Everest Group (NYSE:EG) Trading Up 4.7% Following Analyst Upgrade

Shares of Everest Group, Ltd. (NYSE:EG) traded up 4.7% during mid-day trading on Wednesday after Jefferies Financial Group raised their price target on the stock from $440.00 to $457.00. Jefferies Financial Group currently has a buy rating on the stock. Everest Group traded as high as $391.99 and last traded at $391.20. 295,797 shares were traded during trading, a decline of 12% from the average session volume of 336,440 shares. The stock had previously closed at $373.73.

A number of other analysts have also issued reports on the company. Wells Fargo & Company lifted their price target on Everest Group from $392.00 to $393.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. Morgan Stanley decreased their target price 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. Keefe, Bruyette & Woods dropped their price target on Everest Group from $454.00 to $438.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. BMO Capital Markets reiterated a “market perform” rating and set a $403.00 price objective on shares of Everest Group in a research report on Friday, August 30th. Finally, TD Cowen dropped their target price on Everest Group from $419.00 to $405.00 and set a “hold” rating for the company in a report on Tuesday, August 13th. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Everest Group currently has a consensus rating of “Moderate Buy” and an average target price of $438.82.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Csenge Advisory Group increased its holdings in Everest Group by 2.2% in the second quarter. Csenge Advisory Group now owns 1,239 shares of the company’s stock valued at $472,000 after buying an additional 27 shares during the last quarter. Legend Financial Advisors Inc. boosted its holdings in Everest Group by 1.6% in the second quarter. Legend Financial Advisors Inc. now owns 1,765 shares of the company’s stock valued at $672,000 after purchasing an additional 27 shares in the last quarter. First Trust Direct Indexing L.P. increased its stake in Everest Group by 0.9% in the first quarter. First Trust Direct Indexing L.P. now owns 2,976 shares of the company’s stock valued at $1,183,000 after purchasing an additional 28 shares during the last quarter. Wedmont Private Capital raised its stake in Everest Group by 4.8% during the 3rd quarter. Wedmont Private Capital now owns 638 shares of the company’s stock worth $238,000 after acquiring an additional 29 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its position in Everest Group by 36.9% in the second quarter. Massmutual Trust Co. FSB ADV now owns 115 shares of the company’s stock valued at $44,000 after acquiring an additional 31 shares during the last quarter. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Everest Group Stock Up 4.1 %

The company has a market cap of $16.90 billion, a price-to-earnings ratio of 5.79, a P/E/G ratio of 2.76 and a beta of 0.61. The firm’s 50 day simple moving average is $381.85 and its 200-day simple moving average is $380.52. 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 issued its quarterly earnings results on Wednesday, July 31st. The company reported $16.85 earnings per share for the quarter, missing analysts’ consensus estimates of $16.97 by ($0.12). Everest Group had a return on equity of 24.09% and a net margin of 18.36%. The business had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.32 billion. During the same quarter in the prior year, the company earned $15.21 EPS. The firm’s revenue for the quarter was up 15.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Everest Group, Ltd. will post 61.66 earnings per share for the current year.

Everest Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Monday, September 16th were given a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend was Monday, September 16th. Everest Group’s dividend payout ratio (DPR) 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.