Everest Group (NYSE:EG) Upgraded to “Outperform” at BMO Capital Markets

BMO Capital Markets upgraded shares of Everest Group (NYSE:EGFree Report) from a market perform rating to an outperform rating in a research note issued to investors on Friday morning, MarketBeat reports. BMO Capital Markets currently has $453.00 price target on the stock, up from their prior price target of $372.00.

Other research analysts have also recently issued reports about the stock. Wells Fargo & Company lowered their price target on shares of Everest Group from $402.00 to $390.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 4th. TD Cowen cut their price objective 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. Barclays reduced 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. Jefferies Financial Group lowered shares of Everest Group from a “buy” rating to a “hold” rating and lifted their price target for the company from $420.00 to $429.00 in a report on Tuesday, November 26th. Finally, UBS Group raised Everest Group to a “hold” rating in a report on Wednesday, October 9th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Everest Group currently has a consensus rating of “Moderate Buy” and an average target price of $436.56.

View Our Latest Stock Analysis on EG

Everest Group Price Performance

NYSE EG opened at $353.95 on Friday. The firm’s 50 day moving average is $368.04 and its 200-day moving average is $377.22. Everest Group has a 12-month low of $343.76 and a 12-month high of $407.30. 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 company has a market capitalization 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.

Everest Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th were issued a $2.00 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $8.00 annualized dividend and a dividend yield of 2.26%. Everest Group’s dividend payout ratio is currently 12.52%.

Insider Buying and Selling at Everest Group

In related news, COO James Allan Williamson sold 200 shares of the company’s stock in a transaction that occurred 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 transaction, the chief operating officer now directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director William F. Galtney, Jr. purchased 2,870 shares of Everest Group stock in a transaction dated 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 purchase, 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 disclosure for this purchase can be found here. 1.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Everest Group

Institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC boosted its stake in shares of Everest Group by 284.8% during the 3rd quarter. SG Americas Securities LLC now owns 24,556 shares of the company’s stock worth $9,622,000 after purchasing an additional 18,175 shares during the period. B. Riley Wealth Advisors Inc. acquired a new position in shares of Everest Group in the second quarter valued at about $921,000. Brophy Wealth Management LLC acquired a new position in Everest Group during the third quarter valued at $749,000. Intech Investment Management LLC grew its stake in shares of Everest Group by 13.1% during the 3rd quarter. Intech Investment Management LLC now owns 27,324 shares of the company’s stock worth $10,706,000 after purchasing an additional 3,166 shares during the period. Finally, Principal Financial Group Inc. boosted its position in Everest Group by 5.5% during the third quarter. Principal Financial Group Inc. now owns 53,892 shares of the company’s stock worth $21,117,000 after purchasing an additional 2,818 shares in the last quarter. 92.64% of the stock is owned by hedge funds and other institutional investors.

About Everest Group

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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.

Further Reading

Analyst Recommendations for Everest Group (NYSE:EG)

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