Everest Group (NYSE:EG) Given New $434.00 Price Target at Keefe, Bruyette & Woods

Everest Group (NYSE:EG) had its target price boosted by Keefe, Bruyette & Woods from $420.00 to $434.00 in a research note issued to investors on Friday morning,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the stock.

A number of other analysts have also recently issued reports on EG. BMO Capital Markets raised Everest Group from a “market perform” rating to an “outperform” rating and upped their target price for the company from $372.00 to $453.00 in a research report on Friday. Bank of America lowered their target price 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. Jefferies Financial Group downgraded shares of Everest Group from a “buy” rating to a “hold” rating and upped their price target for the company from $420.00 to $429.00 in a research report on Tuesday, November 26th. TD Cowen dropped their price objective on shares of Everest Group from $444.00 to $419.00 and set a “hold” rating on the stock in a research note on Monday, November 18th. Finally, Barclays reduced their target price on shares of Everest Group from $517.00 to $499.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $436.56.

Everest Group Price Performance

Shares of EG opened at $353.95 on Friday. The firm has a fifty day moving average price of $368.04 and a 200 day moving average price of $377.22. The stock has a market cap of $15.21 billion, a PE ratio of 5.54, a price-to-earnings-growth ratio of 2.69 and a beta of 0.65. Everest Group has a 1-year low of $343.76 and a 1-year high of $407.30. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.40 and a quick ratio of 0.40.

Everest Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th were issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date was Wednesday, November 27th. Everest Group’s dividend payout ratio is presently 12.52%.

Insiders Place Their Bets

In other news, COO James Allan Williamson sold 200 shares of the stock in a transaction dated 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 in the company, valued at $5,553,330. This trade represents a 1.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William F. Galtney, Jr. acquired 2,870 shares of Everest Group stock in a transaction that occurred on Monday, November 4th. The stock was bought at an average price of $348.64 per share, with a total value of $1,000,596.80. Following the purchase, the director now directly 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 currently owned by insiders.

Hedge Funds Weigh In On Everest Group

Hedge funds have recently bought and sold shares of the company. Wedmont Private Capital raised its position in Everest Group by 4.8% during the third quarter. Wedmont Private Capital now owns 638 shares of the company’s stock worth $238,000 after acquiring an additional 29 shares during the last quarter. IFM Investors Pty Ltd raised its position in shares of Everest Group by 0.3% during the 3rd quarter. IFM Investors Pty Ltd now owns 11,208 shares of the company’s stock worth $4,392,000 after purchasing an additional 38 shares during the last quarter. Covestor Ltd lifted its stake in Everest Group by 9.0% in the 3rd quarter. Covestor Ltd now owns 520 shares of the company’s stock valued at $204,000 after buying an additional 43 shares in the last quarter. WealthTrust Asset Management LLC grew its holdings in Everest Group by 1.7% during the 2nd quarter. WealthTrust Asset Management LLC now owns 2,770 shares of the company’s stock valued at $1,055,000 after buying an additional 45 shares during the last quarter. Finally, Private Trust Co. NA increased its position in Everest Group by 51.7% during the third quarter. Private Trust Co. NA now owns 132 shares of the company’s stock worth $52,000 after buying an additional 45 shares in the last quarter. 92.64% of the stock is owned by hedge funds and other institutional investors.

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.