Everest Group, Ltd. (NYSE:EG) Receives Average Rating of “Hold” from Brokerages

Shares of Everest Group, Ltd. (NYSE:EG) have received a consensus rating of “Hold” from the ten ratings firms that are currently covering the stock, Marketbeat reports. Six equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $430.00.

Several analysts have commented on the stock. TD Cowen lowered their price objective on shares of Everest Group from $444.00 to $419.00 and set a “hold” rating for the company in a report on Monday, November 18th. Bank of America lowered their target price on Everest Group from $496.00 to $485.00 and set a “buy” rating for the company in a research note on Thursday, October 10th. UBS Group raised Everest Group to a “hold” rating in a research note on Wednesday, October 9th. Jefferies Financial Group lowered Everest Group from a “buy” rating to a “hold” rating and raised their price objective for the company from $420.00 to $429.00 in a research report on Tuesday, November 26th. Finally, Wells Fargo & Company reduced their target price on shares of Everest Group from $402.00 to $390.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 4th.

Insider Buying and Selling

In related news, COO James Allan Williamson sold 200 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $370.00, for a total transaction of $74,000.00. Following the sale, the chief operating officer now directly owns 15,009 shares of the company’s stock, valued at $5,553,330. This trade represents a 1.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director William F. Galtney, Jr. acquired 2,870 shares of Everest Group stock in a transaction that occurred on Monday, November 4th. The stock was acquired at an average price of $348.64 per share, with a total value of $1,000,596.80. Following the completion of the acquisition, the director now directly owns 32,822 shares in the company, valued at $11,443,062.08. This represents a 9.58 % increase in their position. The disclosure for this purchase can be found here. 1.20% of the stock is currently owned by company insiders.

Institutional Trading of Everest Group

A number of institutional investors have recently made changes to their positions in EG. American National Bank bought a new position in Everest Group during the second quarter valued at approximately $27,000. M&R Capital Management Inc. bought a new position in shares of Everest Group during the 3rd quarter valued at $29,000. Bruce G. Allen Investments LLC boosted its stake in shares of Everest Group by 200.0% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 78 shares of the company’s stock worth $31,000 after buying an additional 52 shares during the last quarter. Eastern Bank bought a new stake in shares of Everest Group in the third quarter worth $35,000. Finally, Brooklyn Investment Group purchased a new stake in Everest Group during the third quarter valued at $39,000. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Everest Group Trading Down 1.9 %

NYSE:EG opened at $348.33 on Thursday. Everest Group has a 12 month low of $343.76 and a 12 month high of $407.30. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.22. The company has a 50-day moving average price of $375.96 and a 200-day moving average price of $379.27. The stock has a market cap of $14.97 billion, a price-to-earnings ratio of 5.45, a P/E/G ratio of 2.69 and a beta of 0.64.

Everest Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th were issued a dividend of $2.00 per share. The ex-dividend date was Wednesday, November 27th. This represents a $8.00 annualized dividend and a dividend yield of 2.30%. Everest Group’s payout ratio is presently 12.52%.

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.