quarter worth $601,000. American Century Companies Inc. grew its stake in shares of Everest Group by 19.3% during the second quarter. American Century Companies Inc. now owns 110,303 shares of the company's stock worth $42,028,000 after purchasing an additional 17,850 shares during the period. Federated Hermes Inc. lifted its stake in Everest Group by 4.7% in the second quarter. Federated Hermes Inc. now owns 11,523 shares of the company's stock valued at $4,391,000 after buying an additional 515 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Everest Group by 7.7% during the second quarter. Dimensional Fund Advisors LP now owns 535,121 shares of the company's stock worth $203,891,000 after buying an additional 38,254 shares during the last quarter. Finally, Mutual of America Capital Management LLC boosted its holdings in Everest Group by 7.0% during the second quarter. Mutual of America Capital Management LLC now owns 17,062 shares of the company's stock worth $6,501,000 after buying an additional 1,119 shares during 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.