Everest Group, Ltd. (NYSE:EG) Receives $437.40 Consensus PT from Brokerages

Everest Group, Ltd. (NYSE:EG) has received an average recommendation of “Moderate Buy” from the eight research firms that are presently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $437.40.

EG has been the topic of several recent research reports. Keefe, Bruyette & Woods lowered their price target on shares of Everest Group from $457.00 to $454.00 and set an “outperform” rating on the stock in a research report on Friday, July 12th. Bank of America boosted their price target on shares of Everest Group from $470.00 to $493.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Morgan Stanley lowered their price target on shares of 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 lowered their price target on shares of 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.

Everest Group Trading Up 2.5 %

Shares of EG opened at $382.93 on Monday. Everest Group has a 52-week low of $343.36 and a 52-week high of $417.92. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.25. The firm’s fifty day moving average is $381.95 and its two-hundred day moving average is $377.66. The stock has a market cap of $16.64 billion, a PE ratio of 5.69, a price-to-earnings-growth ratio of 1.98 and a beta of 0.63.

Everest Group (NYSE:EG) last announced its quarterly earnings results on Monday, April 29th. The company reported $16.32 earnings per share for the quarter, beating the consensus estimate of $15.98 by $0.34. The firm had revenue of $4.13 billion for the quarter, compared to analysts’ expectations of $4.05 billion. Everest Group had a net margin of 18.69% and a return on equity of 24.86%. The company’s revenue was up 25.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $11.31 EPS. Research analysts forecast that Everest Group will post 61.25 earnings per share for the current fiscal year.

Everest Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Wednesday, May 29th were paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.09%. This is a positive change from Everest Group’s previous quarterly dividend of $1.75. The ex-dividend date of this dividend was Wednesday, May 29th. Everest Group’s dividend payout ratio is presently 11.89%.

Institutional Trading of Everest Group

Large investors have recently made changes to their positions in the company. Csenge Advisory Group boosted its holdings in Everest Group by 2.2% in the second quarter. Csenge Advisory Group now owns 1,239 shares of the company’s stock valued at $472,000 after purchasing an additional 27 shares in the last quarter. Legend Financial Advisors Inc. boosted its holdings in Everest Group by 1.6% in the second quarter. Legend Financial Advisors Inc. now owns 1,765 shares of the company’s stock valued at $672,000 after purchasing an additional 27 shares in the last quarter. First Trust Direct Indexing L.P. boosted its holdings in Everest Group by 0.9% in the first quarter. First Trust Direct Indexing L.P. now owns 2,976 shares of the company’s stock valued at $1,183,000 after purchasing an additional 28 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its holdings in Everest Group by 36.9% in the second quarter. Massmutual Trust Co. FSB ADV now owns 115 shares of the company’s stock valued at $44,000 after purchasing an additional 31 shares in the last quarter. Finally, Capital Insight Partners LLC boosted its holdings in Everest Group by 2.5% in the second quarter. Capital Insight Partners LLC now owns 1,856 shares of the company’s stock valued at $707,000 after purchasing an additional 45 shares in the last quarter. 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.