Everest Group (NYSE:EG) Reaches New 1-Year High – Here’s What Happened

Everest Group, Ltd. (NYSE:EG) shares reached a new 52-week high during mid-day trading on Thursday. The company traded as high as $402.23 and last traded at $401.8410, with a volume of 34,413 shares changing hands. The stock had previously closed at $394.78.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Royal Bank Of Canada began coverage on Everest Group in a report on Tuesday, September 22nd. They set an “outperform” rating and a $455.00 price target for the company. Wells Fargo & Company raised their price objective on shares of Everest Group from $373.00 to $396.00 and gave the stock an “equal weight” rating in a research note on Friday, July 31st. Weiss Ratings upgraded shares of Everest Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday. Mizuho dropped their target price on shares of Everest Group from $416.00 to $398.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 7th. Finally, Barclays upped their target price on shares of Everest Group from $420.00 to $430.00 and gave the company an “overweight” rating in a research note on Thursday, July 30th. Six research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $407.94.

Everest Group Price Performance

The company has a market cap of $15.62 billion, a price-to-earnings ratio of 8.61, a price-to-earnings-growth ratio of 0.58 and a beta of 0.26. The company has a fifty day moving average price of $374.35 and a two-hundred day moving average price of $360.73. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.23.

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

Everest Group Dividend Announcement

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

Institutional Investors Weigh In On Everest Group

Institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in shares of Everest Group in the 2nd quarter valued at $1,150,555,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of Everest Group during the 2nd quarter worth about $350,718,000. William Blair Investment Management LLC bought a new position in shares of Everest Group during the 2nd quarter worth about $171,426,000. Donald Smith & CO. Inc. bought a new position in shares of Everest Group during the 2nd quarter worth about $153,206,000. Finally, Hsbc Holdings PLC boosted its position in shares of Everest Group by 507.4% during the 1st quarter. Hsbc Holdings PLC now owns 449,919 shares of the company’s stock valued at $147,102,000 after acquiring an additional 375,846 shares in the last quarter. 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.