Everest Group, Ltd. (NYSE:EG - Get Free Report) declared a quarterly dividend on Thursday, November 7th,Wall Street Journal reports. Investors of record on Wednesday, November 27th will be given a dividend of 2.00 per share on Friday, December 13th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend is Wednesday, November 27th.
Everest Group has increased its dividend by an average of 3.1% per year over the last three years. Everest Group has a dividend payout ratio of 12.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Everest Group to earn $67.26 per share next year, which means the company should continue to be able to cover its $8.00 annual dividend with an expected future payout ratio of 11.9%.
Everest Group Trading Up 1.7 %
Shares of NYSE EG traded up $6.24 during mid-day trading on Friday, hitting $368.29. 408,387 shares of the company traded hands, compared to its average volume of 348,067. The company has a quick ratio of 0.38, a current ratio of 0.40 and a debt-to-equity ratio of 0.22. Everest Group has a 1 year low of $343.76 and a 1 year high of $417.92. The stock has a market capitalization of $15.83 billion, a price-to-earnings ratio of 5.76, a PEG ratio of 2.59 and a beta of 0.63. The business has a 50 day moving average of $383.08 and a two-hundred day moving average of $380.51.
Insider Buying and Selling at Everest Group
In other Everest Group news, EVP Mike Karmilowicz sold 269 shares of the business's stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $348.48, for a total value 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director William F. Galtney, Jr. bought 2,870 shares of the company's stock in a transaction 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 completion of the purchase, the director now owns 32,822 shares in the company, valued at approximately $11,443,062.08. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Mike Karmilowicz sold 269 shares of the company's stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $348.48, for a total transaction 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. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.20% of the company's stock.
Wall Street Analyst Weigh In
EG has been the topic of several research analyst reports. TD Cowen cut their price objective on shares of Everest Group from $419.00 to $405.00 and set a "hold" rating on the stock in a research report on Tuesday, August 13th. BMO Capital Markets reaffirmed a "market perform" rating and issued a $403.00 price objective on shares of Everest Group in a research note on Friday, August 30th. Bank of America lowered their target price on shares of Everest Group from $496.00 to $485.00 and set a "buy" rating on the stock in a research report on Thursday, October 10th. Keefe, Bruyette & Woods decreased their price target on Everest Group from $454.00 to $438.00 and set an "outperform" rating for the company in a research note on Thursday, August 8th. Finally, Barclays lowered their price objective on Everest Group from $527.00 to $517.00 and set an "overweight" rating on the stock in a report on Thursday, October 31st. Five investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $438.00.
View Our Latest Stock Report on Everest Group
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.
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