Everest Group, Ltd. (NYSE:EG) Receives $398.09 Consensus Target Price from Brokerages

Everest Group, Ltd. (NYSE:EG) has been given an average recommendation of “Moderate Buy” by the eleven analysts that are covering the stock, MarketBeat reports. Six equities research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $398.09.

Several equities research analysts have recently weighed in on EG shares. Morgan Stanley increased their price target on Everest Group from $330.00 to $350.00 and gave the company an “equal weight” rating in a research note on Monday, May 19th. Evercore ISI decreased their target price on shares of Everest Group from $400.00 to $396.00 and set an “in-line” rating for the company in a research report on Thursday, May 1st. Raymond James reissued a “strong-buy” rating and set a $410.00 target price (down previously from $420.00) on shares of Everest Group in a research report on Tuesday, May 6th. Wells Fargo & Company decreased their price objective on shares of Everest Group from $362.00 to $361.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 6th. Finally, Jefferies Financial Group upgraded shares of Everest Group from a “hold” rating to a “buy” rating and increased their price objective for the stock from $376.00 to $415.00 in a research report on Friday, April 11th.

Everest Group Stock Up 1.3%

EG stock opened at $338.88 on Thursday. Everest Group has a 1-year low of $320.00 and a 1-year high of $407.30. The firm has a market capitalization of $14.41 billion, a PE ratio of 10.79, a PEG ratio of 0.24 and a beta of 0.53. The business’s 50 day simple moving average is $346.05 and its 200 day simple moving average is $352.22. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.26.

Everest Group (NYSE:EG) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $6.45 EPS for the quarter, missing analysts’ consensus estimates of $7.46 by ($1.01). Everest Group had a return on equity of 9.04% and a net margin of 7.95%. The company had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter in the previous year, the business posted $16.32 EPS. The firm’s revenue for the quarter was up 3.1% on a year-over-year basis. As a group, research analysts anticipate that Everest Group will post 47.93 EPS for the current year.

Everest Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Wednesday, May 28th were issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date was Wednesday, May 28th. Everest Group’s payout ratio is 41.15%.

Insider Activity at Everest Group

In other Everest Group news, CEO James Allan Williamson purchased 1,000 shares of the stock in a transaction that occurred on Wednesday, June 11th. The shares were bought at an average cost of $337.97 per share, with a total value of $337,970.00. Following the acquisition, the chief executive officer now owns 25,618 shares in the company, valued at approximately $8,658,115.46. This trade represents a 4.06% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.10% of the stock is owned by company insiders.

Institutional Trading of Everest Group

Hedge funds have recently made changes to their positions in the business. Flagship Harbor Advisors LLC increased its position in shares of Everest Group by 3.7% during the first 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 period. Banco Bilbao Vizcaya Argentaria S.A. increased its position in shares of Everest Group by 3.0% during the first 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 period. Legacy Advisors LLC increased its holdings 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 purchasing an additional 31 shares during the period. Wilmington Savings Fund Society FSB increased its holdings in Everest Group by 19.6% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 195 shares of the company’s stock worth $71,000 after purchasing an additional 32 shares during the period. Finally, Lester Murray Antman dba SimplyRich increased its holdings in Everest Group by 2.7% during the 4th quarter. Lester Murray Antman dba SimplyRich now owns 1,328 shares of the company’s stock worth $481,000 after purchasing an additional 35 shares during the period. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

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.