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

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

EG has been the subject of several research reports. Morgan Stanley reduced their price target 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. Keefe, Bruyette & Woods boosted their target price on shares of Everest Group from $445.00 to $457.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. TD Cowen began coverage on shares of Everest Group in a research report on Wednesday, January 10th. They issued a “market perform” rating and a $421.00 price target on the stock. Wells Fargo & Company decreased their price objective on Everest Group from $402.00 to $397.00 and set an “equal weight” rating for the company in a report on Thursday, April 11th. Finally, Citigroup lowered Everest Group from a “buy” rating to a “neutral” rating and dropped their target price for the company from $452.00 to $375.00 in a report on Monday, February 12th.

Everest Group Price Performance

EG stock opened at $378.75 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.35 and a quick ratio of 0.37. The company’s 50-day moving average is $376.48 and its 200-day moving average is $377.96. The stock has a market capitalization of $20.17 billion, a PE ratio of 5.63, a price-to-earnings-growth ratio of 3.25 and a beta of 0.57. Everest Group has a 1 year low of $331.08 and a 1 year high of $417.92.

Everest Group (NYSE:EG) last announced its quarterly earnings results on Monday, April 29th. The company reported $16.32 earnings per share (EPS) for the quarter, topping 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 business had revenue of $4.13 billion for the quarter, compared to analyst estimates of $4.05 billion. During the same quarter in the prior year, the company earned $11.31 earnings per share. The company’s quarterly revenue was up 25.8% on a year-over-year basis. Equities research analysts expect that Everest Group will post 61.49 EPS for the current fiscal year.

Everest Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Tuesday, March 19th were given a dividend of $1.75 per share. This represents a $7.00 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend was Monday, March 18th. Everest Group’s payout ratio is 10.40%.

Insider Buying and Selling

In other news, COO James Allan Williamson bought 700 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was acquired at an average cost of $352.50 per share, with a total value of $246,750.00. Following the completion of the transaction, the chief operating officer now directly owns 11,749 shares of the company’s stock, valued at approximately $4,141,522.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Everest Group news, Director Roger M. Singer purchased 500 shares of the stock in a transaction dated Monday, February 12th. The shares were bought at an average price of $357.21 per share, with a total value of $178,605.00. Following the completion of the transaction, the director now directly owns 16,920 shares in the company, valued at approximately $6,043,993.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO James Allan Williamson purchased 700 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were acquired at an average price of $352.50 per share, for a total transaction of $246,750.00. Following the completion of the purchase, the chief operating officer now directly owns 11,749 shares in the company, valued at approximately $4,141,522.50. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 2,485 shares of company stock worth $874,786. 1.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Everest Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. New York State Common Retirement Fund purchased a new stake in Everest Group during the 4th quarter worth about $13,273,000. Victory Capital Management Inc. purchased a new stake in shares of Everest Group in the fourth quarter worth about $40,865,000. Avidian Wealth Solutions LLC bought a new position in shares of Everest Group in the fourth quarter valued at approximately $836,000. Everence Capital Management Inc. bought a new position in shares of Everest Group in the fourth quarter valued at approximately $1,004,000. Finally, OVERSEA CHINESE BANKING Corp Ltd purchased a new position in Everest Group during the fourth quarter valued at approximately $904,000. Institutional investors 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.