Everest Group (NYSE:EG) Price Target Raised to $434.00

Everest Group (NYSE:EG) had its price target hoisted by Keefe, Bruyette & Woods from $420.00 to $434.00 in a report released on Friday morning,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the stock.

Several other equities research analysts also recently commented on EG. Bank of America dropped their target price on Everest Group from $496.00 to $485.00 and set a “buy” rating on the stock in a report on Thursday, October 10th. BMO Capital Markets upgraded Everest Group from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $372.00 to $453.00 in a research note on Friday. Barclays lowered their price objective on Everest Group from $517.00 to $499.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. TD Cowen lowered their price objective on Everest Group from $444.00 to $419.00 and set a “hold” rating for the company in a research note on Monday, November 18th. Finally, UBS Group upgraded Everest Group to a “hold” rating in a research note on Wednesday, October 9th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $436.56.

Everest Group Stock Performance

Shares of NYSE:EG opened at $353.95 on Friday. The company has a market cap of $15.21 billion, a P/E ratio of 5.54, a PEG ratio of 2.69 and a beta of 0.65. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.40 and a current ratio of 0.40. Everest Group has a one year low of $343.76 and a one year high of $407.30. The business’s 50-day simple moving average is $368.10 and its 200 day simple moving average is $376.99.

Everest Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th were given a $2.00 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $8.00 annualized dividend and a dividend yield of 2.26%. Everest Group’s payout ratio is 12.52%.

Insider Transactions at Everest Group

In related news, Director William F. Galtney, Jr. purchased 2,870 shares of the business’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 acquisition, the director now owns 32,822 shares in the company, valued at approximately $11,443,062.08. This trade represents a 9.58 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Mike Karmilowicz sold 269 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 12,726 shares in the company, valued at approximately $4,434,756.48. This trade represents a 2.07 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

Institutional Trading of Everest Group

Several hedge funds have recently made changes to their positions in EG. Wedmont Private Capital raised its stake in Everest Group by 4.8% during the 3rd quarter. Wedmont Private Capital now owns 638 shares of the company’s stock valued at $238,000 after acquiring an additional 29 shares in the last quarter. IFM Investors Pty Ltd raised its stake in Everest Group by 0.3% during the 3rd quarter. IFM Investors Pty Ltd now owns 11,208 shares of the company’s stock valued at $4,392,000 after acquiring an additional 38 shares in the last quarter. Covestor Ltd raised its stake in Everest Group by 9.0% during the 3rd quarter. Covestor Ltd now owns 520 shares of the company’s stock valued at $204,000 after acquiring an additional 43 shares in the last quarter. WealthTrust Asset Management LLC raised its stake in Everest Group by 1.7% during the 2nd quarter. WealthTrust Asset Management LLC now owns 2,770 shares of the company’s stock valued at $1,055,000 after acquiring an additional 45 shares in the last quarter. Finally, Private Trust Co. NA raised its stake in Everest Group by 51.7% during the 3rd quarter. Private Trust Co. NA now owns 132 shares of the company’s stock valued at $52,000 after acquiring an additional 45 shares in the last quarter. 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.