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

Everest Group (NYSE:EG - Free Report) had its price target trimmed by TD Cowen from $444.00 to $419.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a hold rating on the stock.

Several other equities analysts have also recently weighed in on the company. UBS Group raised Everest Group to a "hold" rating in a report on Wednesday, October 9th. Wells Fargo & Company lowered their target price on Everest Group from $406.00 to $402.00 and set an "equal weight" rating for the company in a report on Tuesday, November 5th. Keefe, Bruyette & Woods decreased their price objective on Everest Group from $454.00 to $438.00 and set an "outperform" rating for the company in a report on Thursday, August 8th. Bank of America dropped their price target 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. Finally, Barclays lowered their price objective on shares of Everest Group from $527.00 to $517.00 and set an "overweight" rating for the company in a research note on Thursday, October 31st. Five analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $436.45.

Everest Group Stock Performance

Shares of NYSE EG traded up $2.00 during mid-day trading on Monday, reaching $373.33. 234,407 shares of the company were exchanged, compared to its average volume of 348,588. The stock has a market capitalization of $16.05 billion, a P/E ratio of 5.84, a P/E/G ratio of 2.66 and a beta of 0.63. 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's 50-day simple moving average is $380.72 and its 200-day simple moving average is $380.70. Everest Group has a twelve month low of $343.76 and a twelve month high of $417.92.

Everest Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th will be paid a $2.00 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.14%. Everest Group's payout ratio is presently 12.52%.

Insider Activity at Everest Group

In other Everest Group news, 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 transaction of $74,000.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William F. Galtney, Jr. bought 2,870 shares of the stock in a transaction on Monday, November 4th. The stock was purchased at an average price of $348.64 per share, for a total transaction of $1,000,596.80. Following the completion of the purchase, the director now 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 company insiders.

Institutional Trading of Everest Group

A number of institutional investors have recently modified their holdings of EG. American National Bank purchased a new position in shares of Everest Group in the second quarter worth about $27,000. M&R Capital Management Inc. bought a new stake in Everest Group during the third quarter worth about $29,000. Bruce G. Allen Investments LLC grew its stake in shares of Everest Group by 200.0% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 78 shares of the company's stock worth $31,000 after buying an additional 52 shares during the last quarter. Eastern Bank bought a new position in shares of Everest Group during the third quarter valued at $35,000. Finally, Brooklyn Investment Group bought a new position in shares of Everest Group in the third quarter worth approximately $39,000. 92.64% of the stock is currently owned by hedge funds and other 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.