Zacks Research Lowers Earnings Estimates for Everest Group

Everest Group, Ltd. (NYSE:EG) – Investment analysts at Zacks Research decreased their FY2024 earnings estimates for shares of Everest Group in a research note issued to investors on Wednesday, November 20th. Zacks Research analyst T. De now anticipates that the company will post earnings per share of $59.58 for the year, down from their previous forecast of $61.59. The consensus estimate for Everest Group’s current full-year earnings is $58.28 per share. Zacks Research also issued estimates for Everest Group’s Q4 2024 earnings at $11.79 EPS, Q3 2025 earnings at $12.20 EPS, FY2025 earnings at $67.04 EPS, Q2 2026 earnings at $21.33 EPS and Q3 2026 earnings at $16.66 EPS.

A number of other research analysts have also weighed in on EG. BMO Capital Markets reduced their target price on Everest Group from $383.00 to $372.00 and set a “market perform” rating for the company in a report on Thursday, November 14th. Jefferies Financial Group upped their target price on shares of Everest Group from $440.00 to $457.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Barclays cut their price target on shares of Everest Group from $527.00 to $517.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Bank of America decreased their price target on shares of Everest Group from $496.00 to $485.00 and set a “buy” rating on the stock in a report on Thursday, October 10th. Finally, Keefe, Bruyette & Woods dropped their price objective on Everest Group from $454.00 to $438.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Everest Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $434.10.

Everest Group Stock Performance

NYSE EG opened at $389.00 on Monday. The firm has a market cap of $16.72 billion, a P/E ratio of 6.09, a price-to-earnings-growth ratio of 2.84 and a beta of 0.63. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.22. The company’s 50 day moving average is $380.77 and its 200-day moving average is $380.80. Everest Group has a 12-month low of $343.76 and a 12-month high of $417.92.

Institutional Trading of Everest Group

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Mizuho Securities USA LLC raised its holdings in Everest Group by 12,263.1% in the third quarter. Mizuho Securities USA LLC now owns 415,400 shares of the company’s stock worth $162,766,000 after buying an additional 412,040 shares during the last quarter. World Investment Advisors LLC bought a new position in Everest Group in the 3rd quarter valued at approximately $120,564,000. Boston Partners boosted its stake in Everest Group by 29.1% during the 1st quarter. Boston Partners now owns 1,197,457 shares of the company’s stock valued at $475,750,000 after purchasing an additional 269,665 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Everest Group by 442.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 308,155 shares of the company’s stock worth $120,744,000 after purchasing an additional 251,337 shares in the last quarter. Finally, William Blair Investment Management LLC raised its stake in shares of Everest Group by 30.2% in the second quarter. William Blair Investment Management LLC now owns 580,171 shares of the company’s stock worth $221,057,000 after purchasing an additional 134,517 shares during the last quarter. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Insiders Place Their Bets

In related news, Director William F. Galtney, Jr. acquired 2,870 shares of the stock in a transaction on Monday, November 4th. The stock was acquired at an average cost of $348.64 per share, for a total transaction of $1,000,596.80. Following the completion of the acquisition, the director now directly owns 32,822 shares of the company’s stock, valued at approximately $11,443,062.08. This represents a 9.58 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO James Allan Williamson sold 200 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $370.00, for a total value of $74,000.00. Following the completion of the transaction, the chief operating officer now owns 15,009 shares of the company’s stock, valued at approximately $5,553,330. The trade was a 1.32 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.

Everest Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th will be given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date is Wednesday, November 27th. Everest Group’s payout ratio is 12.52%.

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.