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

Everest Group, Ltd. (NYSE:EG) has received an average recommendation of “Moderate Buy” from the thirteen analysts that are covering the firm, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $397.1429.

A number of equities research analysts have recently weighed in on EG shares. Janney Montgomery Scott started coverage on shares of Everest Group in a research note on Friday, June 20th. They issued a “buy” rating and a $425.00 price target on the stock. Citigroup started coverage on shares of Everest Group in a research report on Wednesday, August 13th. They set a “neutral” rating and a $362.00 target price on the stock. Keefe, Bruyette & Woods lifted their target price on shares of Everest Group from $405.00 to $416.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 6th. Morgan Stanley lifted their target price on shares of Everest Group from $330.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Monday, May 19th. Finally, Wells Fargo & Company restated a “mixed” rating on shares of Everest Group in a report on Monday, August 4th.

Everest Group Price Performance

EG stock opened at $341.21 on Tuesday. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.24. Everest Group has a 12 month low of $320.00 and a 12 month high of $407.30. The firm has a market cap of $14.31 billion, a P/E ratio of 18.11, a P/E/G ratio of 0.25 and a beta of 0.50. The company’s 50-day moving average price is $335.46 and its two-hundred day moving average price is $343.46.

Everest Group (NYSE:EG) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $17.36 earnings per share for the quarter, beating analysts’ consensus estimates of $15.14 by $2.22. Everest Group had a net margin of 4.56% and a return on equity of 5.89%. The company had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $4.22 billion. During the same period last year, the company posted $16.85 EPS. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. On average, analysts anticipate that Everest Group will post 47.93 earnings per share for the current fiscal year.

Everest Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Wednesday, September 3rd will be issued a dividend of $2.00 per share. The ex-dividend date is Wednesday, September 3rd. This represents a $8.00 annualized dividend and a yield of 2.3%. Everest Group’s dividend payout ratio (DPR) is presently 42.46%.

Insider Transactions at Everest Group

In other news, CEO James Allan Williamson purchased 1,000 shares of the stock in a transaction on Wednesday, June 11th. The stock was purchased at an average price of $337.97 per share, for a total transaction of $337,970.00. Following the acquisition, the chief executive officer owned 25,618 shares in the company, valued at $8,658,115.46. This trade represents a 4.06% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.10% of the company’s stock.

Institutional Trading of Everest Group

Hedge funds have recently modified their holdings of the stock. Sunbelt Securities Inc. bought a new stake in shares of Everest Group in the 4th quarter valued at $29,000. SVB Wealth LLC bought a new stake in shares of Everest Group in the 1st quarter valued at $30,000. Tsfg LLC bought a new stake in shares of Everest Group in the 1st quarter valued at $33,000. Zions Bancorporation National Association UT bought a new stake in shares of Everest Group in the 1st quarter valued at $34,000. Finally, Board of the Pension Protection Fund bought a new stake in shares of Everest Group in the 2nd quarter valued at $34,000. 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.