Everest Group (NYSE:EG) Price Target Lowered to $372.00 at BMO Capital Markets

Everest Group (NYSE:EG) had its price target cut by BMO Capital Markets from $383.00 to $372.00 in a research note released on Thursday,Benzinga reports. They currently have a market perform rating on the stock.

A number of other equities analysts have also recently commented on the company. Jefferies Financial Group increased their target price on Everest Group from $440.00 to $457.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Wells Fargo & Company reduced their price objective on Everest Group from $406.00 to $402.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 5th. TD Cowen lowered their target price on shares of Everest Group from $419.00 to $405.00 and set a “hold” rating on the stock in a research note on Tuesday, August 13th. Keefe, Bruyette & Woods reduced their target price on shares of Everest Group from $454.00 to $438.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Finally, Barclays decreased their price target 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. Five equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Everest Group presently has an average rating of “Moderate Buy” and an average target price of $435.18.

Everest Group Price Performance

Shares of NYSE EG traded up $5.43 during trading on Thursday, hitting $371.93. The company had a trading volume of 259,131 shares, compared to its average volume of 348,668. Everest Group has a fifty-two week low of $343.76 and a fifty-two week high of $417.92. 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 stock has a fifty day simple moving average of $381.24 and a two-hundred day simple moving average of $380.50. The firm has a market capitalization of $15.99 billion, a price-to-earnings ratio of 5.80, a price-to-earnings-growth ratio of 2.66 and a beta of 0.63.

Everest Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend is Wednesday, November 27th. Everest Group’s dividend payout ratio is presently 12.52%.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Everest Group

Several institutional investors have recently modified their holdings of the business. American National Bank acquired a new stake in shares of Everest Group in the 2nd quarter valued at $27,000. M&R Capital Management Inc. acquired a new stake in Everest Group in the third quarter valued at $29,000. Bruce G. Allen Investments LLC lifted its holdings in Everest Group by 200.0% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 78 shares of the company’s stock worth $31,000 after buying an additional 52 shares during the last quarter. Eastern Bank purchased a new stake in Everest Group during the 3rd quarter worth about $35,000. Finally, Brooklyn Investment Group acquired a new position in shares of Everest Group during the 3rd quarter worth about $39,000. Institutional investors and hedge funds 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.