Barclays Has Lowered Expectations for Everest Group (NYSE:EG) Stock Price

Everest Group (NYSE:EG) had its price target reduced by Barclays from $517.00 to $499.00 in a research note issued to investors on Monday,Benzinga reports. Barclays currently has an overweight rating on the stock.

EG has been the subject of several other reports. TD Cowen decreased their target price on shares of Everest Group from $444.00 to $419.00 and set a “hold” rating for the company in a research note on Monday, November 18th. Bank of America cut 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. Jefferies Financial Group cut shares of Everest Group from a “buy” rating to a “hold” rating and increased their price target for the company from $420.00 to $429.00 in a research note on Tuesday, November 26th. BMO Capital Markets reduced their price objective on shares of Everest Group from $383.00 to $372.00 and set a “market perform” rating on the stock in a report on Thursday, November 14th. Finally, Wells Fargo & Company cut their price objective on Everest Group from $402.00 to $390.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 4th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $428.00.

Everest Group Price Performance

NYSE EG opened at $368.01 on Monday. The stock’s fifty day moving average price is $367.79 and its 200 day moving average price is $377.28. Everest Group has a 1 year low of $343.76 and a 1 year high of $407.30. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.40 and a quick ratio of 0.40. The company has a market cap of $15.82 billion, a price-to-earnings ratio of 5.76, a PEG ratio of 2.69 and a beta of 0.65.

Everest Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Wednesday, November 27th were paid a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend was Wednesday, November 27th. Everest Group’s dividend payout ratio (DPR) is 12.52%.

Insiders Place Their Bets

In other news, COO James Allan Williamson sold 200 shares of Everest Group 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 completion of the sale, the chief operating officer now owns 15,009 shares of the company’s stock, valued at $5,553,330. The trade was a 1.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mike Karmilowicz sold 269 shares of the stock in a transaction dated 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 in the company, valued at $4,434,756.48. This trade 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 currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Wedmont Private Capital raised its position in shares of Everest Group by 4.8% in the 3rd quarter. Wedmont Private Capital now owns 638 shares of the company’s stock valued at $238,000 after purchasing an additional 29 shares in the last quarter. IFM Investors Pty Ltd lifted its stake in Everest Group by 0.3% in the third quarter. IFM Investors Pty Ltd now owns 11,208 shares of the company’s stock valued at $4,392,000 after buying an additional 38 shares during the last quarter. Covestor Ltd increased its stake in shares of Everest Group by 9.0% in the third quarter. Covestor Ltd now owns 520 shares of the company’s stock valued at $204,000 after purchasing an additional 43 shares during the period. WealthTrust Asset Management LLC increased its stake in shares of Everest Group by 1.7% during the second quarter. WealthTrust Asset Management LLC now owns 2,770 shares of the company’s stock valued at $1,055,000 after acquiring an additional 45 shares during the period. Finally, Private Trust Co. NA lifted its holdings in shares of Everest Group by 51.7% in the third quarter. Private Trust Co. NA now owns 132 shares of the company’s stock valued at $52,000 after buying an additional 45 shares during the period. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

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.