Everest Group (NYSE:EG) Issues Earnings Results, Beats Estimates By $0.34 EPS

Everest Group (NYSE:EG) released its quarterly earnings data on Monday. The company reported $16.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $15.98 by $0.34, Briefing.com reports. The business had revenue of $4.13 billion for the quarter, compared to analysts’ expectations of $4.05 billion. Everest Group had a return on equity of 25.05% and a net margin of 17.26%. The firm’s quarterly revenue was up 25.8% on a year-over-year basis. During the same period in the prior year, the firm posted $11.31 EPS.

Everest Group Stock Performance

Everest Group stock traded down $10.29 during trading on Tuesday, reaching $358.82. The company had a trading volume of 97,187 shares, compared to its average volume of 364,900. The firm’s 50-day simple moving average is $375.85 and its 200 day simple moving average is $379.41. Everest Group has a 52 week low of $331.08 and a 52 week high of $417.92. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $19.11 billion, a price-to-earnings ratio of 6.18, a price-to-earnings-growth ratio of 3.22 and a beta of 0.56.

Everest Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Tuesday, March 19th were paid a $1.75 dividend. The ex-dividend date of this dividend was Monday, March 18th. This represents a $7.00 annualized dividend and a dividend yield of 1.95%. Everest Group’s dividend payout ratio (DPR) is 11.72%.

Insiders Place Their Bets

In other news, COO James Allan Williamson bought 700 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were bought at an average price of $352.50 per share, for a total transaction of $246,750.00. Following the purchase, the chief operating officer now owns 11,749 shares in the company, valued at $4,141,522.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Everest Group news, COO James Allan Williamson purchased 700 shares of the business’s stock in a transaction on Friday, February 9th. The stock was acquired at an average price of $352.50 per share, for a total transaction of $246,750.00. Following the purchase, the chief operating officer now owns 11,749 shares of the company’s stock, valued at approximately $4,141,522.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Roger M. Singer bought 500 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were acquired at an average price of $357.21 per share, with a total value of $178,605.00. Following the transaction, the director now directly owns 16,920 shares of the company’s stock, valued at approximately $6,043,993.20. The disclosure for this purchase can be found here. Insiders purchased a total of 2,485 shares of company stock worth $874,786 over the last quarter. 1.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

EG has been the subject of several recent analyst reports. Keefe, Bruyette & Woods boosted their price target on Everest Group from $445.00 to $457.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Morgan Stanley lowered their target price on shares of Everest Group from $466.00 to $450.00 and set an “overweight” rating on the stock in a research note on Monday, April 15th. Citigroup lowered shares of Everest Group from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $452.00 to $375.00 in a research note on Monday, February 12th. TD Cowen started coverage on shares of Everest Group in a report on Wednesday, January 10th. They issued a “market perform” rating and a $421.00 target price on the stock. Finally, Wells Fargo & Company cut their target price on shares of Everest Group from $402.00 to $397.00 and set an “equal weight” rating for the company in a research report on Thursday, April 11th. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Everest Group currently has a consensus rating of “Moderate Buy” and an average price target of $432.11.

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.