Everest Group (NYSE:EG) Cut to “Market Perform” at BMO Capital Markets

BMO Capital Markets cut shares of Everest Group (NYSE:EG) from an outperform rating to a market perform rating in a research note released on Thursday morning, Marketbeat.com reports. The firm currently has $375.00 price target on the stock, down from their prior price target of $453.00.

A number of other brokerages have also commented on EG. UBS Group upgraded Everest Group to a “hold” rating in a report on Wednesday, October 9th. Jefferies Financial Group downgraded 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 report on Tuesday, November 26th. TD Cowen dropped their price objective on shares of Everest Group from $444.00 to $419.00 and set a “hold” rating on the stock in a report on Monday, November 18th. Barclays reduced their target price on shares of Everest Group from $499.00 to $461.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, Bank of America lowered their price target on Everest Group from $496.00 to $485.00 and set a “buy” rating on the stock in a research note on Thursday, October 10th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $422.56.

Everest Group Trading Up 0.3 %

Everest Group stock opened at $352.44 on Thursday. The business’s 50-day simple moving average is $366.17 and its 200-day simple moving average is $375.71. Everest Group has a 52 week low of $343.76 and a 52 week high of $407.30. The firm has a market capitalization of $15.15 billion, a PE ratio of 5.52, a PEG ratio of 2.39 and a beta of 0.65. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.40 and a current ratio of 0.40.

Everest Group Dividend Announcement

The business also recently announced 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 was Wednesday, November 27th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.27%. Everest Group’s payout ratio is presently 12.52%.

Insider Activity at Everest Group

In other Everest Group news, EVP Mike Karmilowicz sold 269 shares of Everest Group stock in a transaction 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 completion of the transaction, the executive vice president now owns 12,726 shares in the company, valued at approximately $4,434,756.48. The trade was a 2.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO James Allan Williamson sold 200 shares of the 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 sale, the chief operating officer now owns 15,009 shares in the company, valued at $5,553,330. The trade was a 1.32 % decrease in their position. The disclosure for this sale can be found here. 1.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in EG. SG Americas Securities LLC raised its stake in shares of Everest Group by 284.8% in the third quarter. SG Americas Securities LLC now owns 24,556 shares of the company’s stock worth $9,622,000 after acquiring an additional 18,175 shares during the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Everest Group in the second quarter valued at approximately $921,000. JPMorgan Chase & Co. raised its position in Everest Group by 19.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 78,469 shares of the company’s stock worth $30,747,000 after purchasing an additional 12,791 shares during the last quarter. Brophy Wealth Management LLC acquired a new position in Everest Group during the 3rd quarter worth $749,000. Finally, Intech Investment Management LLC lifted its holdings in 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 buying an additional 3,166 shares in the last quarter. 92.64% of the stock is owned by 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.