Everest Group, Ltd. (NYSE:EG) Declares Quarterly Dividend of $2.00

Everest Group, Ltd. (NYSE:EG) declared a quarterly dividend on Thursday, November 7th,Wall Street Journal reports. Investors of record on Wednesday, November 27th will be given a dividend of 2.00 per share on Friday, December 13th. This represents a $8.00 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date is Wednesday, November 27th.

Everest Group has increased its dividend by an average of 3.1% annually over the last three years. Everest Group has a payout ratio of 12.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Everest Group to earn $66.77 per share next year, which means the company should continue to be able to cover its $8.00 annual dividend with an expected future payout ratio of 12.0%.

Everest Group Stock Up 0.3 %

EG stock opened at $390.31 on Tuesday. 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 firm has a 50-day moving average of $380.77 and a two-hundred day moving average of $380.80. Everest Group has a 12 month low of $343.76 and a 12 month high of $417.04. The company has a market cap of $16.78 billion, a price-to-earnings ratio of 6.11, a PEG ratio of 2.88 and a beta of 0.63.

Insider Activity

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 value of $74,000.00. Following the transaction, the chief operating officer now owns 15,009 shares of the company’s stock, valued at $5,553,330. This represents a 1.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Mike Karmilowicz sold 269 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $348.48, for a total value of $93,741.12. Following the completion of the sale, the executive vice president now owns 12,726 shares in the company, valued at approximately $4,434,756.48. This represents a 2.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on EG. Wells Fargo & Company lowered their price objective on Everest Group from $406.00 to $402.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 5th. Jefferies Financial Group upped their price objective on shares of Everest Group from $440.00 to $457.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. UBS Group raised shares of Everest Group to a “hold” rating in a research note on Wednesday, October 9th. BMO Capital Markets dropped their price target on shares of Everest Group from $383.00 to $372.00 and set a “market perform” rating for the company in a research note on Thursday, November 14th. Finally, TD Cowen cut their price objective on Everest Group from $444.00 to $419.00 and set a “hold” rating on the stock in a report on Monday, November 18th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $434.10.

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.