Everest Group, Ltd. (NYSE:EG) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Everest Group, Ltd. (NYSE:EG) has been given a consensus recommendation of “Moderate Buy” by the nine ratings firms that are currently covering the company, MarketBeat Ratings reports. Four research 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 target among brokers that have updated their coverage on the stock in the last year is $438.09.

Several analysts have commented on EG shares. Keefe, Bruyette & Woods decreased their price objective on shares of Everest Group from $454.00 to $438.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Bank of America boosted their target price on shares of Everest Group from $470.00 to $493.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. BMO Capital Markets reaffirmed a “market perform” rating and set a $403.00 price target on shares of Everest Group in a research report on Friday, August 30th. Barclays began coverage on Everest Group in a report on Wednesday, September 4th. They issued an “overweight” rating and a $527.00 price objective for the company. Finally, Wells Fargo & Company raised their target price on Everest Group from $392.00 to $393.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th.

Everest Group Price Performance

Shares of EG opened at $382.75 on Tuesday. The firm has a market capitalization of $16.63 billion, a PE ratio of 5.69, a price-to-earnings-growth ratio of 2.46 and a beta of 0.62. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.38 and a quick ratio of 0.38. The company’s fifty day moving average price is $380.58 and its 200-day moving average price is $379.30. Everest Group has a 1-year low of $343.76 and a 1-year high of $417.92.

Everest Group (NYSE:EG) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $16.85 earnings per share for the quarter, missing analysts’ consensus estimates of $16.97 by ($0.12). Everest Group had a net margin of 18.36% and a return on equity of 24.09%. The firm 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 company posted $15.21 earnings per share. The firm’s revenue for the quarter was up 15.8% on a year-over-year basis. On average, equities research analysts predict that Everest Group will post 61.66 EPS for the current year.

Everest Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Monday, September 16th will be issued a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend is Monday, September 16th. Everest Group’s payout ratio is currently 11.89%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. American National Bank acquired a new stake in Everest Group in the 2nd quarter worth about $27,000. Massmutual Trust Co. FSB ADV acquired a new position in Everest Group in the 1st quarter valued at $33,000. Heritage Wealth Advisors purchased a new position in Everest Group in the 4th quarter valued at $30,000. FinTrust Capital Advisors LLC acquired a new stake in Everest Group during the 4th quarter worth $33,000. Finally, Benjamin F. Edwards & Company Inc. acquired a new stake in shares of Everest Group in the fourth quarter valued at about $35,000. 92.64% of the stock is owned by institutional investors and hedge funds.

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.