Everest Group, Ltd. (NYSE:EG) Receives $416.50 Average PT from Brokerages

Shares of Everest Group, Ltd. (NYSE:EG) have received an average rating of “Hold” from the nine research firms that are presently covering the stock, MarketBeat reports. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $416.50.

Several research firms recently commented on EG. Keefe, Bruyette & Woods upped their price objective on Everest Group from $420.00 to $434.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. Wells Fargo & Company lowered their price objective on Everest Group from $390.00 to $380.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. BMO Capital Markets downgraded Everest Group from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $453.00 to $375.00 in a research report on Thursday, January 30th. Jefferies Financial Group downgraded Everest Group from a “buy” rating to a “hold” rating and increased their price objective for the stock from $420.00 to $429.00 in a research report on Tuesday, November 26th. Finally, Barclays increased their price objective on Everest Group from $461.00 to $470.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Dakota Wealth Management grew its stake in shares of Everest Group by 1.7% during the fourth quarter. Dakota Wealth Management now owns 1,945 shares of the company’s stock valued at $705,000 after buying an additional 32 shares during the last quarter. Wilmington Savings Fund Society FSB grew its stake in shares of Everest Group by 19.6% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 195 shares of the company’s stock valued at $71,000 after buying an additional 32 shares during the last quarter. Steph & Co. grew its stake in shares of Everest Group by 10.6% during the fourth quarter. Steph & Co. now owns 366 shares of the company’s stock valued at $133,000 after buying an additional 35 shares during the last quarter. Lester Murray Antman dba SimplyRich grew its stake in shares of Everest Group by 2.7% during the fourth quarter. Lester Murray Antman dba SimplyRich now owns 1,328 shares of the company’s stock valued at $481,000 after buying an additional 35 shares during the last quarter. Finally, Nissay Asset Management Corp Japan ADV grew its stake in shares of Everest Group by 0.7% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 5,315 shares of the company’s stock valued at $1,913,000 after buying an additional 36 shares during the last quarter. Institutional investors own 92.64% of the company’s stock.

Everest Group Stock Performance

Shares of EG opened at $363.77 on Tuesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.40 and a current ratio of 0.40. The stock has a 50 day moving average price of $352.32 and a two-hundred day moving average price of $369.75. The firm has a market capitalization of $15.62 billion, a P/E ratio of 11.58, a P/E/G ratio of 0.24 and a beta of 0.61. Everest Group has a 52 week low of $327.37 and a 52 week high of $407.30.

Everest Group (NYSE:EG) last released its earnings results on Monday, February 3rd. The company reported ($18.39) earnings per share (EPS) for the quarter, missing the consensus estimate of $11.64 by ($30.03). Everest Group had a net margin of 7.95% and a return on equity of 9.04%. Equities analysts forecast that Everest Group will post 47.93 earnings per share for the current fiscal year.

Everest Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 17th will be paid a $2.00 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $8.00 dividend on an annualized basis and a yield of 2.20%. Everest Group’s dividend payout ratio is presently 25.47%.

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.