Everest Group (NYSE:EG – Free Report) had its price objective reduced by Wells Fargo & Company from $390.00 to $380.00 in a research note released on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight 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 raised their price target for the company from $372.00 to $453.00 in a report on Friday, January 10th. TD Cowen lowered their target price on shares of Everest Group from $444.00 to $419.00 and set a “hold” rating for the company in a research note on Monday, November 18th. Barclays cut their price target on shares of Everest Group from $517.00 to $499.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. UBS Group raised Everest Group to a “hold” rating in a research report on Wednesday, October 9th. Finally, Jefferies Financial Group downgraded Everest Group from a “buy” rating to a “hold” rating and boosted their target price for the stock from $420.00 to $429.00 in a research note on Tuesday, November 26th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $435.44.
Check Out Our Latest Stock Analysis on EG
Everest Group Trading Up 1.9 %
Everest Group Dividend Announcement
The company also recently declared 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 was Wednesday, November 27th. This represents a $8.00 dividend on an annualized basis and a yield of 2.23%. Everest Group’s dividend payout ratio is currently 12.52%.
Insider Buying and Selling at Everest Group
In other Everest Group news, COO James Allan Williamson sold 200 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $370.00, for a total value of $74,000.00. Following the sale, the chief operating officer now directly owns 15,009 shares of the company’s stock, valued at approximately $5,553,330. This represents a 1.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William F. Galtney, Jr. purchased 2,870 shares of the business’s 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 directly owns 32,822 shares in the company, valued at $11,443,062.08. This trade represents a 9.58 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.20% of the company’s stock.
Institutional Trading of Everest Group
A number of hedge funds have recently modified their holdings of EG. M&R Capital Management Inc. acquired a new position in Everest Group in the third quarter valued at approximately $29,000. Bruce G. Allen Investments LLC grew its stake 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 position in shares of Everest Group during the 3rd quarter valued at approximately $35,000. Brooklyn Investment Group acquired a new position in shares of Everest Group in the 3rd quarter valued at $39,000. Finally, American National Bank & Trust grew 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 valued at $49,000 after buying an additional 56 shares during the period. Hedge funds and other institutional investors own 92.64% of the company’s stock.
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.
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