Everest Group (NYSE:EG) Given New $343.00 Price Target at Wells Fargo & Company

Everest Group (NYSE:EG) had its price objective trimmed by Wells Fargo & Company from $383.00 to $343.00 in a research note published on Wednesday,Benzinga reports. The firm currently has an equal weight rating on the stock.

EG has been the subject of a number of other research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Everest Group in a report on Wednesday, October 8th. Barclays dropped their price objective on Everest Group from $430.00 to $425.00 and set an “overweight” rating for the company in a report on Tuesday. Cowen reissued a “hold” rating on shares of Everest Group in a research note on Tuesday, October 7th. UBS Group decreased their target price on Everest Group from $372.00 to $370.00 and set a “neutral” rating for the company in a research note on Wednesday, July 9th. Finally, Keefe, Bruyette & Woods boosted their target price on Everest Group from $405.00 to $416.00 and gave the company an “outperform” rating in a research note on Wednesday, August 6th. Five analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $379.57.

Everest Group Trading Up 1.4%

NYSE EG opened at $309.21 on Wednesday. The stock has a 50-day simple moving average of $344.40 and a 200 day simple moving average of $341.79. The company has a market capitalization of $12.97 billion, a PE ratio of 23.55, a P/E/G ratio of 0.21 and a beta of 0.48. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.24. Everest Group has a 12 month low of $302.44 and a 12 month high of $392.78.

Everest Group (NYSE:EG) last released its quarterly earnings data on Monday, October 27th. The company reported $7.54 EPS for the quarter, missing analysts’ consensus estimates of $13.39 by ($5.85). The company had revenue of $4.32 billion during the quarter, compared to the consensus estimate of $3.86 billion. Everest Group had a net margin of 3.12% and a return on equity of 3.81%. The company’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $11.80 EPS. Research analysts forecast that Everest Group will post 47.93 EPS for the current year.

Everest Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Wednesday, September 3rd were given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Wednesday, September 3rd. Everest Group’s dividend payout ratio is currently 60.93%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of EG. SVB Wealth LLC acquired a new position in shares of Everest Group during the first quarter worth about $30,000. Root Financial Partners LLC acquired a new position in shares of Everest Group during the third quarter worth about $30,000. Zions Bancorporation National Association UT acquired a new position in shares of Everest Group during the first quarter worth about $34,000. Board of the Pension Protection Fund acquired a new position in shares of Everest Group during the second quarter worth about $34,000. Finally, WPG Advisers LLC acquired a new position in shares of Everest Group during the first quarter worth about $37,000. 92.64% of the stock is owned by institutional investors and hedge funds.

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.