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

Jefferies Financial Group downgraded shares of Everest Group (NYSE:EG) from a buy rating to a hold rating in a research note released on Tuesday, Marketbeat Ratings reports. Jefferies Financial Group currently has $429.00 price target on the stock, up from their prior price target of $420.00.

A number of other analysts also recently commented on EG. Bank of America decreased their price target 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. Barclays decreased their target price on Everest Group from $527.00 to $517.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. UBS Group upgraded Everest Group to a “hold” rating in a research note on Wednesday, October 9th. TD Cowen reduced their price target on shares of Everest Group from $444.00 to $419.00 and set a “hold” rating for the company in a research report on Monday, November 18th. Finally, Wells Fargo & Company lowered their price objective on shares of Everest Group from $406.00 to $402.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 5th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $431.30.

Everest Group Trading Down 0.4 %

NYSE:EG opened at $387.48 on Tuesday. Everest Group has a 52 week low of $343.76 and a 52 week high of $413.18. The firm has a 50-day moving average price of $380.80 and a two-hundred day moving average price of $381.01. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.40 and a current ratio of 0.40. The firm has a market cap of $16.65 billion, a price-to-earnings ratio of 6.09, a price-to-earnings-growth ratio of 2.88 and a beta of 0.63.

Everest Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th will be given a dividend of $2.00 per share. The ex-dividend date is Wednesday, November 27th. This represents a $8.00 dividend on an annualized basis and a yield of 2.06%. Everest Group’s dividend payout ratio is presently 12.52%.

Insider Transactions at Everest Group

In related news, COO James Allan Williamson sold 200 shares of the 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 owns 15,009 shares of the company’s stock, valued at approximately $5,553,330. This represents a 1.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Mike Karmilowicz sold 269 shares of Everest Group stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $348.48, for a total value of $93,741.12. Following the transaction, the executive vice president now directly owns 12,726 shares of the company’s stock, valued at $4,434,756.48. The trade was a 2.07 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

Institutional Trading of Everest Group

Several institutional investors and hedge funds have recently bought and sold shares of EG. Boston Partners raised its holdings in shares of Everest Group by 29.1% in the 1st quarter. Boston Partners now owns 1,197,457 shares of the company’s stock valued at $475,750,000 after acquiring an additional 269,665 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Everest Group by 1.4% during the third quarter. Geode Capital Management LLC now owns 1,155,760 shares of the company’s stock worth $453,818,000 after purchasing an additional 16,180 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Everest Group by 1.8% in the second quarter. AQR Capital Management LLC now owns 1,032,479 shares of the company’s stock worth $393,395,000 after purchasing an additional 17,885 shares during the last quarter. William Blair Investment Management LLC raised its stake in Everest Group by 30.2% in the second quarter. William Blair Investment Management LLC now owns 580,171 shares of the company’s stock valued at $221,057,000 after purchasing an additional 134,517 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Everest Group by 7.7% during the second quarter. Dimensional Fund Advisors LP now owns 535,121 shares of the company’s stock valued at $203,891,000 after purchasing an additional 38,254 shares during the last quarter. 92.64% of the stock is currently 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.