Everest Group, Ltd. (NYSE:EG) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Everest Group, Ltd. (NYSE:EG) has received an average rating of “Moderate Buy” from the ten research firms that are currently covering the stock, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $436.56.

A number of brokerages have issued reports on EG. Barclays dropped their target price on shares of Everest Group from $517.00 to $499.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Bank of America reduced their price objective on Everest Group from $496.00 to $485.00 and set a “buy” rating for the company in a report on Thursday, October 10th. Keefe, Bruyette & Woods raised their price target on Everest Group from $420.00 to $434.00 and gave the company an “outperform” rating in a research report on Friday. Jefferies Financial Group lowered shares of Everest Group from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $420.00 to $429.00 in a research report on Tuesday, November 26th. Finally, UBS Group upgraded shares of Everest Group to a “hold” rating in a report on Wednesday, October 9th.

Insiders Place Their Bets

In related news, Director William F. Galtney, Jr. acquired 2,870 shares of the stock in a transaction dated Monday, November 4th. The stock was bought at an average cost of $348.64 per share, with a total value of $1,000,596.80. Following the purchase, the director now directly owns 32,822 shares of the company’s stock, valued at approximately $11,443,062.08. This represents a 9.58 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Mike Karmilowicz sold 269 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $348.48, for a total value 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 trade 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 Trading of Everest Group

Institutional investors have recently modified their holdings of the company. M&R Capital Management Inc. acquired a new position in Everest Group during the third quarter valued at approximately $29,000. Bruce G. Allen Investments LLC raised its stake in shares of Everest Group by 200.0% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 78 shares of the company’s stock valued at $31,000 after acquiring an additional 52 shares during the period. Eastern Bank acquired a new position in shares of Everest Group during the 3rd quarter valued at $35,000. Brooklyn Investment Group purchased a new stake in Everest Group during the 3rd quarter worth $39,000. Finally, American National Bank & Trust increased its holdings in Everest Group by 80.0% in the 3rd quarter. American National Bank & Trust now owns 126 shares of the company’s stock valued at $49,000 after purchasing an additional 56 shares in the last quarter. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Everest Group Stock Performance

Shares of EG opened at $353.95 on Monday. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.22. Everest Group has a 52-week low of $343.76 and a 52-week high of $407.30. The company has a 50-day simple moving average of $368.10 and a 200-day simple moving average of $376.99. The company has a market capitalization of $15.21 billion, a PE ratio of 5.54, a P/E/G ratio of 2.69 and a beta of 0.65.

Everest Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th were issued a $2.00 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $8.00 annualized dividend and a yield of 2.26%. Everest Group’s dividend payout ratio (DPR) is presently 12.52%.

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.