Everest Group (NYSE:EG) Price Target Lowered to $419.00 at TD Cowen

Everest Group (NYSE:EG) had its target price decreased by TD Cowen from $444.00 to $419.00 in a research report report published on Monday,Benzinga reports. TD Cowen currently has a hold rating on the stock.

A number of other research firms have also recently issued reports on EG. Keefe, Bruyette & Woods cut their target price on Everest Group from $454.00 to $438.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. BMO Capital Markets cut their price objective on shares of Everest Group from $383.00 to $372.00 and set a “market perform” rating on the stock in a research report on Thursday, November 14th. Jefferies Financial Group upped their target price on shares of Everest Group from $440.00 to $457.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. UBS Group raised Everest Group to a “hold” rating in a report on Wednesday, October 9th. Finally, Bank of America decreased their price objective on Everest Group from $496.00 to $485.00 and set a “buy” rating for the company in a report on Thursday, October 10th. Five investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $436.45.

Everest Group Stock Up 0.5 %

Shares of Everest Group stock opened at $373.33 on Monday. The stock has a market capitalization of $16.05 billion, a price-to-earnings ratio of 5.84, a PEG ratio of 2.66 and a beta of 0.63. Everest Group has a twelve month low of $343.76 and a twelve month high of $417.92. 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 business’s 50 day simple moving average is $380.72 and its 200-day simple moving average is $380.70.

Everest Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend is Wednesday, November 27th. Everest Group’s dividend payout ratio is presently 12.52%.

Insider Buying and Selling

In related news, Director William F. Galtney, Jr. purchased 2,870 shares of Everest Group stock in a transaction dated Monday, November 4th. The stock was acquired at an average cost of $348.64 per share, with a total value of $1,000,596.80. Following the completion of the transaction, the director now directly owns 32,822 shares of the company’s stock, valued at $11,443,062.08. This trade represents a 9.58 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mike Karmilowicz sold 269 shares of Everest Group stock in a transaction on Monday, November 4th. The shares were sold at an average price of $348.48, for a total transaction of $93,741.12. Following the sale, the executive vice president now directly owns 12,726 shares of the company’s stock, valued at $4,434,756.48. This trade represents a 2.07 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Everest Group

A number of hedge funds have recently modified their holdings of EG. Toronto Dominion Bank boosted its position in Everest Group by 1.0% during the third quarter. Toronto Dominion Bank now owns 21,585 shares of the company’s stock valued at $8,458,000 after purchasing an additional 212 shares during the last quarter. Coldstream Capital Management Inc. lifted its holdings in shares of Everest Group by 12.2% during the 3rd quarter. Coldstream Capital Management Inc. now owns 701 shares of the company’s stock valued at $272,000 after buying an additional 76 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Everest Group by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,155,760 shares of the company’s stock valued at $453,818,000 after buying an additional 16,180 shares in the last quarter. Brophy Wealth Management LLC acquired a new position in Everest Group in the third quarter worth approximately $749,000. Finally, Continuum Advisory LLC raised its position in Everest Group by 10.4% during the third quarter. Continuum Advisory LLC now owns 9,453 shares of the company’s stock valued at $3,465,000 after acquiring an additional 887 shares in the last quarter. 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.