Everest Group, Ltd. (NYSE:EG – Get Free Report) has received a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are presently covering the company, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $398.09.
EG has been the subject of a number of recent research reports. Barclays decreased their price target on shares of Everest Group from $470.00 to $394.00 and set an “overweight” rating for the company in a research note on Friday, April 11th. Evercore ISI lowered their price target on Everest Group from $400.00 to $396.00 and set an “in-line” rating on the stock in a report on Thursday, May 1st. Jefferies Financial Group upgraded Everest Group from a “hold” rating to a “buy” rating and boosted their price target for the company from $376.00 to $415.00 in a research report on Friday, April 11th. UBS Group decreased their price objective on Everest Group from $375.00 to $372.00 and set a “neutral” rating for the company in a research report on Wednesday, April 9th. Finally, Morgan Stanley boosted their target price on Everest Group from $330.00 to $350.00 and gave the company an “equal weight” rating in a report on Monday, May 19th.
View Our Latest Stock Report on EG
Everest Group Stock Performance
Everest Group (NYSE:EG – Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $6.45 EPS for the quarter, missing the consensus estimate of $7.46 by ($1.01). The firm had revenue of $4.26 billion for the quarter, compared to analyst estimates of $3.89 billion. Everest Group had a return on equity of 9.04% and a net margin of 7.95%. The company’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period last year, the firm earned $16.32 EPS. Analysts predict that Everest Group will post 47.93 earnings per share for the current year.
Everest Group Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Wednesday, May 28th were issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date was Wednesday, May 28th. Everest Group’s dividend payout ratio is currently 41.15%.
Insiders Place Their Bets
In other news, Director Geraldine Losquadro sold 1,500 shares of the business’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $360.63, for a total value of $540,945.00. Following the completion of the transaction, the director now directly owns 12,279 shares of the company’s stock, valued at $4,428,175.77. The trade was a 10.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO James Allan Williamson acquired 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 11th. The shares were bought at an average cost of $337.97 per share, for a total transaction of $337,970.00. Following the purchase, the chief executive officer now owns 25,618 shares of the company’s stock, valued at approximately $8,658,115.46. The trade was a 4.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.10% of the stock is owned by company insiders.
Institutional Investors Weigh In On Everest Group
Hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. raised its holdings in Everest Group by 39.9% in the 4th quarter. JPMorgan Chase & Co. now owns 109,775 shares of the company’s stock valued at $39,789,000 after acquiring an additional 31,306 shares during the last quarter. Wedge Capital Management L L P NC grew its position in shares of Everest Group by 14.3% in the first quarter. Wedge Capital Management L L P NC now owns 9,871 shares of the company’s stock valued at $3,586,000 after purchasing an additional 1,235 shares during the period. Commonwealth Equity Services LLC increased its stake in Everest Group by 25.4% in the fourth quarter. Commonwealth Equity Services LLC now owns 12,055 shares of the company’s stock valued at $4,369,000 after purchasing an additional 2,438 shares during the last quarter. Brandywine Global Investment Management LLC lifted its position in Everest Group by 108.5% during the fourth quarter. Brandywine Global Investment Management LLC now owns 12,423 shares of the company’s stock worth $4,503,000 after buying an additional 6,466 shares during the period. Finally, Atria Wealth Solutions Inc. acquired a new stake in Everest Group in the 4th quarter worth about $325,000. 92.64% of the stock is currently owned by hedge funds and other institutional investors.
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.
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