Analysts Set Everest Group, Ltd. (NYSE:EG) PT at $397.18

Shares of Everest Group, Ltd. (NYSE:EG) have been assigned a consensus recommendation of “Moderate Buy” from the eleven analysts that are currently covering the stock, MarketBeat reports. Six analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $398.09.

A number of research analysts recently commented on the stock. Barclays lowered their price target on shares of Everest Group from $470.00 to $394.00 and set an “overweight” rating for the company in a report on Friday, April 11th. UBS Group lowered their price target on shares of Everest Group from $375.00 to $372.00 and set a “neutral” rating for the company in a report on Wednesday, April 9th. Raymond James reaffirmed a “strong-buy” rating and issued a $410.00 price target (down previously from $420.00) on shares of Everest Group in a report on Tuesday, May 6th. Jefferies Financial Group raised shares of Everest Group from a “hold” rating to a “buy” rating and raised their price objective for the stock from $376.00 to $415.00 in a research note on Friday, April 11th. Finally, Evercore ISI decreased their price objective on shares of Everest Group from $400.00 to $396.00 and set an “in-line” rating for the company in a research note on Thursday, May 1st.

Everest Group Stock Down 0.1%

EG opened at $347.35 on Friday. The firm has a 50-day simple moving average of $351.33 and a two-hundred day simple moving average of $356.72. Everest Group has a 52 week low of $320.00 and a 52 week high of $407.30. The company has a market capitalization of $14.77 billion, a PE ratio of 11.06, a price-to-earnings-growth ratio of 0.24 and a beta of 0.58. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.26.

Everest Group (NYSE:EG) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $6.45 EPS for the quarter, missing analysts’ consensus estimates of $7.46 by ($1.01). Everest Group had a net margin of 7.95% and a return on equity of 9.04%. The business had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same period in the previous year, the business posted $16.32 EPS. The firm’s revenue was up 3.1% on a year-over-year basis. Analysts forecast that Everest Group will post 47.93 earnings per share for the current fiscal year.

Everest Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Wednesday, May 28th will be paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend is Wednesday, May 28th. Everest Group’s dividend payout ratio is presently 41.15%.

Insider Activity

In other news, Director Geraldine Losquadro sold 1,500 shares of Everest Group stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $360.63, for a total transaction of $540,945.00. Following the completion of the sale, the director now owns 12,279 shares of the company’s stock, valued at approximately $4,428,175.77. The trade was a 10.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.10% of the company’s stock.

Institutional Trading of Everest Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Janney Montgomery Scott LLC increased its holdings in Everest Group by 152.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 22,693 shares of the company’s stock valued at $8,225,000 after buying an additional 13,687 shares during the period. JPMorgan Chase & Co. increased its holdings in Everest Group by 39.9% during the fourth quarter. JPMorgan Chase & Co. now owns 109,775 shares of the company’s stock valued at $39,789,000 after buying an additional 31,306 shares during the period. Commonwealth Equity Services LLC increased its holdings in Everest Group by 25.4% during the fourth quarter. Commonwealth Equity Services LLC now owns 12,055 shares of the company’s stock valued at $4,369,000 after buying an additional 2,438 shares during the period. Brandywine Global Investment Management LLC increased its holdings in Everest Group by 108.5% during the fourth quarter. Brandywine Global Investment Management LLC now owns 12,423 shares of the company’s stock valued at $4,503,000 after buying an additional 6,466 shares during the period. Finally, Atria Wealth Solutions Inc. purchased a new position in Everest Group during the fourth quarter valued at approximately $325,000. Institutional investors own 92.64% of the company’s stock.

About Everest Group

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.