Everest Group (NYSE:EG) Announces Earnings Results, Beats Expectations By $0.34 EPS

Everest Group (NYSE:EG) issued its quarterly earnings results on Monday. The company reported $16.32 EPS for the quarter, topping the consensus estimate of $15.98 by $0.34, Briefing.com reports. The firm had revenue of $4.13 billion during the quarter, compared to analyst estimates of $4.05 billion. Everest Group had a net margin of 18.69% and a return on equity of 24.86%. Everest Group’s revenue for the quarter was up 25.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $11.31 earnings per share.

Everest Group Stock Performance

Shares of Everest Group stock opened at $369.90 on Thursday. Everest Group has a 12 month low of $331.08 and a 12 month high of $417.92. The company has a quick ratio of 0.37, a current ratio of 0.35 and a debt-to-equity ratio of 0.25. The stock has a market cap of $19.70 billion, a PE ratio of 5.50, a price-to-earnings-growth ratio of 3.23 and a beta of 0.57. The business has a fifty day simple moving average of $375.84 and a 200-day simple moving average of $379.01.

Everest Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Tuesday, March 19th were paid a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date was Monday, March 18th. Everest Group’s dividend payout ratio is 10.40%.

Analysts Set New Price Targets

EG has been the topic of several research analyst reports. 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. Morgan Stanley decreased their price objective on shares of Everest Group from $466.00 to $450.00 and set an “overweight” rating for the company in a research note on Monday, April 15th. Keefe, Bruyette & Woods raised their target price on shares of Everest Group from $445.00 to $457.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. TD Cowen assumed coverage on shares of Everest Group in a report on Wednesday, January 10th. They set a “market perform” rating and a $421.00 target price on the stock. Finally, Citigroup downgraded Everest Group from a “buy” rating to a “neutral” rating and lowered their price target for the company from $452.00 to $375.00 in a report on Monday, February 12th. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $432.11.

Insider Buying and Selling

In related news, CEO Mike Karmilowicz purchased 285 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was acquired at an average cost of $352.39 per share, for a total transaction of $100,431.15. Following the completion of the acquisition, the chief executive officer now owns 10,586 shares in the company, valued at approximately $3,730,400.54. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Mike Karmilowicz acquired 285 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were purchased at an average price of $352.39 per share, for a total transaction of $100,431.15. Following the completion of the acquisition, the chief executive officer now owns 10,586 shares of the company’s stock, valued at approximately $3,730,400.54. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO James Allan Williamson bought 700 shares of Everest Group stock in a transaction on Friday, February 9th. The stock was acquired at an average price of $352.50 per share, with a total value of $246,750.00. Following the completion of the purchase, the chief operating officer now directly owns 11,749 shares of the company’s stock, valued at $4,141,522.50. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 2,485 shares of company stock valued at $874,786. Corporate 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.