Everest Group (NYSE:EG) Downgraded to “Hold” Rating by Jefferies Financial Group

Jefferies Financial Group cut shares of Everest Group (NYSE:EG) from a buy rating to a hold rating in a research note issued to investors on Tuesday, MarketBeat reports. The brokerage currently has $429.00 price target on the stock, up from their prior price target of $420.00.

Several other brokerages also recently issued reports on EG. TD Cowen cut their price target on Everest Group from $444.00 to $419.00 and set a “hold” rating for the company in a report on Monday, November 18th. UBS Group raised shares of Everest Group to a “hold” rating in a research report on Wednesday, October 9th. Bank of America lowered their price target on shares of Everest Group from $496.00 to $485.00 and set a “buy” rating on the stock in a research report on Thursday, October 10th. Wells Fargo & Company decreased their target price on shares of Everest Group from $406.00 to $402.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 5th. Finally, Barclays reduced their price target on Everest Group from $527.00 to $517.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Everest Group currently has a consensus rating of “Hold” and a consensus price target of $431.30.

Everest Group Price Performance

Shares of NYSE EG opened at $387.48 on Tuesday. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.22. The business’s 50 day moving average price is $380.80 and its two-hundred day moving average price is $381.01. The company has a market cap of $16.65 billion, a PE ratio of 6.09, a price-to-earnings-growth ratio of 2.88 and a beta of 0.63. Everest Group has a twelve month low of $343.76 and a twelve month high of $413.18.

Everest Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th will be paid a $2.00 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $8.00 annualized dividend and a dividend yield of 2.06%. Everest Group’s payout ratio is 12.52%.

Insider Transactions at Everest Group

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

Institutional Investors Weigh In On Everest Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Mizuho Securities USA LLC increased its position in Everest Group by 12,263.1% in the 3rd quarter. Mizuho Securities USA LLC now owns 415,400 shares of the company’s stock valued at $162,766,000 after acquiring an additional 412,040 shares during the period. World Investment Advisors LLC bought a new stake in shares of Everest Group in the third quarter worth $120,564,000. Boston Partners increased its holdings in Everest Group by 29.1% in the first quarter. Boston Partners now owns 1,197,457 shares of the company’s stock valued at $475,750,000 after purchasing an additional 269,665 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Everest Group by 442.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 308,155 shares of the company’s stock worth $120,744,000 after purchasing an additional 251,337 shares during the last quarter. Finally, William Blair Investment Management LLC raised its position in Everest Group by 30.2% during the 2nd quarter. William Blair Investment Management LLC now owns 580,171 shares of the company’s stock worth $221,057,000 after purchasing an additional 134,517 shares during the last quarter. 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.