Everest Group (NYSE:EG) Price Target Cut to $461.00 by Analysts at Barclays

Everest Group (NYSE:EGFree Report) had its price target trimmed by Barclays from $499.00 to $461.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an overweight rating on the stock.

EG has been the topic of a number of other reports. BMO Capital Markets upgraded shares of 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. UBS Group upgraded shares of Everest Group to a “hold” rating in a research note on Wednesday, October 9th. Keefe, Bruyette & Woods upped their target price on shares of Everest Group from $420.00 to $434.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. Bank of America dropped 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 note on Thursday, October 10th. Finally, TD Cowen dropped their target price 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. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $431.22.

View Our Latest Stock Analysis on EG

Everest Group Stock Performance

Shares of NYSE:EG opened at $368.24 on Tuesday. The company has a market capitalization of $15.83 billion, a price-to-earnings ratio of 5.76, a PEG ratio of 2.47 and a beta of 0.65. Everest Group has a 12 month low of $343.76 and a 12 month high of $407.30. The firm’s 50-day moving average is $367.33 and its 200 day moving average is $376.04. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.22.

Everest Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th were given a $2.00 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $8.00 annualized dividend and a dividend yield of 2.17%. Everest Group’s payout ratio is presently 12.52%.

Insider Activity at Everest Group

In related news, COO James Allan Williamson sold 200 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $370.00, for a total transaction of $74,000.00. Following the completion of the sale, the chief operating officer now owns 15,009 shares of the company’s stock, valued at $5,553,330. This represents a 1.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director William F. Galtney, Jr. bought 2,870 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were purchased at an average cost of $348.64 per share, with a total value of $1,000,596.80. Following the transaction, the director now directly owns 32,822 shares of the company’s stock, valued at $11,443,062.08. The trade was 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 corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC raised its holdings in shares of Everest Group by 1.4% in the third quarter. Geode Capital Management LLC now owns 1,155,760 shares of the company’s stock worth $453,818,000 after buying an additional 16,180 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Everest Group by 6.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 490,691 shares of the company’s stock worth $192,267,000 after buying an additional 30,458 shares during the last quarter. Mizuho Securities USA LLC raised its holdings in shares of Everest Group by 12,263.1% in the third quarter. Mizuho Securities USA LLC now owns 415,400 shares of the company’s stock worth $162,766,000 after buying an additional 412,040 shares during the last quarter. FMR LLC raised its holdings in shares of Everest Group by 21.5% in the third quarter. FMR LLC now owns 410,861 shares of the company’s stock worth $160,988,000 after buying an additional 72,822 shares during the last quarter. Finally, Assetmark Inc. raised its holdings in shares of Everest Group by 39.7% in the third quarter. Assetmark Inc. now owns 409,989 shares of the company’s stock worth $160,646,000 after buying an additional 116,559 shares during the last quarter. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Everest Group Company Profile

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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.

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Analyst Recommendations for Everest Group (NYSE:EG)

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