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

Everest Group, Ltd. (NYSE:EG) has been assigned an average rating of “Hold” from the sixteen research firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $382.7857.

A number of analysts have recently weighed in on the stock. 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. 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 for the company. Cantor Fitzgerald upgraded shares of Everest Group to a “hold” rating in a research note on Wednesday, August 13th. Wells Fargo & Company boosted their price objective on shares of Everest Group from $371.00 to $383.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 8th. Finally, Barclays upped their target price on shares of Everest Group from $405.00 to $430.00 and gave the company an “overweight” rating in a research note on Wednesday, October 8th.

Everest Group Price Performance

Shares of Everest Group stock opened at $348.97 on Wednesday. The firm has a fifty day simple moving average of $344.67 and a 200-day simple moving average of $341.99. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.24. Everest Group has a 1-year low of $320.00 and a 1-year high of $392.78. The stock has a market capitalization of $14.64 billion, a price-to-earnings ratio of 18.52, a PEG ratio of 0.24 and a beta of 0.48.

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

Everest Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Wednesday, September 3rd were paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 2.3%. The ex-dividend date was Wednesday, September 3rd. Everest Group’s dividend payout ratio is presently 42.46%.

Hedge Funds Weigh In On Everest Group

Large investors have recently bought and sold shares of the stock. SVB Wealth LLC acquired a new position in Everest Group during the 1st quarter valued at $30,000. Tsfg LLC acquired a new position in Everest Group during the 1st quarter valued at $33,000. Zions Bancorporation National Association UT acquired a new position in Everest Group during the 1st quarter valued at $34,000. Board of the Pension Protection Fund bought a new stake in Everest Group in the 2nd quarter valued at $34,000. Finally, WPG Advisers LLC bought a new stake in Everest Group in the 1st quarter valued at $37,000. 92.64% of the stock is currently owned by institutional investors and hedge funds.

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.