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

Everest Group, Ltd. (NYSE:EG) has received a consensus recommendation of “Moderate Buy” from the nine analysts that are covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $431.00.

Several brokerages have commented on EG. Bank of America boosted their target price on shares of Everest Group from $470.00 to $493.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. BMO Capital Markets upped their target price on shares of Everest Group from $387.00 to $403.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 7th. Morgan Stanley reduced their price target on shares of Everest Group from $450.00 to $445.00 and set an “overweight” rating for the company in a research report on Wednesday, July 10th. TD Cowen lowered their price target on Everest Group from $419.00 to $405.00 and set a “hold” rating on the stock in a report on Tuesday, August 13th. Finally, Wells Fargo & Company lifted their price objective on Everest Group from $392.00 to $393.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Avior Wealth Management LLC purchased a new position in shares of Everest Group during the 4th quarter worth $25,000. Headlands Technologies LLC acquired a new position in Everest Group in the fourth quarter valued at $25,000. American National Bank purchased a new position in Everest Group during the second quarter worth about $27,000. Heritage Wealth Advisors acquired a new stake in Everest Group in the 4th quarter worth about $30,000. Finally, DT Investment Partners LLC purchased a new stake in Everest Group in the 4th quarter valued at about $31,000. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Everest Group Trading Up 0.9 %

NYSE EG opened at $382.17 on Friday. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $16.54 billion, a P/E ratio of 5.68, a P/E/G ratio of 2.26 and a beta of 0.63. Everest Group has a 52-week low of $343.76 and a 52-week high of $417.92. The firm has a 50-day moving average price of $376.62 and a 200 day moving average price of $377.18.

Everest Group (NYSE:EG) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $16.85 EPS for the quarter, missing the consensus estimate of $16.97 by ($0.12). Everest Group had a net margin of 18.36% and a return on equity of 24.09%. The business had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.32 billion. During the same period in the prior year, the business earned $15.21 earnings per share. The firm’s quarterly revenue was up 15.8% compared to the same quarter last year. Equities research analysts expect that Everest Group will post 61.69 EPS for the current year.

Everest Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Monday, September 16th will be issued a $2.00 dividend. The ex-dividend date is Monday, September 16th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.09%. Everest Group’s dividend payout ratio (DPR) is 11.89%.

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.