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

Everest Group, Ltd. (NYSE:EG) declared a quarterly dividend on Friday, November 8th,Wall Street Journal reports. Investors 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 annualized dividend and a yield of 2.17%. The ex-dividend date is Wednesday, November 27th.

Everest Group has raised its dividend payment by an average of 3.1% per year over the last three years. Everest Group has a dividend payout ratio of 12.0% meaning its dividend is sufficiently covered by earnings. Equities research 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 traded up $6.23 on Friday, hitting $368.28. The company’s stock had a trading volume of 262,040 shares, compared to its average volume of 347,393. The company has a current ratio of 0.40, a quick ratio of 0.38 and a debt-to-equity ratio of 0.22. The stock has a fifty day moving average of $383.56 and a two-hundred day moving average of $380.46. The firm has a market capitalization of $15.83 billion, a P/E ratio of 5.76, a price-to-earnings-growth ratio of 2.59 and a beta of 0.63. Everest Group has a one year low of $343.76 and a one year high of $417.92.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on EG shares. Wells Fargo & Company cut their target price on Everest Group from $406.00 to $402.00 and set an “equal weight” rating on the stock in a research note on Tuesday. TD Cowen cut their target price on Everest Group from $419.00 to $405.00 and set a “hold” rating on the stock in a research note on Tuesday, August 13th. Jefferies Financial Group lifted their target price on shares of Everest Group from $440.00 to $457.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Bank of America decreased their price objective on shares of Everest Group from $496.00 to $485.00 and set a “buy” rating for the company in a report on Thursday, October 10th. Finally, UBS Group raised shares of Everest Group to a “hold” rating in a research report on Wednesday, October 9th. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $438.00.

Insider Buying and Selling

In related news, Director William F. Galtney, Jr. bought 2,870 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were acquired at an average price of $348.64 per share, with a total value 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. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Everest Group news, Director William F. Galtney, Jr. bought 2,870 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was acquired at an average cost of $348.64 per share, with a total value of $1,000,596.80. Following the purchase, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mike Karmilowicz sold 269 shares of the 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 completion of the sale, the executive vice president now directly owns 12,726 shares of the company’s stock, valued at approximately $4,434,756.48. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by corporate insiders.

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.