Brokerages Set Everest Group, Ltd. (NYSE:EG) PT at $430.00

Shares of Everest Group, Ltd. (NYSE:EG) have earned an average recommendation of “Hold” from the ten brokerages that are presently covering the firm, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $430.00.

Several research firms have recently issued reports on EG. Bank of America lowered their price objective on Everest Group from $496.00 to $485.00 and set a “buy” rating for the company in a research report on Thursday, October 10th. TD Cowen dropped their price target on shares of Everest Group from $444.00 to $419.00 and set a “hold” rating on the stock in a research note on Monday, November 18th. Barclays reduced 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. Wells Fargo & Company dropped their target price on shares of Everest Group from $402.00 to $390.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 4th. Finally, UBS Group upgraded shares of Everest Group to a “hold” rating in a research note on Wednesday, October 9th.

Everest Group Stock Performance

Shares of EG stock opened at $356.64 on Thursday. The company has a market cap of $15.33 billion, a P/E ratio of 5.58, a PEG ratio of 2.69 and a beta of 0.64. The firm has a fifty day moving average price of $373.50 and a 200 day moving average price of $378.64. 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 has a 12 month low of $343.76 and a 12 month high of $407.30.

Everest Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th were given a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 2.24%. The ex-dividend date was Wednesday, November 27th. 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 company’s stock in a transaction on Monday, November 4th. The stock was bought at an average price of $348.64 per share, with a total value of $1,000,596.80. Following the completion of the transaction, the director now owns 32,822 shares of the company’s stock, valued at approximately $11,443,062.08. This represents a 9.58 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO James Allan Williamson sold 200 shares of the firm’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $370.00, for a total transaction 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 represents a 1.32 % 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

Institutional investors and hedge funds have recently modified their holdings of the stock. Mizuho Securities USA LLC boosted its holdings in Everest Group by 12,263.1% in the third quarter. Mizuho Securities USA LLC now owns 415,400 shares of the company’s stock valued at $162,766,000 after acquiring an additional 412,040 shares during the last quarter. World Investment Advisors LLC acquired a new position in shares of Everest Group in the 3rd quarter valued at about $120,564,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Everest Group by 442.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 308,155 shares of the company’s stock worth $120,744,000 after purchasing an additional 251,337 shares during the period. William Blair Investment Management LLC increased its position in Everest Group by 30.2% during the 2nd quarter. William Blair Investment Management LLC now owns 580,171 shares of the company’s stock worth $221,057,000 after purchasing an additional 134,517 shares in the last quarter. Finally, Assetmark Inc. raised its holdings in Everest Group by 39.7% in the third quarter. Assetmark Inc. now owns 409,989 shares of the company’s stock valued at $160,646,000 after buying an additional 116,559 shares during the period. 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.