UBS Group Upgrades Everest Group (NYSE:EG) to “Hold”

UBS Group upgraded shares of Everest Group (NYSE:EG) to a hold rating in a research report released on Wednesday, Zacks.com reports.

Several other brokerages have also recently issued reports on EG. Morgan Stanley dropped their price objective on shares of Everest Group from $450.00 to $445.00 and set an overweight rating on the stock in a research note on Wednesday, July 10th. Barclays assumed coverage on shares of Everest Group in a research report on Wednesday, September 4th. They set an overweight rating and a $527.00 target price on the stock. BMO Capital Markets restated a market perform rating and set a $403.00 target price on shares of Everest Group in a research report on Friday, August 30th. Jefferies Financial Group boosted their target price on shares of Everest Group from $440.00 to $457.00 and gave the stock a buy rating in a research report on Wednesday. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Everest Group from $454.00 to $438.00 and set an outperform rating on the stock in a research report on Thursday, August 8th. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Everest Group presently has a consensus rating of Moderate Buy and an average target price of $439.27.

Everest Group Stock Performance

Shares of Everest Group stock opened at $393.96 on Wednesday. The firm’s fifty day simple moving average is $382.90 and its 200-day simple moving average is $380.63. The stock has a market capitalization of $16.96 billion, a price-to-earnings ratio of 5.82, a PEG ratio of 2.70 and a beta of 0.61. Everest Group has a 12 month low of $343.76 and a 12 month high of $417.92. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.38 and a quick ratio of 0.38.

Everest Group (NYSE:EG) last announced its earnings results on Wednesday, July 31st. The company reported $16.85 EPS for the quarter, missing analysts’ consensus estimates of $16.97 by ($0.12). The business had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.32 billion. Everest Group had a net margin of 18.36% and a return on equity of 24.09%. The business’s revenue was up 15.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $15.21 earnings per share. As a group, equities analysts forecast that Everest Group will post 61.78 earnings per share for the current year.

Everest Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Monday, September 16th were paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date was Monday, September 16th. Everest Group’s dividend payout ratio is currently 11.81%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Gilman Hill Asset Management LLC increased its position in Everest Group by 0.9% during the 3rd quarter. Gilman Hill Asset Management LLC now owns 7,008 shares of the company’s stock worth $2,746,000 after purchasing an additional 60 shares in the last quarter. Capital Insight Partners LLC raised its stake in shares of Everest Group by 3.9% during the third quarter. Capital Insight Partners LLC now owns 1,928 shares of the company’s stock valued at $755,000 after purchasing an additional 72 shares during the period. Bruce G. Allen Investments LLC raised its stake in shares of Everest Group by 200.0% during the third quarter. Bruce G. Allen Investments LLC now owns 78 shares of the company’s stock valued at $31,000 after purchasing an additional 52 shares during the period. Wedmont Private Capital raised its stake in shares of Everest Group by 4.8% during the third quarter. Wedmont Private Capital now owns 638 shares of the company’s stock valued at $238,000 after purchasing an additional 29 shares during the period. Finally, Daymark Wealth Partners LLC raised its stake in shares of Everest Group by 9.8% during the third quarter. Daymark Wealth Partners LLC now owns 2,250 shares of the company’s stock valued at $882,000 after purchasing an additional 200 shares during the period. Institutional investors and hedge funds own 92.64% 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.