Everest Group, Ltd. Declares Quarterly Dividend of $2.00 (NYSE:EG)

Everest Group, Ltd. (NYSE:EG) declared a quarterly dividend on Thursday, November 7th,Wall Street Journal reports. Shareholders of record on Wednesday, November 27th will be paid a dividend of 2.00 per share on Friday, December 13th. This represents a $8.00 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date is Wednesday, November 27th.

Everest Group has increased its dividend payment by an average of 3.1% annually over the last three years. Everest Group has a payout ratio of 12.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Everest Group to earn $67.26 per share next year, which means the company should continue to be able to cover its $8.00 annual dividend with an expected future payout ratio of 11.9%.

Everest Group Stock Performance

NYSE:EG opened at $368.30 on Friday. Everest Group has a twelve month low of $343.76 and a twelve month high of $417.92. The company has a quick ratio of 0.38, a current ratio of 0.40 and a debt-to-equity ratio of 0.22. The stock has a market cap of $15.83 billion, a P/E ratio of 5.76, a PEG ratio of 2.59 and a beta of 0.63. The business’s 50-day moving average price is $383.08 and its two-hundred day moving average price is $380.43.

Insider Buying and Selling

In related news, Director William F. Galtney, Jr. acquired 2,870 shares of the stock in a transaction on Monday, November 4th. The stock was purchased at an average price 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 trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Mike Karmilowicz sold 269 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $348.48, for a total transaction of $93,741.12. Following the completion of the sale, the executive vice president now directly owns 12,726 shares in the company, valued at approximately $4,434,756.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William F. Galtney, Jr. purchased 2,870 shares of Everest Group stock in a transaction that occurred on Monday, November 4th. The shares were acquired at an average price of $348.64 per share, for a total transaction of $1,000,596.80. Following the acquisition, the director now owns 32,822 shares in the company, valued at $11,443,062.08. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on EG. TD Cowen decreased their price target on shares of Everest Group from $419.00 to $405.00 and set a “hold” rating on the stock in a report on Tuesday, August 13th. BMO Capital Markets reissued a “market perform” rating and issued a $403.00 target price on shares of Everest Group in a research note on Friday, August 30th. Keefe, Bruyette & Woods lowered their price target on Everest Group from $454.00 to $438.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Barclays cut their price objective on Everest Group from $527.00 to $517.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Finally, Jefferies Financial Group raised their price objective on Everest Group from $440.00 to $457.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Five research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $438.00.

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.