BMO Capital Markets Issues Pessimistic Forecast for Everest Group (NYSE:EG) Stock Price

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

Other equities analysts have also issued research reports about the company. Keefe, Bruyette & Woods reduced their target price on Everest Group from $454.00 to $438.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. UBS Group raised Everest Group to a “hold” rating in a research report on Wednesday, October 9th. Barclays cut their price target on Everest Group from $527.00 to $517.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Wells Fargo & Company cut their price target on Everest Group from $406.00 to $402.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 5th. Finally, TD Cowen cut their price target on Everest Group from $419.00 to $405.00 and set a “hold” rating on the stock in a research report on Tuesday, August 13th. Five analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $435.18.

Everest Group Stock Performance

Shares of EG stock opened at $371.33 on Thursday. The firm has a market capitalization of $15.96 billion, a price-to-earnings ratio of 5.81, 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. The business has a fifty day moving average of $380.99 and a 200 day moving average of $380.69. Everest Group has a 1 year low of $343.76 and a 1 year high of $417.92.

Everest Group Dividend Announcement

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

Insider Transactions at Everest Group

In related news, Director William F. Galtney, Jr. purchased 2,870 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were purchased 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 of the company’s stock, valued at $11,443,062.08. This represents a 9.58 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mike Karmilowicz sold 269 shares of the firm’s 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 transaction, the executive vice president now directly owns 12,726 shares in the company, valued at $4,434,756.48. This represents a 2.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of EG. American National Bank purchased a new position in Everest Group in the 2nd quarter worth approximately $27,000. M&R Capital Management Inc. purchased a new position in Everest Group in the 3rd quarter worth approximately $29,000. Bruce G. Allen Investments LLC lifted its stake in Everest Group by 200.0% in 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 in the last quarter. Eastern Bank purchased a new position in Everest Group in the 3rd quarter worth approximately $35,000. Finally, Brooklyn Investment Group purchased a new position in Everest Group in the 3rd quarter worth approximately $39,000. 92.64% of the stock is owned by hedge funds and other institutional investors.

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.