Everest Group (NYSE:EG) Given New $372.00 Price Target at BMO Capital Markets

Everest Group (NYSE:EG) had its price target cut by BMO Capital Markets from $383.00 to $372.00 in a research report released on Thursday,Benzinga reports. They currently have a market perform rating on the stock.

Several other equities research analysts also recently weighed in on the stock. TD Cowen decreased their target price on shares of Everest Group from $419.00 to $405.00 and set a “hold” rating for the company in a research note on Tuesday, August 13th. Jefferies Financial Group increased their price objective on Everest Group from $440.00 to $457.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Wells Fargo & Company dropped their price target on shares of Everest Group from $406.00 to $402.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 5th. UBS Group upgraded shares of Everest Group to a “hold” rating in a report on Wednesday, October 9th. Finally, Keefe, Bruyette & Woods lowered their target price on Everest Group from $454.00 to $438.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Five analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Everest Group has an average rating of “Moderate Buy” and an average price target of $435.18.

Everest Group Stock Performance

Shares of EG traded up $5.43 during mid-day trading on Thursday, reaching $371.93. 259,131 shares of the company’s stock were exchanged, compared to its average volume of 348,668. The business’s fifty day simple moving average is $381.24 and its 200-day simple moving average is $380.50. Everest Group has a 52-week low of $343.76 and a 52-week high of $417.92. The stock has a market capitalization of $15.99 billion, a PE ratio of 5.80, a price-to-earnings-growth ratio of 2.66 and a beta of 0.63. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.40 and a quick ratio of 0.40.

Everest Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th will be paid a dividend of $2.00 per share. The ex-dividend date is Wednesday, November 27th. This represents a $8.00 annualized dividend and a yield of 2.15%. Everest Group’s dividend payout ratio (DPR) is presently 12.52%.

Insider Activity at Everest Group

In other news, Director William F. Galtney, Jr. acquired 2,870 shares of Everest Group stock in a transaction on Monday, November 4th. The stock was bought at an average price of $348.64 per share, for a total transaction of $1,000,596.80. Following the transaction, the director now owns 32,822 shares of the company’s stock, valued at $11,443,062.08. The trade was a 9.58 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Mike Karmilowicz sold 269 shares of Everest Group stock in a transaction on Monday, November 4th. The stock was sold at an average price of $348.48, for a total transaction of $93,741.12. Following the sale, the executive vice president now owns 12,726 shares in the company, valued at $4,434,756.48. This represents a 2.07 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Everest Group

Several hedge funds have recently added to or reduced their stakes in EG. American National Bank acquired a new position in shares of Everest Group during the 2nd quarter worth about $27,000. M&R Capital Management Inc. acquired a new position in shares of Everest Group during the third quarter worth about $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 acquiring an additional 52 shares in the last quarter. Eastern Bank bought a new position in Everest Group in the third quarter valued at $35,000. Finally, Brooklyn Investment Group bought a new stake in Everest Group during the third quarter worth about $39,000. Institutional investors 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.