Everest Group (NYSE:EG) Lowered to “Hold” Rating by Jefferies Financial Group

Jefferies Financial Group lowered shares of Everest Group (NYSE:EG) from a buy rating to a hold rating in a research report released on Tuesday, Marketbeat Ratings reports. Jefferies Financial Group currently has $429.00 price target on the stock, up from their prior price target of $420.00.

Several other research firms have also recently commented on EG. UBS Group upgraded shares of Everest Group to a “hold” rating in a research note on Wednesday, October 9th. Wells Fargo & Company reduced their price objective on shares of Everest Group from $406.00 to $402.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 5th. TD Cowen dropped their target price on Everest Group from $444.00 to $419.00 and set a “hold” rating on the stock in a research report on Monday, November 18th. Bank of America reduced their price target on Everest Group from $496.00 to $485.00 and set a “buy” rating for the company in a report on Thursday, October 10th. Finally, Barclays dropped their price objective on Everest Group from $527.00 to $517.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $431.30.

Everest Group Price Performance

Everest Group stock opened at $389.00 on Tuesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.40 and a quick ratio of 0.40. The business has a 50 day simple moving average of $380.79 and a 200-day simple moving average of $380.95. Everest Group has a 12 month low of $343.76 and a 12 month high of $417.04. The stock has a market capitalization of $16.72 billion, a PE ratio of 6.09, a price-to-earnings-growth ratio of 2.89 and a beta of 0.63.

Everest Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th will be given a $2.00 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $8.00 annualized dividend and a dividend yield of 2.06%. Everest Group’s dividend payout ratio is presently 12.52%.

Insider Transactions at Everest Group

In other Everest Group news, Director William F. Galtney, Jr. acquired 2,870 shares of the stock in a transaction dated Monday, November 4th. The stock was acquired 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 directly owns 32,822 shares in the company, valued at approximately $11,443,062.08. This trade represents a 9.58 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO James Allan Williamson sold 200 shares of the firm’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 completion of the sale, the chief operating officer now directly owns 15,009 shares in the company, valued at approximately $5,553,330. The trade was a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. American National Bank purchased a new stake in Everest Group during the second quarter valued at about $27,000. 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 grew its holdings in shares of 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 purchasing an additional 52 shares during the period. Eastern Bank purchased a new stake in shares of Everest Group during the 3rd quarter worth about $35,000. Finally, Brooklyn Investment Group acquired a new stake in Everest Group during the 3rd quarter worth approximately $39,000. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

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.