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

Everest Group, Ltd. (NYSE:EG) announced a quarterly dividend on Thursday, November 7th,Wall Street Journal reports. Investors of record on Wednesday, November 27th will be paid a dividend of 2.00 per share on Friday, December 13th. This represents a $8.00 annualized dividend and a 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% annually 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 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 Stock Performance

EG opened at $368.30 on Friday. The firm’s fifty day simple moving average is $383.08 and its two-hundred day simple moving average is $380.43. Everest Group has a 52-week low of $343.76 and a 52-week high of $417.92. The company has a market cap 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 company has a quick ratio of 0.38, a current ratio of 0.40 and a debt-to-equity ratio of 0.22.

Wall Street Analyst Weigh In

Several equities research analysts have commented on EG shares. BMO Capital Markets reiterated a “market perform” rating and set a $403.00 price objective on shares of Everest Group in a research note on Friday, August 30th. Keefe, Bruyette & Woods reduced their price objective 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. 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 note on Thursday, October 10th. Barclays dropped 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. Finally, Wells Fargo & Company lowered 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 research report on Tuesday. Five 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 MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $438.00.

Insiders Place Their Bets

In other news, Director William F. Galtney, Jr. acquired 2,870 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was acquired at an average cost of $348.64 per share, with a total value of $1,000,596.80. Following the transaction, the director now owns 32,822 shares in the company, valued at approximately $11,443,062.08. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Everest Group news, Director William F. Galtney, Jr. bought 2,870 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were acquired at an average price of $348.64 per share, with a total value of $1,000,596.80. Following the transaction, the director now owns 32,822 shares of the company’s stock, valued at approximately $11,443,062.08. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Mike Karmilowicz sold 269 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $348.48, for a total transaction of $93,741.12. Following the completion of the transaction, the executive vice president now owns 12,726 shares in the company, valued at $4,434,756.48. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by company insiders.

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.