Everest Group, Ltd. (NYSE:EG) Stock Has Average Target Price of $407.94

Everest Group, Ltd. (NYSE:EG) has earned a consensus recommendation of “Hold” from the sixteen research firms that are presently covering the company, MarketBeat.com reports. Ten investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $407.94.

Several equities analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Everest Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday. TD Cowen lifted their target price on shares of Everest Group from $365.00 to $385.00 and gave the stock a “hold” rating in a research note on Wednesday, August 19th. Morgan Stanley raised their target price on Everest Group from $355.00 to $360.00 and gave the stock an “equal weight” rating in a research note on Monday, July 6th. Evercore set a $377.00 price target on shares of Everest Group in a research report on Thursday, July 30th. Finally, Barclays upped their price target on shares of Everest Group from $420.00 to $430.00 and gave the company an “overweight” rating in a report on Thursday, July 30th.

Everest Group Trading Down 2.2%

Everest Group stock opened at $398.50 on Friday. The stock has a 50-day moving average of $375.74 and a two-hundred day moving average of $361.56. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.35 and a current ratio of 0.35. Everest Group has a one year low of $302.44 and a one year high of $409.82. The stock has a market cap of $15.28 billion, a PE ratio of 8.43, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26.

Everest Group (NYSE:EG) last issued its quarterly earnings results on Tuesday, June 30th. The company reported $14.85 earnings per share for the quarter. Everest Group had a return on equity of 13.63% and a net margin of 11.41%. The business had revenue of $3.96 billion during the quarter. On average, research analysts anticipate that Everest Group will post 53.69 EPS for the current fiscal year.

Everest Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Wednesday, September 9th were issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Wednesday, September 9th. Everest Group’s payout ratio is 16.92%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Apollon Wealth Management LLC raised its position in shares of Everest Group by 24.4% in the third quarter. Apollon Wealth Management LLC now owns 1,076 shares of the company’s stock worth $393,000 after acquiring an additional 211 shares during the period. Signaturefd LLC increased its stake in shares of Everest Group by 158.2% during the third quarter. Signaturefd LLC now owns 1,113 shares of the company’s stock worth $406,000 after purchasing an additional 682 shares in the last quarter. Citizens Financial Group Inc. RI increased its stake in shares of Everest Group by 45.5% during the third quarter. Citizens Financial Group Inc. RI now owns 1,049 shares of the company’s stock worth $383,000 after purchasing an additional 328 shares in the last quarter. Evergreen Capital Management LLC raised its position in shares of Everest Group by 5.0% during the 3rd quarter. Evergreen Capital Management LLC now owns 1,374 shares of the company’s stock worth $502,000 after purchasing an additional 65 shares during the last quarter. Finally, Sterling Capital Management LLC raised its stake in Everest Group by 187.1% in the 3rd quarter. Sterling Capital Management LLC now owns 3,417 shares of the company’s stock valued at $1,248,000 after purchasing an additional 2,227 shares during the last quarter. Hedge funds and other institutional investors own 92.64% of the company’s stock.

About Everest Group

Everest Group, Ltd. is a global insurance and reinsurance company that provides property and casualty coverage to businesses, institutions, and other insurers. Its operations focus on assuming and managing risks through reinsurance, as well as offering insurance products in selected specialty and commercial markets.

The company’s reinsurance business supports insurers across lines such as property, casualty, specialty, and other risks. Through its insurance platform, Everest provides coverage for commercial customers and specialty exposures, including property, casualty, professional liability, and other products that may vary by market.