Everest Group, Ltd. (NYSE:EG) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Everest Group, Ltd. (NYSE:EG) has earned an average recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $432.11.

EG has been the subject of several research analyst reports. Morgan Stanley dropped 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 report on Monday, April 15th. Wells Fargo & Company dropped their price objective on shares of Everest Group from $402.00 to $397.00 and set an “equal weight” rating for the company in a research report on Thursday, April 11th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Everest Group from $445.00 to $457.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th.

Hedge Funds Weigh In On Everest Group

Several institutional investors have recently made changes to their positions in EG. Allworth Financial LP bought a new stake in Everest Group in the 4th quarter worth about $25,000. Avior Wealth Management LLC bought a new position in shares of Everest Group during the 4th quarter valued at approximately $25,000. Headlands Technologies LLC bought a new position in shares of Everest Group during the 4th quarter valued at approximately $25,000. Janiczek Wealth Management LLC bought a new position in shares of Everest Group during the 4th quarter valued at approximately $27,000. Finally, Trifecta Capital Advisors LLC bought a new position in shares of Everest Group during the 4th quarter valued at approximately $28,000. Institutional investors and hedge funds own 92.64% of the company’s stock.

Everest Group Price Performance

Shares of NYSE:EG opened at $376.29 on Thursday. Everest Group has a 1 year low of $331.08 and a 1 year high of $417.92. The business has a fifty day simple moving average of $379.15 and a 200 day simple moving average of $375.07. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.25. The firm has a market cap of $16.35 billion, a price-to-earnings ratio of 5.59, a P/E/G ratio of 3.35 and a beta of 0.62.

Everest Group (NYSE:EG) last issued its quarterly earnings results on Monday, April 29th. The company reported $16.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $15.98 by $0.34. Everest Group had a return on equity of 24.86% and a net margin of 18.69%. The company had revenue of $4.13 billion for the quarter, compared to the consensus estimate of $4.05 billion. During the same period last year, the business posted $11.31 earnings per share. The firm’s revenue was up 25.8% compared to the same quarter last year. As a group, sell-side analysts predict that Everest Group will post 61.65 earnings per share for the current fiscal year.

Everest Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Wednesday, May 29th were issued a $2.00 dividend. This is a positive change from Everest Group’s previous quarterly dividend of $1.75. The ex-dividend date was Wednesday, May 29th. This represents a $8.00 annualized dividend and a yield of 2.13%. Everest Group’s payout ratio is presently 11.89%.

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.