Everest Group, Ltd. (NYSE:EG) Plans Quarterly Dividend of $2.00

Everest Group, Ltd. (NYSE:EG) declared a quarterly dividend on Wednesday, November 5th. Investors of record on Wednesday, November 26th will be given a dividend of 2.00 per share on Friday, December 12th. This represents a c) dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Wednesday, November 26th.

Everest Group has raised its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 1 years. Everest Group has a payout ratio of 13.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Everest Group to earn $62.48 per share next year, which means the company should continue to be able to cover its $8.00 annual dividend with an expected future payout ratio of 12.8%.

Everest Group Stock Performance

EG opened at $321.85 on Thursday. The firm has a market capitalization of $13.50 billion, a PE ratio of 24.51, a PEG ratio of 0.25 and a beta of 0.48. Everest Group has a twelve month low of $302.44 and a twelve month high of $392.78. The firm’s 50-day moving average price is $341.64 and its 200 day moving average price is $340.57. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.24.

Everest Group (NYSE:EG) last posted its earnings results on Monday, October 27th. The company reported $7.54 earnings per share for the quarter, missing the consensus estimate of $13.39 by ($5.85). The firm had revenue of $4.32 billion during the quarter, compared to analyst estimates of $3.86 billion. Everest Group had a net margin of 3.12% and a return on equity of 3.81%. The business’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $11.80 earnings per share. As a group, sell-side analysts expect that Everest Group will post 47.93 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

EG has been the topic of several recent analyst reports. UBS Group decreased their target price on shares of Everest Group from $372.00 to $370.00 and set a “neutral” rating on the stock in a report on Wednesday, July 9th. Wall Street Zen lowered shares of Everest Group from a “buy” rating to a “hold” rating in a report on Sunday. Barclays decreased their target price on shares of Everest Group from $425.00 to $365.00 and set an “overweight” rating on the stock in a report on Friday, October 31st. Wells Fargo & Company decreased their target price on shares of Everest Group from $383.00 to $343.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 29th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Everest Group in a report on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, Everest Group currently has a consensus rating of “Hold” and a consensus target price of $372.36.

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.