Everest Group (NYSE:EG) Downgraded by Jefferies Financial Group to Hold

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

EG has been the subject of several other research reports. Barclays decreased their price target on Everest Group from $527.00 to $517.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Wells Fargo & Company decreased their target price on Everest Group from $406.00 to $402.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 5th. Keefe, Bruyette & Woods dropped their price target on shares of Everest Group from $454.00 to $438.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. UBS Group upgraded shares of Everest Group to a “hold” rating in a research note on Wednesday, October 9th. Finally, BMO Capital Markets lowered 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 research report on Thursday, November 14th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $431.30.

Everest Group Trading Down 0.6 %

Shares of NYSE EG opened at $387.59 on Tuesday. The firm’s 50 day moving average price is $380.79 and its 200-day moving average price is $380.87. Everest Group has a 52-week low of $343.76 and a 52-week high of $417.04. 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 company has a market cap of $16.66 billion, a PE ratio of 6.05, a P/E/G ratio of 2.88 and a beta of 0.63.

Everest Group Announces Dividend

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

Insider Transactions at Everest Group

In other news, Director William F. Galtney, Jr. bought 2,870 shares of Everest Group stock in a transaction that occurred on Monday, November 4th. The stock was bought at an average cost of $348.64 per share, with a total value of $1,000,596.80. Following the acquisition, the director now owns 32,822 shares of the company’s stock, valued at $11,443,062.08. The trade was a 9.58 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mike Karmilowicz sold 269 shares of Everest Group stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $348.48, for a total transaction of $93,741.12. Following the transaction, the executive vice president now directly owns 12,726 shares in the company, valued at $4,434,756.48. This represents a 2.07 % decrease in their position. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC lifted 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 purchasing an additional 18,175 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new position in shares of Everest Group in the second quarter worth $921,000. Intech Investment Management LLC boosted its position in shares of Everest Group by 13.1% during the third quarter. Intech Investment Management LLC now owns 27,324 shares of the company’s stock worth $10,706,000 after acquiring an additional 3,166 shares during the last quarter. Mutual of America Capital Management LLC grew its stake in Everest Group by 17.0% during the third quarter. Mutual of America Capital Management LLC now owns 19,962 shares of the company’s stock valued at $7,822,000 after acquiring an additional 2,900 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in Everest Group by 92.9% in the 2nd quarter. Blue Trust Inc. now owns 162 shares of the company’s stock valued at $64,000 after acquiring an additional 78 shares during the last quarter. 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.