Everest Group, Ltd. (NYSE:EG) Receives $438.09 Consensus Target Price from Brokerages

Shares of Everest Group, Ltd. (NYSE:EG) have received a consensus recommendation of “Moderate Buy” from the eleven analysts that are covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $439.27.

A number of equities analysts recently weighed in on EG shares. BMO Capital Markets restated a “market perform” rating and issued a $403.00 price objective on shares of Everest Group in a report on Friday, August 30th. Barclays started coverage on shares of Everest Group in a report on Wednesday, September 4th. They issued an “overweight” rating and a $527.00 price objective for the company. Jefferies Financial Group boosted their price objective on shares of Everest Group from $440.00 to $457.00 and gave the stock a “buy” rating in a report on Wednesday. Morgan Stanley decreased their price objective on shares of Everest Group from $450.00 to $445.00 and set an “overweight” rating for the company in a report on Wednesday, July 10th. Finally, UBS Group upgraded shares of Everest Group to a “hold” rating in a report on Wednesday.

Everest Group Price Performance

EG stock opened at $393.96 on Friday. The firm has a 50 day moving average price of $382.90 and a 200-day moving average price of $380.69. Everest Group has a 52-week low of $343.76 and a 52-week high of $417.92. The firm has a market capitalization of $16.96 billion, a price-to-earnings ratio of 5.82, a PEG ratio of 2.70 and a beta of 0.61. 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 (NYSE:EG) last released its earnings results on Wednesday, July 31st. The company reported $16.85 earnings per share (EPS) 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 business had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.32 billion. During the same quarter in the previous year, the business posted $15.21 earnings per share. Everest Group’s revenue for the quarter was up 15.8% on a year-over-year basis. Equities research analysts forecast that Everest Group will post 61.78 EPS for the current fiscal year.

Everest Group Announces Dividend

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

Institutional Trading of Everest Group

Large investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC bought a new stake in Everest Group during the fourth quarter valued at approximately $2,372,000. SG Americas Securities LLC boosted its position in shares of Everest Group by 284.8% in the third quarter. SG Americas Securities LLC now owns 24,556 shares of the company’s stock worth $9,622,000 after purchasing an additional 18,175 shares during the period. Perpetual Ltd boosted its position in shares of Everest Group by 92.0% in the first quarter. Perpetual Ltd now owns 4,724 shares of the company’s stock worth $1,878,000 after purchasing an additional 2,264 shares during the period. Diversified Trust Co bought a new position in shares of Everest Group in the first quarter worth approximately $1,621,000. Finally, Gilman Hill Asset Management LLC bought a new position in shares of Everest Group in the first quarter worth approximately $2,600,000. 92.64% of the stock is currently owned by 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.