Everest Group (NYSE:EG) Lowered to “Equal Weight” at Wells Fargo & Company

Wells Fargo & Company lowered shares of Everest Group (NYSE:EGFree Report) from an overweight rating to an equal weight rating in a research report sent to investors on Friday morning, Marketbeat Ratings reports. They currently have $402.00 price target on the stock, down from their prior price target of $484.00.

Several other research firms have also recently commented on EG. TD Cowen began coverage on shares of Everest Group in a research note on Wednesday, January 10th. They set a market perform rating and a $421.00 target price for the company. Evercore ISI began coverage on shares of Everest Group in a research note on Thursday, December 14th. They set an inline rating and a $431.00 target price for the company. Raymond James upped their target price on shares of Everest Group from $455.00 to $460.00 and gave the company a strong-buy rating in a research note on Monday, November 20th. Keefe, Bruyette & Woods increased their price objective on shares of Everest Group from $450.00 to $460.00 and gave the company an outperform rating in a research note on Wednesday, November 15th. Finally, Morgan Stanley increased their price objective on shares of Everest Group from $450.00 to $480.00 and gave the company an overweight rating in a research note on Wednesday, November 15th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Everest Group presently has a consensus rating of Moderate Buy and a consensus target price of $444.33.

View Our Latest Analysis on EG

Everest Group Price Performance

NYSE EG opened at $354.56 on Friday. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.27. The company has a fifty day simple moving average of $372.37 and a 200 day simple moving average of $376.80. The company has a market cap of $15.38 billion, a P/E ratio of 5.94, a P/E/G ratio of 0.21 and a beta of 0.57. Everest Group has a 1 year low of $331.08 and a 1 year high of $417.92.

Everest Group (NYSE:EGGet Free Report) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $25.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $14.63 by $10.55. The business had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.85 billion. Everest Group had a net margin of 17.26% and a return on equity of 26.75%. Everest Group’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $12.21 EPS. On average, sell-side analysts predict that Everest Group will post 61.66 EPS for the current year.

Institutional Investors Weigh In On Everest Group

Several large investors have recently made changes to their positions in the company. Allworth Financial LP bought a new stake in Everest Group during the 4th quarter worth about $25,000. Avior Wealth Management LLC bought a new position in shares of Everest Group in the 4th quarter valued at about $25,000. Headlands Technologies LLC bought a new position in shares of Everest Group in the 4th quarter valued at about $25,000. Janiczek Wealth Management LLC bought a new position in shares of Everest Group in the 4th quarter valued at about $27,000. Finally, Trifecta Capital Advisors LLC acquired a new stake in shares of Everest Group in the 4th quarter valued at approximately $28,000. Institutional investors own 90.45% of the company’s stock.

Everest Group Company Profile

(Get Free Report)

Everest Group, Ltd., through its subsidiaries, provides reinsurance and insurance products in the United States, Bermuda, and internationally. The company operates through Reinsurance Operations and Insurance Operations segments. The Reinsurance Operations 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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