Brokerages Set Everest Group, Ltd. (NYSE:EG) Target Price at $436.56

Shares of Everest Group, Ltd. (NYSE:EG) have been given a consensus recommendation of “Moderate Buy” by the ten brokerages that are presently covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $435.44.

A number of research firms have weighed in on EG. BMO Capital Markets raised shares of 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, January 10th. UBS Group upgraded Everest Group to a “hold” rating in a research note on Wednesday, October 9th. Bank of America decreased 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. Barclays dropped their target price on Everest Group from $517.00 to $499.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Finally, Keefe, Bruyette & Woods upped their price target on Everest Group from $420.00 to $434.00 and gave the stock an “outperform” rating in a report on Friday, January 10th.

Everest Group Price Performance

Shares of NYSE:EG opened at $362.60 on Monday. Everest Group has a twelve month low of $343.76 and a twelve month high of $407.30. The stock’s 50 day moving average is $367.92 and its 200-day moving average is $376.40. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $15.58 billion, a price-to-earnings ratio of 5.67, a PEG ratio of 2.33 and a beta of 0.65.

Everest Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th were given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 2.21%. The ex-dividend date was Wednesday, November 27th. Everest Group’s dividend payout ratio is presently 12.52%.

Insider Buying and Selling

In other news, Director William F. Galtney, Jr. acquired 2,870 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were acquired at an average price of $348.64 per share, for a total transaction of $1,000,596.80. Following the completion of the purchase, 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 ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Mike Karmilowicz sold 269 shares of the firm’s 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 sale, the executive vice president now directly owns 12,726 shares of the company’s stock, valued at $4,434,756.48. This represents a 2.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Everest Group

Institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC boosted its holdings in Everest Group by 284.8% in the 3rd quarter. SG Americas Securities LLC now owns 24,556 shares of the company’s stock worth $9,622,000 after buying an additional 18,175 shares during the period. B. Riley Wealth Advisors Inc. purchased a new position in shares of Everest Group in the second quarter valued at $921,000. JPMorgan Chase & Co. lifted its holdings in Everest Group by 19.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 78,469 shares of the company’s stock worth $30,747,000 after purchasing an additional 12,791 shares in the last quarter. Brophy Wealth Management LLC bought a new position in Everest Group in the 3rd quarter worth about $749,000. Finally, Intech Investment Management LLC grew its holdings in Everest Group by 13.1% during the 3rd quarter. Intech Investment Management LLC now owns 27,324 shares of the company’s stock valued at $10,706,000 after buying an additional 3,166 shares in the last quarter. 92.64% of the stock is owned by hedge funds and other institutional investors.

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.