Everest Group (NYSE:EG) Announces Quarterly Earnings Results

Everest Group (NYSE:EG) posted its quarterly earnings data on Monday. The company reported $16.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $15.98 by $0.34, Briefing.com reports. The business had revenue of $4.13 billion for the quarter, compared to analysts’ expectations of $4.05 billion. Everest Group had a return on equity of 25.05% and a net margin of 17.26%. The business’s revenue was up 25.8% on a year-over-year basis. During the same quarter last year, the firm earned $11.31 earnings per share.

Everest Group Stock Performance

EG stock traded down $9.60 during mid-day trading on Tuesday, reaching $359.51. The company had a trading volume of 119,297 shares, compared to its average volume of 365,138. Everest Group has a one year low of $331.08 and a one year high of $417.92. The stock has a market capitalization of $19.15 billion, a P/E ratio of 6.18, a P/E/G ratio of 3.22 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. The stock’s 50-day simple moving average is $375.85 and its two-hundred day simple moving average is $379.41.

Everest Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Tuesday, March 19th were issued a $1.75 dividend. This represents a $7.00 annualized dividend and a dividend yield of 1.95%. The ex-dividend date was Monday, March 18th. Everest Group’s dividend payout ratio (DPR) is 11.72%.

Wall Street Analysts Forecast Growth

EG has been the subject of several research analyst reports. Wells Fargo & Company dropped their price target on shares of Everest Group from $402.00 to $397.00 and set an “equal weight” rating for the company in a research report on Thursday, April 11th. TD Cowen assumed coverage on Everest Group in a research report on Wednesday, January 10th. They issued a “market perform” rating and a $421.00 target price on the stock. Keefe, Bruyette & Woods boosted their price target on Everest Group from $445.00 to $457.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Morgan Stanley cut their price objective on Everest Group from $466.00 to $450.00 and set an “overweight” rating on the stock in a report on Monday, April 15th. Finally, Citigroup cut 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 report on Monday, February 12th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $432.11.

Insider Buying and Selling

In other news, CFO Mark Kociancic purchased 1,000 shares of the company’s stock in a transaction on Friday, February 9th. The shares were bought at an average price of $349.00 per share, for a total transaction of $349,000.00. Following the completion of the purchase, the chief financial officer now owns 25,733 shares of the company’s stock, valued at $8,980,817. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, COO James Allan Williamson acquired 700 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were acquired at an average cost of $352.50 per share, for a total transaction of $246,750.00. Following the completion of the purchase, the chief operating officer now directly owns 11,749 shares in the company, valued at $4,141,522.50. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Mark Kociancic bought 1,000 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was bought 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 directly owns 25,733 shares in the company, valued at $8,980,817. The disclosure for this purchase can be found here. Insiders have bought a total of 2,485 shares of company stock valued at $874,786 in the last quarter. Company insiders own 1.20% of the company’s stock.

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.