Everest Group (NYSE:EG) Price Target Raised to $457.00 at Jefferies Financial Group

Everest Group (NYSE:EG) had its target price increased by Jefferies Financial Group from $440.00 to $457.00 in a research report released on Wednesday, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other analysts have also recently commented on the stock. Barclays began coverage on shares of Everest Group in a research note on Wednesday, September 4th. They issued an overweight rating and a $527.00 target price for the company. Bank of America lifted their price objective on shares of Everest Group from $470.00 to $493.00 and gave the stock a buy rating in a research note on Thursday, July 11th. BMO Capital Markets reissued a market perform rating and issued a $403.00 target price on shares of Everest Group in a research report on Friday, August 30th. TD Cowen lowered their price target on Everest Group from $419.00 to $405.00 and set a hold rating for the company in a research report on Tuesday, August 13th. Finally, 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. Five investment 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 data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $439.27.

Everest Group Stock Up 0.0 %

NYSE:EG opened at $393.96 on Wednesday. The company’s 50-day simple moving average is $382.90 and its 200-day simple moving average is $380.63. 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 fifty-two week low of $343.76 and a fifty-two week high of $417.92. The stock has a market capitalization of $16.96 billion, a P/E ratio of 5.82, a P/E/G ratio of 2.70 and a beta of 0.61.

Everest Group (NYSE:EG) last announced its earnings results on Wednesday, July 31st. The company reported $16.85 earnings per share for the quarter, missing the consensus estimate of $16.97 by ($0.12). Everest Group had a net margin of 18.36% and a return on equity of 24.09%. The firm had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.32 billion. During the same quarter last year, the business earned $15.21 earnings per share. Everest Group’s revenue was up 15.8% on a year-over-year basis. On average, equities analysts anticipate that Everest Group will post 61.78 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Monday, September 16th were issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 2.03%. The ex-dividend date was Monday, September 16th. Everest Group’s dividend payout ratio (DPR) is 11.81%.

Institutional Trading of Everest Group

Hedge funds have recently added to or reduced their stakes in the company. American National Bank purchased a new stake in shares of Everest Group in the second quarter valued at approximately $27,000. M&R Capital Management Inc. acquired a new stake in Everest Group in the 3rd quarter valued at $29,000. Bruce G. Allen Investments LLC increased its holdings in Everest Group by 200.0% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 78 shares of the company’s stock worth $31,000 after acquiring an additional 52 shares in the last quarter. Massmutual Trust Co. FSB ADV acquired a new position in Everest Group during the first quarter worth $33,000. Finally, American National Bank & Trust lifted its holdings in Everest Group by 80.0% during the third quarter. American National Bank & Trust now owns 126 shares of the company’s stock valued at $49,000 after purchasing an additional 56 shares in the last quarter. 92.64% of the stock is 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.