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

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

Several other equities research analysts have also recently commented on EG. Bank of America cut their price target on Everest Group from $496.00 to $485.00 and set a “buy” rating for the company in a report on Thursday, October 10th. 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 report on Tuesday, November 26th. BMO Capital Markets dropped their price objective on shares of Everest Group from $383.00 to $372.00 and set a “market perform” rating for the company in a report on Thursday, November 14th. Wells Fargo & Company reduced their target price 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, UBS Group raised shares of Everest Group to a “hold” rating in a research note on Wednesday, October 9th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $428.00.

Everest Group Stock Down 1.0 %

EG stock opened at $361.38 on Monday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.22. The firm has a 50-day moving average of $368.14 and a two-hundred day moving average of $377.39. Everest Group has a 12 month low of $343.76 and a 12 month high of $407.30. The company 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th were paid a $2.00 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.21%. Everest Group’s payout ratio is presently 12.52%.

Insider Activity at Everest Group

In other news, COO James Allan Williamson sold 200 shares of the stock in a transaction on Thursday, November 14th. The stock was 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 in the company, valued at approximately $5,553,330. This trade represents a 1.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William F. Galtney, Jr. bought 2,870 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were bought at an average cost of $348.64 per share, with a total value of $1,000,596.80. Following the completion of the purchase, the director now directly owns 32,822 shares in the company, valued at $11,443,062.08. This represents a 9.58 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Everest Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC lifted its position in shares of Everest Group by 284.8% during the 3rd quarter. SG Americas Securities LLC now owns 24,556 shares of the company’s stock worth $9,622,000 after purchasing an additional 18,175 shares during the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in Everest Group during the 2nd quarter worth about $921,000. Brophy Wealth Management LLC acquired a new position in shares of Everest Group during the 3rd quarter worth about $749,000. Intech Investment Management LLC increased its holdings in shares of Everest Group by 13.1% in the 3rd quarter. Intech Investment Management LLC now owns 27,324 shares of the company’s stock valued at $10,706,000 after acquiring an additional 3,166 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Everest Group by 5.5% during the 3rd quarter. Principal Financial Group Inc. now owns 53,892 shares of the company’s stock worth $21,117,000 after acquiring an additional 2,818 shares in the last quarter. Hedge funds and other 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.