Everest Group (NYSE:EG) Price Target Lowered to $419.00 at TD Cowen

Everest Group (NYSE:EG) had its price target trimmed by TD Cowen from $444.00 to $419.00 in a report published on Monday,Benzinga reports. The firm currently has a hold rating on the stock.

A number of other equities analysts have also commented on the stock. BMO Capital Markets dropped their price target on shares of Everest Group from $383.00 to $372.00 and set a “market perform” rating on the stock in a research report on Thursday, November 14th. Keefe, Bruyette & Woods dropped their target price on shares of Everest Group from $454.00 to $438.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Bank of America decreased their price target 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. Wells Fargo & Company lowered 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, Barclays cut their price objective on Everest Group from $527.00 to $517.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Five investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $436.45.

Everest Group Stock Up 0.5 %

Shares of EG stock opened at $373.33 on Monday. The stock’s 50 day simple moving average is $380.72 and its 200 day simple moving average is $380.70. Everest Group has a twelve month low of $343.76 and a twelve month high of $417.92. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.40 and a current ratio of 0.40. The company has a market capitalization of $16.05 billion, a price-to-earnings ratio of 5.84, a PEG ratio of 2.66 and a beta of 0.63.

Everest Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be issued a $2.00 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.14%. Everest Group’s dividend payout ratio is 12.52%.

Insider Buying and Selling

In other Everest Group news, EVP Mike Karmilowicz sold 269 shares of the company’s 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 transaction, the executive vice president now owns 12,726 shares of the company’s stock, valued at approximately $4,434,756.48. This represents a 2.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William F. Galtney, Jr. acquired 2,870 shares of the firm’s 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 directly owns 32,822 shares in the company, valued at approximately $11,443,062.08. The trade was a 9.58 % increase in their position. The disclosure for this purchase can be found here. 1.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Everest Group

Large investors have recently made changes to their positions in the company. American National Bank acquired a new stake in Everest Group in the second quarter worth about $27,000. M&R Capital Management Inc. acquired a new stake in shares of Everest Group during the 3rd quarter worth approximately $29,000. Bruce G. Allen Investments LLC grew its position 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 buying an additional 52 shares during the period. Eastern Bank bought a new stake in shares of Everest Group during the third quarter worth approximately $35,000. Finally, Brooklyn Investment Group acquired a new position in Everest Group in the third quarter valued at approximately $39,000. Institutional investors and hedge funds own 92.64% of the company’s stock.

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.