Barclays Cuts Everest Group (NYSE:EG) Price Target to $499.00

Everest Group (NYSE:EG) had its target price lowered by Barclays from $517.00 to $499.00 in a research note published on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other analysts also recently issued reports on EG. TD Cowen decreased their target price on Everest Group from $444.00 to $419.00 and set a “hold” rating for the company in a research report on Monday, November 18th. Wells Fargo & Company dropped their price objective on shares of Everest Group from $402.00 to $390.00 and set an “equal weight” rating for the company in a report on Wednesday, December 4th. BMO Capital Markets dropped their target price on Everest Group from $383.00 to $372.00 and set a “market perform” rating for the company in a research report on Thursday, November 14th. UBS Group raised shares of Everest Group to a “hold” rating in a research note on Wednesday, October 9th. Finally, Jefferies Financial Group lowered shares of Everest Group from a “buy” rating to a “hold” rating and increased their target price for the company from $420.00 to $429.00 in a report on Tuesday, November 26th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $428.00.

Everest Group Stock Performance

NYSE EG opened at $368.01 on Monday. 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 company has a fifty day moving average price of $367.79 and a 200-day moving average price of $377.28. 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 $15.82 billion, a price-to-earnings ratio of 5.76, a PEG ratio of 2.69 and a beta of 0.65.

Everest Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th were given a dividend of $2.00 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $8.00 dividend on an annualized basis and a yield of 2.17%. Everest Group’s dividend payout ratio (DPR) is presently 12.52%.

Insider Activity

In other Everest Group news, COO James Allan Williamson sold 200 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $370.00, for a total transaction 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. The trade was a 1.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Mike Karmilowicz sold 269 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $348.48, for a total value of $93,741.12. Following the transaction, the executive vice president now directly owns 12,726 shares in the company, valued at approximately $4,434,756.48. This represents a 2.07 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Everest Group

A number of institutional investors and hedge funds have recently bought and sold shares of the company. M&R Capital Management Inc. purchased a new position in Everest Group during the third quarter valued at approximately $29,000. Bruce G. Allen Investments LLC boosted its position in Everest Group by 200.0% during the third quarter. Bruce G. Allen Investments LLC now owns 78 shares of the company’s stock valued at $31,000 after purchasing an additional 52 shares in the last quarter. Eastern Bank purchased a new stake in shares of Everest Group during the third quarter valued at about $35,000. Brooklyn Investment Group bought a new stake in shares of Everest Group in the 3rd quarter valued at about $39,000. Finally, American National Bank & Trust grew its position in shares of Everest Group by 80.0% in the 3rd quarter. American National Bank & Trust now owns 126 shares of the company’s stock worth $49,000 after buying an additional 56 shares during the last quarter. 92.64% of the stock is owned by 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.