Everest Group (NYSE:EG) Rating Increased to Outperform at BMO Capital Markets

BMO Capital Markets upgraded shares of Everest Group (NYSE:EG) from a market perform rating to an outperform rating in a research note published on Friday morning, MarketBeat reports. They currently have $453.00 target price on the stock, up from their previous target price of $372.00.

Several other research analysts have also recently commented on EG. Barclays lowered their target price 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 cut their target price 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. Wells Fargo & Company lowered their price target on shares of Everest Group from $402.00 to $390.00 and set an “equal weight” rating for the company in a report on Wednesday, December 4th. UBS Group raised shares of Everest Group to a “hold” rating in a research report on Wednesday, October 9th. Finally, Bank of America decreased their price objective 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. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Everest Group has an average rating of “Moderate Buy” and a consensus price target of $436.56.

Everest Group Price Performance

Everest Group stock opened at $353.95 on Friday. The company’s 50 day moving average is $368.04 and its two-hundred day moving average is $377.22. The firm has a market cap of $15.21 billion, a PE ratio of 5.54, a price-to-earnings-growth ratio of 2.69 and a beta of 0.65. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.22. Everest Group has a 52-week low of $343.76 and a 52-week high of $407.30.

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 dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date was Wednesday, November 27th. Everest Group’s dividend payout ratio (DPR) is currently 12.52%.

Insider Activity at Everest Group

In other Everest Group news, Director William F. Galtney, Jr. purchased 2,870 shares of Everest Group stock in a transaction on Monday, November 4th. The shares were bought at an average price of $348.64 per share, with a total value of $1,000,596.80. Following the completion of the acquisition, the director now directly owns 32,822 shares of the company’s stock, valued at approximately $11,443,062.08. This trade represents a 9.58 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mike Karmilowicz sold 269 shares of Everest Group 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 transaction, the executive vice president now 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. Insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Everest Group

Hedge funds have recently bought and sold shares of the stock. M&R Capital Management Inc. purchased a new stake in Everest Group during the 3rd quarter worth about $29,000. Bruce G. Allen Investments LLC grew its holdings 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 buying an additional 52 shares in the last quarter. Eastern Bank acquired a new position in shares of Everest Group in the third quarter valued at approximately $35,000. Brooklyn Investment Group purchased a new position in shares of Everest Group during the third quarter valued at approximately $39,000. Finally, American National Bank & Trust boosted its position in Everest Group by 80.0% during the third quarter. American National Bank & Trust now owns 126 shares of the company’s stock worth $49,000 after acquiring an additional 56 shares during the last quarter. Hedge funds and other institutional investors 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.