Everest Group, Ltd. (NYSE:EG) Given Consensus Rating of “Moderate Buy” by Brokerages

Everest Group, Ltd. (NYSE:EG) has been assigned a consensus rating of “Moderate Buy” from the seven brokerages that are presently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating, three have issued 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 ratings on the stock in the last year is $432.11.

A number of equities analysts have weighed in on EG shares. Morgan Stanley decreased their target price on Everest Group from $466.00 to $450.00 and set an “overweight” rating on the stock in a research note on Monday. Citigroup lowered Everest Group from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $452.00 to $375.00 in a research note on Monday, February 12th. Wells Fargo & Company decreased their target price on Everest Group from $402.00 to $397.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 11th. Keefe, Bruyette & Woods upped their target price on Everest Group from $445.00 to $457.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Finally, TD Cowen initiated coverage on Everest Group in a report on Wednesday, January 10th. They issued a “market perform” rating and a $421.00 price objective for the company.

Everest Group Stock Down 0.8 %

Shares of NYSE:EG opened at $357.20 on Friday. The stock has a market cap of $19.02 billion, a price-to-earnings ratio of 5.98, a PEG ratio of 3.17 and a beta of 0.56. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.26. Everest Group has a 12-month low of $331.08 and a 12-month high of $417.92. The business’s 50 day moving average is $375.51 and its 200 day moving average is $380.33.

Everest Group (NYSE:EG) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $25.18 EPS for the quarter, beating analysts’ consensus estimates of $14.63 by $10.55. Everest Group had a return on equity of 25.05% and a net margin of 17.26%. The firm had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $3.85 billion. During the same quarter in the prior year, the firm earned $12.21 EPS. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. On average, sell-side analysts forecast that Everest Group will post 61.21 earnings per share for the current fiscal year.

Everest Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Tuesday, March 19th were given a $1.75 dividend. This represents a $7.00 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend was Monday, March 18th. Everest Group’s dividend payout ratio is currently 11.72%.

Insider Transactions at Everest Group

In other news, CFO Mark Kociancic bought 1,000 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was purchased at an average price of $349.00 per share, with a total value of $349,000.00. Following the transaction, the chief financial officer now owns 25,733 shares of the company’s stock, valued at $8,980,817. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Everest Group news, COO James Allan Williamson bought 700 shares of Everest Group stock in a transaction on Friday, February 9th. The stock was acquired at an average price of $352.50 per share, with a total value of $246,750.00. Following the acquisition, the chief operating officer now owns 11,749 shares in the company, valued at $4,141,522.50. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Mark Kociancic bought 1,000 shares of Everest Group stock in a transaction on Friday, February 9th. The stock was acquired at an average cost of $349.00 per share, with a total value of $349,000.00. Following the acquisition, the chief financial officer now owns 25,733 shares in the company, valued at approximately $8,980,817. The disclosure for this purchase can be found here. In the last quarter, insiders bought 2,485 shares of company stock valued at $874,786. Corporate insiders own 1.40% of the company’s stock.

Institutional Trading of Everest Group

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. purchased a new position in shares of Everest Group in the 4th quarter worth $1,886,055,000. Wellington Management Group LLP purchased a new position in shares of Everest Group in the 4th quarter worth $751,457,000. Franklin Resources Inc. purchased a new position in shares of Everest Group in the 4th quarter worth $373,130,000. Nuveen Asset Management LLC purchased a new position in shares of Everest Group in the 4th quarter worth $338,804,000. Finally, Boston Partners purchased a new position in Everest Group during the fourth quarter valued at $328,064,000. 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.