Everest Group, Ltd. (NYSE:EG) Receives Average Rating of “Hold” from Brokerages

Everest Group, Ltd. (NYSE:EG) has earned a consensus rating of “Hold” from the fifteen brokerages that are covering the firm, MarketBeat Ratings reports. Ten analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $368.7692.

A number of research analysts have weighed in on EG shares. Wall Street Zen cut shares of Everest Group from a “buy” rating to a “hold” rating in a research note on Sunday, November 2nd. Cantor Fitzgerald raised shares of Everest Group to a “hold” rating in a report on Wednesday, August 13th. Evercore ISI increased their price objective on Everest Group from $380.00 to $384.00 and gave the company an “in-line” rating in a report on Wednesday, October 1st. Weiss Ratings reissued a “hold (c)” rating on shares of Everest Group in a research report on Wednesday, October 8th. Finally, Cowen reaffirmed a “hold” rating on shares of Everest Group in a research report on Tuesday, October 7th.

Insider Activity

In other Everest Group news, Director Allan Levine purchased 3,100 shares of the stock in a transaction dated Wednesday, October 29th. The shares were bought at an average price of $306.08 per share, with a total value of $948,848.00. Following the completion of the transaction, the director directly owned 4,153 shares in the company, valued at approximately $1,271,150.24. This trade represents a 294.40% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William F. Galtney, Jr. acquired 11,385 shares of Everest Group stock in a transaction that occurred on Wednesday, October 29th. The stock was acquired at an average price of $307.38 per share, with a total value of $3,499,521.30. Following the completion of the purchase, the director directly owned 45,491 shares in the company, valued at $13,983,023.58. This represents a 33.38% increase in their position. The SEC filing for this purchase provides additional information. 1.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Allworth Financial LP grew its holdings in Everest Group by 373.2% during the 3rd quarter. Allworth Financial LP now owns 866 shares of the company’s stock valued at $303,000 after buying an additional 683 shares in the last quarter. IFP Advisors Inc boosted its position in shares of Everest Group by 48.5% in the third quarter. IFP Advisors Inc now owns 291 shares of the company’s stock valued at $102,000 after acquiring an additional 95 shares during the period. Swiss Life Asset Management Ltd grew its stake in Everest Group by 36.2% during the third quarter. Swiss Life Asset Management Ltd now owns 7,649 shares of the company’s stock valued at $2,679,000 after acquiring an additional 2,034 shares in the last quarter. CIBC Private Wealth Group LLC increased its holdings in Everest Group by 14.4% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,961 shares of the company’s stock worth $1,037,000 after acquiring an additional 373 shares during the period. Finally, CIBC Bancorp USA Inc. purchased a new stake in Everest Group in the 3rd quarter worth approximately $2,034,000. Institutional investors own 92.64% of the company’s stock.

Everest Group Stock Up 0.5%

Shares of NYSE:EG opened at $313.78 on Thursday. Everest Group has a 1 year low of $302.44 and a 1 year high of $386.05. The company has a market capitalization of $13.17 billion, a PE ratio of 23.90, a price-to-earnings-growth ratio of 0.27 and a beta of 0.39. The business has a fifty day moving average price of $332.23 and a two-hundred day moving average price of $336.10. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.39 and a quick ratio of 0.39.

Everest Group (NYSE:EG) last issued its quarterly earnings results on Monday, October 27th. The company reported $7.54 earnings per share for the quarter, missing analysts’ consensus estimates of $13.39 by ($5.85). The company had revenue of $4.32 billion during the quarter, compared to analysts’ expectations of $3.86 billion. Everest Group had a return on equity of 3.74% and a net margin of 3.12%.Everest Group’s quarterly revenue was up .8% compared to the same quarter last year. During the same period last year, the firm posted $11.80 earnings per share. Analysts forecast that Everest Group will post 47.93 earnings per share for the current year.

Everest Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Wednesday, November 26th will be given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Wednesday, November 26th. Everest Group’s dividend payout ratio (DPR) is currently 60.93%.

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.