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

Shares of Everest Group, Ltd. (NYSE:EG) have received an average rating of “Moderate Buy” from the eleven analysts that are presently covering the stock, MarketBeat reports. Six analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $398.09.

Several research analysts have commented on the company. Morgan Stanley lifted their price target on Everest Group from $330.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Monday, May 19th. Barclays reduced their price target on shares of Everest Group from $470.00 to $394.00 and set an “overweight” rating for the company in a research report on Friday, April 11th. Wells Fargo & Company lowered their price objective on shares of Everest Group from $362.00 to $361.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 6th. Evercore ISI reduced their target price on shares of Everest Group from $400.00 to $396.00 and set an “in-line” rating for the company in a report on Thursday, May 1st. Finally, UBS Group reduced their price objective on Everest Group from $375.00 to $372.00 and set a “neutral” rating for the company in a research note on Wednesday, April 9th.

Everest Group Price Performance

EG stock opened at $335.39 on Thursday. Everest Group has a 52-week low of $320.00 and a 52-week high of $407.30. The stock has a market cap of $14.27 billion, a price-to-earnings ratio of 10.68, a price-to-earnings-growth ratio of 0.24 and a beta of 0.53. The business has a fifty day moving average of $345.55 and a two-hundred day moving average of $353.77. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.26.

Everest Group (NYSE:EG) last posted its earnings results on Wednesday, April 30th. The company reported $6.45 EPS for the quarter, missing the consensus estimate of $7.46 by ($1.01). The business had revenue of $4.26 billion during the quarter, compared to analysts’ expectations of $3.89 billion. Everest Group had a net margin of 7.95% and a return on equity of 9.04%. The business’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period last year, the company earned $16.32 EPS. As a group, research analysts anticipate that Everest Group will post 47.93 earnings per share for the current year.

Everest Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Wednesday, May 28th will be given a dividend of $2.00 per share. The ex-dividend date is Wednesday, May 28th. This represents a $8.00 annualized dividend and a yield of 2.39%. Everest Group’s payout ratio is currently 41.15%.

Insider Buying and Selling

In related news, Director Geraldine Losquadro sold 1,500 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $360.63, for a total transaction of $540,945.00. Following the sale, the director now owns 12,279 shares of the company’s stock, valued at $4,428,175.77. This trade represents a 10.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Everest Group

Several large investors have recently added to or reduced their stakes in EG. JPMorgan Chase & Co. boosted its holdings in Everest Group by 39.9% in the fourth quarter. JPMorgan Chase & Co. now owns 109,775 shares of the company’s stock valued at $39,789,000 after acquiring an additional 31,306 shares during the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of Everest Group by 25.4% in the 4th quarter. Commonwealth Equity Services LLC now owns 12,055 shares of the company’s stock worth $4,369,000 after purchasing an additional 2,438 shares during the period. Brandywine Global Investment Management LLC lifted its stake in shares of Everest Group by 108.5% in the 4th quarter. Brandywine Global Investment Management LLC now owns 12,423 shares of the company’s stock valued at $4,503,000 after purchasing an additional 6,466 shares in the last quarter. Atria Wealth Solutions Inc. purchased a new stake in shares of Everest Group during the 4th quarter worth about $325,000. Finally, Johnson Investment Counsel Inc. grew its holdings in shares of Everest Group by 5.1% during the 4th quarter. Johnson Investment Counsel Inc. now owns 186,327 shares of the company’s stock worth $67,536,000 after purchasing an additional 8,984 shares during the period. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Everest Group Company Profile

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.