Everest Group, Ltd. (EG) To Go Ex-Dividend on November 27th

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

Everest Group has increased its dividend payment by an average of 3.1% per year 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 Stock Up 1.0 %

EG opened at $389.00 on Monday. The stock’s fifty day moving average is $380.77 and its 200-day moving average is $380.80. Everest Group has a one year low of $343.76 and a one year high of $417.92. The company has a market capitalization of $16.72 billion, a PE ratio of 6.09, a P/E/G ratio of 2.88 and a beta of 0.63. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.40 and a current ratio of 0.40.

Insider Buying and Selling

In related news, COO James Allan Williamson sold 200 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $370.00, for a total transaction of $74,000.00. Following the completion of the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William F. Galtney, Jr. bought 2,870 shares of the company’s stock in a transaction that occurred 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 acquisition, the director now directly owns 32,822 shares in the company, 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 corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on EG. Barclays reduced their target price on shares of Everest Group from $527.00 to $517.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Keefe, Bruyette & Woods dropped their price target on Everest Group from $454.00 to $438.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Jefferies Financial Group raised their target price on shares of Everest Group from $440.00 to $457.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Wells Fargo & Company cut their price target on shares of Everest Group from $406.00 to $402.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 5th. Finally, TD Cowen reduced their target price on Everest Group from $444.00 to $419.00 and set a “hold” rating for the company in a report on Monday, November 18th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Everest Group presently has an average rating of “Moderate Buy” and a consensus target price of $434.10.

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.