Everest Group (NYSE:EG) Coverage Initiated by Analysts at Barclays

Barclays assumed coverage on shares of Everest Group (NYSE:EG) in a research report report published on Wednesday morning, Marketbeat reports. The firm issued an overweight rating and a $527.00 target price on the stock.

EG has been the topic of a number of other research reports. Wells Fargo & Company boosted their price target on Everest Group from $392.00 to $393.00 and gave the company an equal weight rating in a report on Monday, August 12th. TD Cowen dropped their price target on Everest Group from $419.00 to $405.00 and set a hold rating on the stock in a research report on Tuesday, August 13th. Morgan Stanley dropped their price target 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. BMO Capital Markets reaffirmed a market perform rating and issued a $403.00 price objective on shares of Everest Group in a research report on Friday, August 30th. Finally, Bank of America upped their price objective on Everest Group from $470.00 to $493.00 and gave the company a buy rating in a research report on Thursday, July 11th. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $439.00.

Everest Group Price Performance

Everest Group stock opened at $383.39 on Wednesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.38 and a current ratio of 0.38. Everest Group has a 52 week low of $343.76 and a 52 week high of $417.92. The stock has a market capitalization of $16.66 billion, a P/E ratio of 5.70, a price-to-earnings-growth ratio of 2.56 and a beta of 0.62. The stock has a fifty day moving average of $379.26 and a 200-day moving average of $378.82.

Everest Group (NYSE:EG) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $16.85 EPS for the quarter, missing analysts’ consensus estimates of $16.97 by ($0.12). Everest Group had a net margin of 18.36% and a return on equity of 24.09%. The business had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.32 billion. During the same period in the previous year, the business posted $15.21 earnings per share. The business’s revenue was up 15.8% compared to the same quarter last year. On average, sell-side analysts expect that Everest Group will post 61.76 earnings per share for the current fiscal year.

Everest Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Monday, September 16th will be paid a $2.00 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $8.00 annualized dividend and a dividend yield of 2.09%. Everest Group’s dividend payout ratio (DPR) is 11.89%.

Institutional Investors Weigh In On Everest Group

Several hedge funds and other institutional investors have recently modified their holdings of EG. Truist Financial Corp purchased a new stake in shares of Everest Group in the 4th quarter worth $450,000. Benjamin F. Edwards & Company Inc. purchased a new stake in Everest Group in the 4th quarter worth $35,000. M&T Bank Corp purchased a new stake in Everest Group in the 4th quarter worth $1,123,000. National Bank of Canada FI purchased a new stake in Everest Group in the 4th quarter worth $3,080,000. Finally, Metis Global Partners LLC purchased a new stake in Everest Group in the 4th quarter worth $496,000. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

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.