Brokerages Set Everest Group, Ltd. (NYSE:EG) Price Target at $389.80

Everest Group, Ltd. (NYSE:EG) has been assigned an average recommendation of “Hold” from the fourteen research firms that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $387.4667.

Several equities research analysts recently issued reports on EG shares. Citigroup started coverage on shares of Everest Group in a research note on Wednesday, August 13th. They issued a “neutral” rating and a $362.00 price objective for the company. Wells Fargo & Company reaffirmed a “mixed” rating on shares of Everest Group in a research note on Monday, August 4th. 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 objective for the company. UBS Group reduced their price objective on shares of Everest Group from $372.00 to $370.00 and set a “neutral” rating for the company in a research note on Wednesday, July 9th. Finally, Barclays lifted their price objective on shares of Everest Group from $394.00 to $398.00 and gave the company an “overweight” rating in a research note on Monday, July 7th.

Everest Group Trading Up 0.1%

Shares of NYSE:EG opened at $335.59 on Friday. The firm has a fifty day moving average of $336.61 and a two-hundred day moving average of $342.99. The firm has a market capitalization of $14.07 billion, a P/E ratio of 17.81, a price-to-earnings-growth ratio of 0.25 and a beta of 0.51. Everest Group has a 12-month low of $320.00 and a 12-month high of $407.30. 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 (NYSE:EG) last issued its earnings results on Wednesday, July 30th. The company reported $17.36 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $4.22 billion. During the same quarter last year, the business posted $16.85 EPS. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, equities analysts expect that Everest Group will post 47.93 EPS for the current fiscal year.

Everest Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Wednesday, September 3rd were given a dividend of $2.00 per share. The ex-dividend date of this dividend was Wednesday, September 3rd. This represents a $8.00 dividend on an annualized basis and a yield of 2.4%. Everest Group’s payout ratio is currently 42.46%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Flagship Harbor Advisors LLC lifted its position in Everest Group by 3.7% during the 1st quarter. Flagship Harbor Advisors LLC now owns 843 shares of the company’s stock worth $306,000 after acquiring an additional 30 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. lifted its position in Everest Group by 3.0% during the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 1,025 shares of the company’s stock worth $372,000 after acquiring an additional 30 shares during the last quarter. Legacy Advisors LLC lifted its position in Everest Group by 5.5% during the 1st quarter. Legacy Advisors LLC now owns 599 shares of the company’s stock worth $218,000 after acquiring an additional 31 shares during the last quarter. Farther Finance Advisors LLC lifted its position in Everest Group by 4.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 816 shares of the company’s stock worth $277,000 after acquiring an additional 34 shares during the last quarter. Finally, Vontobel Holding Ltd. lifted its position in Everest Group by 2.1% during the 1st quarter. Vontobel Holding Ltd. now owns 1,781 shares of the company’s stock worth $647,000 after acquiring an additional 36 shares during the last quarter. Institutional investors and hedge funds 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.