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

Shares of Everest Group, Ltd. (NYSE:EG) have earned a consensus recommendation of “Moderate Buy” from the seven brokerages that are currently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $432.11.

EG has been the topic of a number of research reports. Citigroup downgraded Everest Group from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $452.00 to $375.00 in a research note on Monday, February 12th. Keefe, Bruyette & Woods lifted their price objective on Everest Group from $445.00 to $457.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. TD Cowen initiated coverage on Everest Group in a research note on Wednesday, January 10th. They issued a “market perform” rating and a $421.00 price objective on the stock. Morgan Stanley reduced their price objective on Everest Group from $466.00 to $450.00 and set an “overweight” rating on the stock in a research note on Monday, April 15th. Finally, Wells Fargo & Company reduced their price objective 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.

Insider Transactions at Everest Group

In other Everest Group news, CFO Mark Kociancic acquired 1,000 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was bought at an average price of $349.00 per share, for a total transaction of $349,000.00. Following the acquisition, the chief financial officer now directly owns 25,733 shares in the company, valued at $8,980,817. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Everest Group news, CFO Mark Kociancic acquired 1,000 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was bought at an average price of $349.00 per share, for a total transaction of $349,000.00. Following the acquisition, the chief financial officer now directly owns 25,733 shares in the company, valued at $8,980,817. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Roger M. Singer acquired 500 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were acquired at an average price of $357.21 per share, with a total value of $178,605.00. Following the acquisition, the director now owns 16,920 shares in the company, valued at $6,043,993.20. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 2,485 shares of company stock worth $874,786. 1.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Everest Group

A number of large investors have recently bought and sold shares of the business. Allworth Financial LP purchased a new stake in shares of Everest Group in the 4th quarter worth $25,000. Avior Wealth Management LLC bought a new stake in shares of Everest Group in the fourth quarter valued at about $25,000. Headlands Technologies LLC purchased a new stake in Everest Group in the fourth quarter worth about $25,000. Janiczek Wealth Management LLC bought a new position in Everest Group during the 4th quarter worth about $27,000. Finally, Trifecta Capital Advisors LLC bought a new position in Everest Group during the 4th quarter worth about $28,000. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Everest Group Stock Up 2.8 %

Shares of EG opened at $370.26 on Friday. The business’s 50 day moving average is $375.96 and its 200 day moving average is $380.16. The company has a market capitalization of $19.72 billion, a PE ratio of 6.20, a price-to-earnings-growth ratio of 3.15 and a beta of 0.56. Everest Group has a 12-month low of $331.08 and a 12-month high of $417.92. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.26.

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

Everest Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Tuesday, March 19th were issued a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend was Monday, March 18th. Everest Group’s dividend payout ratio (DPR) is 11.72%.

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.