Everest Group (NYSE:EG) Cut to Hold at Jefferies Financial Group

Jefferies Financial Group lowered shares of Everest Group (NYSE:EG) from a buy rating to a hold rating in a research note published on Tuesday, MarketBeat.com reports. They currently have $429.00 price target on the stock, up from their previous price target of $420.00.

A number of other analysts also recently issued reports on the stock. TD Cowen cut their price target on shares of Everest Group from $444.00 to $419.00 and set a “hold” rating for the company in a report on Monday, November 18th. BMO Capital Markets lowered their price target on Everest Group from $383.00 to $372.00 and set a “market perform” rating for the company in a report on Thursday, November 14th. Keefe, Bruyette & Woods reduced their price objective 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 dropped their price target on shares of Everest Group from $496.00 to $485.00 and set a “buy” rating for the company in a research report on Thursday, October 10th. Finally, Barclays lowered their price objective on shares of Everest Group from $527.00 to $517.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $431.30.

Everest Group Trading Up 0.9 %

Shares of EG stock opened at $389.00 on Tuesday. Everest Group has a twelve month low of $343.76 and a twelve month high of $417.04. The stock has a market cap of $16.72 billion, a price-to-earnings ratio of 6.09, a PEG ratio of 2.89 and a beta of 0.63. The company’s 50-day moving average price is $380.79 and its 200-day moving average price is $380.95. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.22.

Everest Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th will be paid a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend is Wednesday, November 27th. Everest Group’s payout ratio is presently 12.52%.

Insider Buying and Selling

In other Everest Group news, COO James Allan Williamson sold 200 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $370.00, for a total value of $74,000.00. Following the sale, the chief operating officer now directly owns 15,009 shares in the company, valued at $5,553,330. This trade represents a 1.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William F. Galtney, Jr. acquired 2,870 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was acquired at an average price of $348.64 per share, for a total transaction 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. The trade was a 9.58 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. American National Bank acquired a new stake in shares of Everest Group in the 2nd quarter valued at about $27,000. M&R Capital Management Inc. acquired a new stake in shares of Everest Group in the third quarter valued at approximately $29,000. Bruce G. Allen Investments LLC grew its position in shares of Everest Group by 200.0% during the third quarter. Bruce G. Allen Investments LLC now owns 78 shares of the company’s stock worth $31,000 after acquiring an additional 52 shares during the last quarter. Eastern Bank acquired a new position in shares of Everest Group in the 3rd quarter valued at $35,000. Finally, Brooklyn Investment Group acquired a new position in shares of Everest Group in the 3rd quarter valued at $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.