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

Everest Group, Ltd. (NYSE:EG) announced a quarterly dividend on Friday, November 8th,Wall Street Journal reports. Shareholders 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 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend is Wednesday, November 27th.

Everest Group has increased its dividend payment by an average of 3.1% per year over the last three years. Everest Group has a dividend payout ratio of 12.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Everest Group to earn $67.26 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 11.9%.

Everest Group Price Performance

Everest Group stock traded up $6.23 during midday trading on Friday, reaching $368.28. 262,040 shares of the stock traded hands, compared to its average volume of 347,393. The stock’s fifty day moving average is $383.56 and its 200-day moving average is $380.46. Everest Group has a 12 month low of $343.76 and a 12 month high of $417.92. The stock has a market cap of $15.83 billion, a P/E ratio of 5.76, a PEG ratio of 2.59 and a beta of 0.63. The company has a quick ratio of 0.38, a current ratio of 0.40 and a debt-to-equity ratio of 0.22.

Insiders Place Their Bets

In other news, EVP Mike Karmilowicz sold 269 shares of Everest Group stock in a transaction on Monday, November 4th. The stock was 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 directly owns 12,726 shares of the company’s stock, valued at approximately $4,434,756.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Mike Karmilowicz sold 269 shares of Everest Group 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 sale, the executive vice president now owns 12,726 shares of the company’s stock, valued at approximately $4,434,756.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William F. Galtney, Jr. purchased 2,870 shares of the stock in a transaction on Monday, November 4th. The shares were acquired at an average cost of $348.64 per share, for a total transaction of $1,000,596.80. Following the transaction, the director now owns 32,822 shares of the company’s stock, valued at approximately $11,443,062.08. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. TD Cowen decreased their price objective on shares of Everest Group from $419.00 to $405.00 and set a “hold” rating for the company in a research report on Tuesday, August 13th. UBS Group raised shares of Everest Group to a “hold” rating in a research note on Wednesday, October 9th. Barclays lowered their target price on shares of Everest Group from $527.00 to $517.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Keefe, Bruyette & Woods reduced their price target on Everest Group from $454.00 to $438.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Finally, Wells Fargo & Company reduced their price objective on shares of Everest Group from $406.00 to $402.00 and set an “equal weight” rating on the stock in a report on Tuesday. Five investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $438.00.

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.