Everest Group (NYSE:EG) Releases Quarterly Earnings Results, Misses Expectations By $30.03 EPS

Everest Group (NYSE:EG) issued its quarterly earnings results on Monday. The company reported ($18.39) EPS for the quarter, missing analysts’ consensus estimates of $11.64 by ($30.03), Zacks reports. Everest Group had a return on equity of 22.45% and a net margin of 16.99%.

Everest Group Stock Performance

Shares of EG stock opened at $341.72 on Wednesday. The business’s 50-day moving average price is $363.53 and its 200-day moving average price is $374.38. Everest Group has a 12 month low of $336.49 and a 12 month high of $407.30. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $14.69 billion, a price-to-earnings ratio of 5.35, a PEG ratio of 2.50 and a beta of 0.65.

Everest Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th were given a $2.00 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $8.00 annualized dividend and a yield of 2.34%. Everest Group’s dividend payout ratio is presently 12.52%.

Insider Activity at Everest Group

In related news, COO James Allan Williamson sold 200 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $370.00, for a total value of $74,000.00. Following the completion of the sale, the chief operating officer now directly owns 15,009 shares in the company, valued at $5,553,330. This represents a 1.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. UBS Group raised shares of Everest Group to a “hold” rating in a report on Wednesday, October 9th. BMO Capital Markets cut shares of Everest Group from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $453.00 to $375.00 in a research note on Thursday, January 30th. Jefferies Financial Group cut Everest Group from a “buy” rating to a “hold” rating and upped their target price for the stock from $420.00 to $429.00 in a research note on Tuesday, November 26th. Barclays lifted their price target on Everest Group from $461.00 to $470.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Bank of America dropped their price objective on Everest Group from $496.00 to $485.00 and set a “buy” rating for the company in a research report on Thursday, October 10th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $423.56.

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.