Everest Group, Ltd. (EG) To Go Ex-Dividend on September 16th

Everest Group, Ltd. (NYSE:EG) declared a quarterly dividend on Wednesday, August 7th, Wall Street Journal reports. Stockholders of record on Monday, September 16th will be given a dividend of 2.00 per share on Friday, September 27th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date is Monday, September 16th.

Everest Group has raised its dividend payment by an average of 3.1% annually over the last three years. Everest Group has a payout ratio of 11.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Everest Group to earn $68.50 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 11.7%.

Everest Group Stock Up 1.0 %

Shares of NYSE:EG opened at $382.75 on Friday. Everest Group has a 1 year low of $343.76 and a 1 year high of $417.92. The stock has a 50-day simple moving average of $380.58 and a 200-day simple moving average of $379.22. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.38 and a current ratio of 0.38. The stock has a market capitalization of $16.63 billion, a P/E ratio of 5.69, a PEG ratio of 2.46 and a beta of 0.62.

Everest Group (NYSE:EG) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $16.85 earnings per share for the quarter, missing analysts’ consensus estimates of $16.97 by ($0.12). Everest Group had a return on equity of 24.09% and a net margin of 18.36%. The business had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.32 billion. During the same period last year, the company posted $15.21 earnings per share. The firm’s revenue for the quarter was up 15.8% on a year-over-year basis. Equities analysts forecast that Everest Group will post 61.66 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Bank of America boosted their target price on shares of Everest Group from $470.00 to $493.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Morgan Stanley lowered their target price on Everest Group from $450.00 to $445.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. Keefe, Bruyette & Woods cut 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. Wells Fargo & Company raised their price objective on Everest Group from $392.00 to $393.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Finally, BMO Capital Markets restated a “market perform” rating and set a $403.00 price objective on shares of Everest Group in a report on Friday, August 30th. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $438.09.

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.