Everest Group, Ltd. Declares Quarterly Dividend of $2.00 (NYSE:EG)

Everest Group, Ltd. (NYSE:EG) announced a quarterly dividend on Thursday, November 7th,Wall Street Journal reports. Stockholders 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 annualized dividend and a dividend yield of 2.06%. The ex-dividend date is Wednesday, November 27th.

Everest Group has increased its dividend payment by an average of 3.1% annually over the last three years. Everest Group has a dividend payout ratio of 12.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Everest Group to earn $66.77 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 12.0%.

Everest Group Price Performance

Everest Group stock opened at $389.00 on Monday. The business’s fifty day moving average is $380.77 and its two-hundred day moving average is $380.80. 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 firm has a market cap of $16.72 billion, a P/E ratio of 6.09, a P/E/G ratio of 2.88 and a beta of 0.63. Everest Group has a 52 week low of $343.76 and a 52 week high of $417.92.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Jefferies Financial Group raised their price objective on shares of Everest Group from $440.00 to $457.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Bank of America reduced their price objective on Everest Group from $496.00 to $485.00 and set a “buy” rating on the stock in a report on Thursday, October 10th. TD Cowen decreased their price objective on Everest Group from $444.00 to $419.00 and set a “hold” rating on the stock in a research report on Monday, November 18th. Barclays dropped their target price on Everest Group from $527.00 to $517.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Finally, Wells Fargo & Company decreased their price target on Everest Group from $406.00 to $402.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 5th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $434.10.

Insider Buying and Selling at Everest Group

In other news, COO James Allan Williamson sold 200 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $370.00, for a total value of $74,000.00. Following the completion of the transaction, the chief operating officer now owns 15,009 shares in the company, valued at $5,553,330. This represents a 1.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William F. Galtney, Jr. acquired 2,870 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were bought at an average price of $348.64 per share, for a total transaction of $1,000,596.80. Following the completion of the acquisition, the director now owns 32,822 shares of the company’s stock, valued at $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. Insiders own 1.20% of the company’s stock.

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.