Wells Fargo & Company Analysts Give Everest Group (NYSE:EG) a $371.00 Price Target

Wells Fargo & Company set a $371.00 price objective on Everest Group (NYSE:EG) in a research note issued to investors on Monday morning, MarketBeat.com reports. The brokerage currently has an equal weight rating on the stock.

A number of other equities research analysts have also weighed in on the stock. UBS Group decreased their target price on shares of Everest Group from $372.00 to $370.00 and set a “neutral” rating for the company in a research note on Wednesday, July 9th. Morgan Stanley boosted their price target on Everest Group from $330.00 to $350.00 and gave the company an “equal weight” rating in a research note on Monday, May 19th. Barclays increased their price objective on shares of Everest Group from $394.00 to $398.00 and gave the stock an “overweight” rating in a research note on Monday, July 7th. Evercore ISI reduced their target price on shares of Everest Group from $400.00 to $396.00 and set an “in-line” rating for the company in a report on Thursday, May 1st. Finally, Janney Montgomery Scott initiated coverage on shares of Everest Group in a research report on Friday, June 20th. They set a “buy” rating and a $425.00 price objective for the company. Five investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $402.50.

Everest Group Trading Up 0.2%

Shares of NYSE:EG opened at $328.71 on Monday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.38 and a quick ratio of 0.35. Everest Group has a 1 year low of $320.00 and a 1 year high of $407.30. The company has a market cap of $13.79 billion, a P/E ratio of 17.45, a PEG ratio of 0.24 and a beta of 0.50. The stock’s fifty day moving average price is $337.24 and its 200-day moving average price is $345.25.

Everest Group (NYSE:EG) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $17.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $15.14 by $2.22. Everest Group had a net margin of 4.56% and a return on equity of 5.89%. The firm had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $4.22 billion. During the same quarter last year, the firm posted $16.85 EPS. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. Sell-side analysts expect that Everest Group will post 47.93 earnings per share for the current year.

Everest Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Wednesday, May 28th were paid a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 2.4%. The ex-dividend date was Wednesday, May 28th. Everest Group’s dividend payout ratio is presently 42.46%.

Insider Transactions at Everest Group

In related news, CEO James Allan Williamson bought 1,000 shares of the stock in a transaction dated Wednesday, June 11th. The shares were purchased at an average price of $337.97 per share, with a total value of $337,970.00. Following the completion of the acquisition, the chief executive officer owned 25,618 shares of the company’s stock, valued at $8,658,115.46. This represents a 4.06% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is currently owned by company insiders.

Institutional Trading of Everest Group

A number of institutional investors and hedge funds have recently bought and sold shares of EG. Sunbelt Securities Inc. purchased a new position in shares of Everest Group during the fourth quarter valued at about $29,000. SVB Wealth LLC bought a new position in Everest Group during the first quarter valued at approximately $30,000. Tsfg LLC purchased a new position in Everest Group during the 1st quarter valued at approximately $33,000. Zions Bancorporation National Association UT purchased a new position in Everest Group during the 1st quarter valued at approximately $34,000. Finally, Board of the Pension Protection Fund bought a new stake in Everest Group in the 2nd quarter worth approximately $34,000. 92.64% of the stock is currently owned by institutional investors.

About Everest Group

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.