Everest Group, Ltd. (NYSE:EG) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Everest Group, Ltd. (NYSE:EG) has been given a consensus recommendation of “Moderate Buy” by the seven research firms that are presently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $432.11.

Several brokerages have issued reports on EG. TD Cowen started coverage on shares of Everest Group in a report on Wednesday, January 10th. They issued a “market perform” rating and a $421.00 target price for the company. Wells Fargo & Company decreased their price objective on shares of Everest Group from $402.00 to $397.00 and set an “equal weight” rating for the company in a report on Thursday, April 11th. Citigroup downgraded Everest Group from a “buy” rating to a “neutral” rating and cut their target price for the company from $452.00 to $375.00 in a research note on Monday, February 12th. Keefe, Bruyette & Woods boosted their price target on Everest Group from $445.00 to $457.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Finally, Morgan Stanley dropped their price objective on Everest Group from $466.00 to $450.00 and set an “overweight” rating on the stock in a research report on Monday, April 15th.

Insider Buying and Selling

In other news, CEO Mike Karmilowicz purchased 285 shares of the business’s stock in a transaction on Friday, February 9th. The stock was acquired at an average cost of $352.39 per share, for a total transaction of $100,431.15. Following the purchase, the chief executive officer now directly owns 10,586 shares in the company, valued at approximately $3,730,400.54. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Everest Group news, CFO Mark Kociancic purchased 1,000 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were acquired at an average price of $349.00 per share, for a total transaction of $349,000.00. Following the purchase, the chief financial officer now directly owns 25,733 shares of the company’s stock, valued at approximately $8,980,817. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Mike Karmilowicz acquired 285 shares of Everest Group stock in a transaction dated Friday, February 9th. The stock was bought at an average price of $352.39 per share, with a total value of $100,431.15. Following the completion of the purchase, the chief executive officer now directly owns 10,586 shares in the company, valued at $3,730,400.54. The disclosure for this purchase can be found here. Insiders bought 2,485 shares of company stock valued at $874,786 over the last 90 days. Company insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Everest Group

Several institutional investors and hedge funds have recently bought and sold shares of EG. Allworth Financial LP purchased a new position in shares of Everest Group during the 4th quarter valued at about $25,000. Avior Wealth Management LLC purchased a new position in Everest Group during the fourth quarter valued at approximately $25,000. Headlands Technologies LLC bought a new position in shares of Everest Group in the fourth quarter worth approximately $25,000. Janiczek Wealth Management LLC purchased a new stake in shares of Everest Group in the fourth quarter worth $27,000. Finally, Trifecta Capital Advisors LLC bought a new stake in shares of Everest Group during the 4th quarter valued at $28,000. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Everest Group Stock Down 0.1 %

Shares of NYSE:EG opened at $378.75 on Wednesday. The company has a current ratio of 0.35, a quick ratio of 0.37 and a debt-to-equity ratio of 0.25. The stock has a fifty day simple moving average of $376.48 and a two-hundred day simple moving average of $377.96. Everest Group has a 12-month low of $331.08 and a 12-month high of $417.92. The stock has a market capitalization of $20.17 billion, a price-to-earnings ratio of 5.63, a PEG ratio of 3.25 and a beta of 0.57.

Everest Group (NYSE:EG) last issued its quarterly earnings results on Monday, April 29th. The company reported $16.32 earnings per share for the quarter, beating the consensus estimate of $15.98 by $0.34. The firm had revenue of $4.13 billion during the quarter, compared to the consensus estimate of $4.05 billion. Everest Group had a return on equity of 24.86% and a net margin of 18.69%. The company’s revenue was up 25.8% on a year-over-year basis. During the same period last year, the company earned $11.31 earnings per share. On average, research analysts anticipate that Everest Group will post 61.49 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Tuesday, March 19th were issued a dividend of $1.75 per share. The ex-dividend date of this dividend was Monday, March 18th. This represents a $7.00 annualized dividend and a dividend yield of 1.85%. Everest Group’s payout ratio is 10.40%.

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.