Everest Group (NYSE:EG) Price Target Cut to $499.00 by Analysts at Barclays

Everest Group (NYSE:EG) had its target price cut by Barclays from $517.00 to $499.00 in a report issued on Monday,Benzinga reports. They currently have an overweight rating on the stock.

Several other research analysts have also commented on the company. Jefferies Financial Group lowered Everest Group from a “buy” rating to a “hold” rating and lifted their price target for the stock from $420.00 to $429.00 in a research report on Tuesday, November 26th. BMO Capital Markets cut their target price on shares of Everest Group from $383.00 to $372.00 and set a “market perform” rating on the stock in a report on Thursday, November 14th. UBS Group upgraded shares of Everest Group to a “hold” rating in a research note on Wednesday, October 9th. Wells Fargo & Company dropped their price objective on shares of Everest Group from $402.00 to $390.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 4th. Finally, Bank of America lowered their price target on Everest Group from $496.00 to $485.00 and set a “buy” rating on the stock in a report on Thursday, October 10th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $428.00.

Everest Group Stock Performance

Shares of EG stock opened at $361.38 on Monday. The stock’s 50-day moving average is $368.14 and its two-hundred day moving average is $377.39. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.40 and a current ratio of 0.40. Everest Group has a 1 year low of $343.76 and a 1 year high of $407.30. The firm has a market cap of $15.53 billion, a price-to-earnings ratio of 5.66, a PEG ratio of 2.69 and a beta of 0.65.

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 2.21%. The ex-dividend date of this dividend was Wednesday, November 27th. Everest Group’s dividend payout ratio is presently 12.52%.

Insiders Place Their Bets

In related news, Director William F. Galtney, Jr. bought 2,870 shares of the stock in a transaction on Monday, November 4th. The shares were bought at an average cost of $348.64 per share, for a total transaction 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 $11,443,062.08. This represents a 9.58 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO James Allan Williamson sold 200 shares of Everest Group 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 sale, the chief operating officer now owns 15,009 shares of the company’s stock, 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. 1.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Everest Group

Institutional investors and hedge funds have recently modified their holdings of the company. M&R Capital Management Inc. purchased a new stake in Everest Group during the third quarter worth $29,000. Bruce G. Allen Investments LLC boosted its position in shares of Everest Group by 200.0% in 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 in the last quarter. Eastern Bank acquired a new stake in Everest Group in the 3rd quarter valued at about $35,000. Brooklyn Investment Group purchased a new position in Everest Group during the 3rd quarter valued at about $39,000. Finally, American National Bank & Trust raised its position in Everest Group by 80.0% during the third quarter. American National Bank & Trust now owns 126 shares of the company’s stock worth $49,000 after acquiring an additional 56 shares during the last quarter. Institutional investors and hedge funds own 92.64% of the company’s stock.

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.