Everest Group (NYSE:EG) Earns Neutral Rating from Analysts at Mizuho

Mizuho started coverage on shares of Everest Group (NYSE:EG) in a report issued on Monday morning, Marketbeat reports. The firm issued a neutral rating and a $359.00 target price on the stock.

A number of other research firms have also recently weighed in on EG. Wall Street Zen cut Everest Group from a “buy” rating to a “hold” rating in a research note on Sunday, November 2nd. TD Cowen dropped their price objective on shares of Everest Group from $400.00 to $365.00 and set a “hold” rating on the stock in a research report on Monday. Evercore ISI raised their target price on shares of Everest Group from $380.00 to $384.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Everest Group in a report on Wednesday, October 8th. Finally, Zacks Research cut shares of Everest Group from a “hold” rating to a “strong sell” rating in a report on Friday, December 12th. Five research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $367.87.

Everest Group Stock Up 0.3%

Everest Group stock opened at $328.41 on Monday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.39 and a quick ratio of 0.39. The company’s 50-day moving average is $325.34 and its 200-day moving average is $334.56. The firm has a market capitalization of $13.79 billion, a PE ratio of 25.01, a P/E/G ratio of 0.29 and a beta of 0.39. Everest Group has a fifty-two week low of $302.44 and a fifty-two week high of $373.23.

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

Everest Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Wednesday, November 26th were issued a $2.00 dividend. The ex-dividend date of this dividend was Wednesday, November 26th. This represents a $8.00 dividend on an annualized basis and a yield of 2.4%. Everest Group’s payout ratio is currently 60.93%.

Insider Buying and Selling

In related news, Director William F. Galtney, Jr. acquired 11,385 shares of the stock in a transaction on Wednesday, October 29th. The shares were purchased at an average price of $307.38 per share, for a total transaction of $3,499,521.30. Following the purchase, the director directly owned 45,491 shares in the company, valued at approximately $13,983,023.58. The trade was a 33.38% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Allan Levine acquired 3,100 shares of the company’s stock in a transaction on Wednesday, October 29th. The stock was bought at an average cost of $306.08 per share, with a total value of $948,848.00. Following the completion of the acquisition, the director directly owned 4,153 shares in the company, valued at approximately $1,271,150.24. This represents a 294.40% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 1.10% of the stock is currently owned by insiders.

Institutional Trading of Everest Group

Several large investors have recently modified their holdings of the stock. SVB Wealth LLC bought a new stake in Everest Group during the first quarter worth about $30,000. Root Financial Partners LLC acquired a new position in shares of Everest Group in the 3rd quarter valued at approximately $30,000. Board of the Pension Protection Fund bought a new stake in shares of Everest Group during the 2nd quarter worth approximately $34,000. WPG Advisers LLC bought a new stake in shares of Everest Group during the 1st quarter worth approximately $37,000. Finally, UMB Bank n.a. boosted its position in shares of Everest Group by 81.4% during the 3rd quarter. UMB Bank n.a. now owns 107 shares of the company’s stock worth $37,000 after acquiring an additional 48 shares in the last quarter. 92.64% of the stock is owned by institutional investors and hedge funds.

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.