Everest Group (NYSE:EG) Given New $393.00 Price Target at Wells Fargo & Company

Everest Group (NYSE:EG) had its price target increased by Wells Fargo & Company from $392.00 to $393.00 in a research report released on Monday morning, Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other research firms have also issued reports on EG. BMO Capital Markets upped their price objective on Everest Group from $387.00 to $403.00 and gave the company a market perform rating in a research note on Wednesday, August 7th. Morgan Stanley lowered their price objective on Everest Group from $450.00 to $445.00 and set an overweight rating on the stock in a research report on Wednesday, July 10th. Bank of America upped their price target on shares of Everest Group from $470.00 to $493.00 and gave the company a buy rating in a research note on Thursday, July 11th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Everest Group from $454.00 to $438.00 and set an outperform rating on the stock in a research report on Thursday, August 8th. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $431.00.

Everest Group Price Performance

Shares of EG opened at $373.44 on Monday. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.24. The company’s fifty day simple moving average is $376.63 and its 200 day simple moving average is $377.26. Everest Group has a 1-year low of $343.36 and a 1-year high of $417.92. The company has a market cap of $16.16 billion, a price-to-earnings ratio of 5.55, a PEG ratio of 2.20 and a beta of 0.63.

Everest Group (NYSE:EG) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $16.85 EPS for the quarter, missing analysts’ consensus estimates of $16.97 by ($0.12). The firm had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.32 billion. Everest Group had a net margin of 18.36% and a return on equity of 24.09%. The business’s revenue was up 15.8% on a year-over-year basis. During the same period last year, the business earned $15.21 EPS. On average, research analysts forecast that Everest Group will post 61.6 earnings per share for the current fiscal year.

Everest Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Monday, September 16th will be given a dividend of $2.00 per share. The ex-dividend date is Monday, September 16th. This represents a $8.00 annualized dividend and a dividend yield of 2.14%. Everest Group’s dividend payout ratio is 11.89%.

Hedge Funds Weigh In On Everest Group

Several hedge funds and other institutional investors have recently modified their holdings of the business. Allworth Financial LP acquired a new stake in Everest Group in the fourth quarter valued at about $25,000. Avior Wealth Management LLC bought a new position in shares of Everest Group in the fourth quarter worth about $25,000. Headlands Technologies LLC acquired a new stake in shares of Everest Group in the 4th quarter valued at approximately $25,000. American National Bank bought a new stake in shares of Everest Group during the 2nd quarter valued at approximately $27,000. Finally, Heritage Wealth Advisors acquired a new position in Everest Group during the 4th quarter worth approximately $30,000. Institutional investors own 92.64% of the company’s stock.

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.