Brokerages Set Everest Group, Ltd. (NYSE:EG) Price Target at $397.14

Everest Group, Ltd. (NYSE:EG) has been assigned a consensus rating of “Moderate Buy” from the thirteen brokerages that are currently covering the company, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $397.1429.

EG has been the topic of a number of recent research reports. Citigroup assumed 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 on the stock. Barclays upped their price objective on Everest Group from $394.00 to $398.00 and gave the stock an “overweight” rating in a report on Monday, July 7th. Wells Fargo & Company restated a “mixed” rating on shares of Everest Group in a research report on Monday, August 4th. Keefe, Bruyette & Woods upped their price target on shares of Everest Group from $405.00 to $416.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 6th. Finally, 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.

Everest Group Stock Performance

Shares of EG stock opened at $342.16 on Tuesday. Everest Group has a 52 week low of $320.00 and a 52 week high of $407.30. The stock has a market capitalization of $14.35 billion, a PE ratio of 18.16, a P/E/G ratio of 0.25 and a beta of 0.51. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.24. The firm has a 50 day moving average of $336.04 and a two-hundred day moving average of $343.71.

Everest Group (NYSE:EG) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $17.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $15.14 by $2.22. The company had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.22 billion. Everest Group had a net margin of 4.56% and a return on equity of 5.89%. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $16.85 earnings per share. On average, research analysts predict that Everest Group will post 47.93 EPS for the current fiscal year.

Everest Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Wednesday, September 3rd will be issued a dividend of $2.00 per share. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $8.00 annualized dividend and a yield of 2.3%. Everest Group’s payout ratio is currently 42.46%.

Insider Activity at Everest Group

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

Institutional Investors Weigh In On Everest Group

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Stifel Financial Corp lifted its position in shares of Everest Group by 317.3% in the fourth quarter. Stifel Financial Corp now owns 18,141 shares of the company’s stock valued at $6,575,000 after acquiring an additional 13,794 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Everest Group by 9.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 108,269 shares of the company’s stock worth $39,244,000 after buying an additional 9,475 shares in the last quarter. Voya Investment Management LLC boosted its position in Everest Group by 7.8% during the fourth quarter. Voya Investment Management LLC now owns 18,895 shares of the company’s stock worth $6,849,000 after acquiring an additional 1,361 shares during the last quarter. Two Sigma Securities LLC boosted its holdings in shares of Everest Group by 577.2% during the fourth quarter. Two Sigma Securities LLC now owns 772 shares of the company’s stock worth $280,000 after purchasing an additional 658 shares during the last quarter. Finally, Coldstream Capital Management Inc. grew its position in shares of Everest Group by 35.8% in the fourth quarter. Coldstream Capital Management Inc. now owns 952 shares of the company’s stock valued at $345,000 after purchasing an additional 251 shares during the period. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Everest Group Company Profile

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.