Barclays Cuts Everest Group (NYSE:EG) Price Target to $461.00

Everest Group (NYSE:EG) had its target price trimmed by Barclays from $499.00 to $461.00 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other equities research analysts have also recently weighed in on EG. Bank of America cut their price objective on shares of Everest Group from $496.00 to $485.00 and set a “buy” rating for the company in a research report on Thursday, October 10th. Wells Fargo & Company decreased their price objective on shares of Everest Group from $390.00 to $380.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. BMO Capital Markets upgraded Everest Group from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $372.00 to $453.00 in a research note on Friday, January 10th. Jefferies Financial Group lowered Everest Group from a “buy” rating to a “hold” rating and lifted their price target for the company from $420.00 to $429.00 in a research note on Tuesday, November 26th. Finally, UBS Group upgraded Everest Group to a “hold” rating in a research report on Wednesday, October 9th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $422.56.

Everest Group Price Performance

NYSE:EG opened at $352.44 on Tuesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.40 and a current ratio of 0.40. The firm has a market cap of $15.15 billion, a price-to-earnings ratio of 5.52, a P/E/G ratio of 2.47 and a beta of 0.65. Everest Group has a 52 week low of $343.76 and a 52 week high of $407.30. The firm’s 50-day simple moving average is $366.17 and its 200 day simple moving average is $375.71.

Everest Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th were paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date was Wednesday, November 27th. Everest Group’s payout ratio is 12.52%.

Insider Activity

In other Everest Group news, COO James Allan Williamson sold 200 shares of the company’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $370.00, for a total value of $74,000.00. Following the sale, the chief operating officer now owns 15,009 shares in the company, valued at approximately $5,553,330. The trade was a 1.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Mike Karmilowicz sold 269 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $348.48, for a total value of $93,741.12. Following the transaction, the executive vice president now owns 12,726 shares of the company’s stock, valued at $4,434,756.48. This trade represents a 2.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by insiders.

Institutional Trading of Everest Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EG. M&R Capital Management Inc. acquired a new position in shares of Everest Group in the 3rd quarter valued at about $29,000. Bruce G. Allen Investments LLC lifted its stake in Everest Group by 200.0% in the third quarter. Bruce G. Allen Investments LLC now owns 78 shares of the company’s stock valued at $31,000 after buying an additional 52 shares during the period. Eastern Bank bought a new position in shares of Everest Group during the 3rd quarter worth approximately $35,000. Brooklyn Investment Group acquired a new stake in shares of Everest Group during the 3rd quarter worth approximately $39,000. Finally, American National Bank & Trust lifted its position in shares of Everest Group by 80.0% during the 3rd quarter. American National Bank & Trust now owns 126 shares of the company’s stock valued at $49,000 after acquiring an additional 56 shares during the period. Institutional investors and hedge funds own 92.64% of the company’s stock.

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.