Everest Group (NYSE:EG) PT Lowered to $454.00 at Keefe, Bruyette & Woods

Everest Group (NYSE:EG) had its price target decreased by Keefe, Bruyette & Woods from $457.00 to $454.00 in a research report released on Friday, Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the stock.

A number of other brokerages have also issued reports on EG. Bank of America lifted their target price on Everest Group from $470.00 to $493.00 and gave the stock a buy rating in a research report on Thursday. Morgan Stanley dropped their target price on Everest Group from $450.00 to $445.00 and set an overweight rating on the stock in a research report on Wednesday, July 10th. Finally, Wells Fargo & Company dropped their target price on Everest Group from $402.00 to $397.00 and set an equal weight rating on the stock in a research report on Thursday, April 11th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $437.40.

Everest Group Trading Up 0.5 %

NYSE:EG opened at $381.64 on Friday. The business’s 50-day moving average is $380.59 and its two-hundred day moving average is $375.91. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.38 and a quick ratio of 0.38. Everest Group has a 12 month low of $343.36 and a 12 month high of $417.92. The firm has a market capitalization of $16.59 billion, a PE ratio of 5.67, a price-to-earnings-growth ratio of 2.19 and a beta of 0.63.

Everest Group (NYSE:EG) last announced its earnings results on Monday, April 29th. The company reported $16.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $15.98 by $0.34. Everest Group had a return on equity of 24.86% and a net margin of 18.69%. The business had revenue of $4.13 billion for the quarter, compared to analyst estimates of $4.05 billion. During the same period in the previous year, the company earned $11.31 earnings per share. The company’s revenue for the quarter was up 25.8% compared to the same quarter last year. Research analysts predict that Everest Group will post 61.49 earnings per share for the current fiscal year.

Everest Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Wednesday, May 29th were paid a $2.00 dividend. This is an increase from Everest Group’s previous quarterly dividend of $1.75. This represents a $8.00 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date was Wednesday, May 29th. Everest Group’s payout ratio is presently 11.89%.

Hedge Funds Weigh In On Everest Group

A number of hedge funds and other institutional investors have recently bought and sold shares of EG. Assenagon Asset Management S.A. acquired a new position in Everest Group in the fourth quarter valued at approximately $1,866,000. Red Door Wealth Management LLC acquired a new position in Everest Group in the fourth quarter valued at approximately $237,000. Uncommon Cents Investing LLC acquired a new position in Everest Group in the fourth quarter valued at approximately $1,016,000. Traynor Capital Management Inc. acquired a new position in Everest Group in the fourth quarter valued at approximately $466,000. Finally, Global Retirement Partners LLC acquired a new position in Everest Group in the fourth quarter valued at approximately $102,000. 92.64% of the stock is currently owned by institutional investors and hedge funds.

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.