Everest Group, Ltd. (NYSE:EG) Receives Consensus Rating of "Hold" from Analysts

Key Points

• Analysts collectively rate Everest Group “Hold,” with 12 hold ratings and five buy ratings among 17 covering brokerages. The average 12-month price target is $409.50, versus the stock’s reported price of $369.19.
• Institutional ownership is substantial at 92.64%, with major investors including BlackRock, Barrow Hanley, William Blair, and Donald Smith establishing or expanding positions.
• Everest Group reported quarterly EPS of $14.85 on $3.96 billion in revenue and declared a $2.00 quarterly dividend, equivalent to an annualized $8.00 payout and a 2.2% yield.

Shares of Everest Group, Ltd. (NYSE:EG - Get Free Report) have received a consensus recommendation of "Hold" from the seventeen brokerages that are covering the stock, Marketbeat.com reports. Twelve research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $409.50.

EG has been the topic of several recent research reports. Atlantic Securities set a $484.00 price target on Everest Group in a report on Wednesday, July 15th. Rosenblatt Securities set a $455.00 price objective on Everest Group in a research note on Tuesday, September 22nd. Evercore set a $377.00 price objective on Everest Group in a research report on Thursday, July 30th. Citigroup upped their target price on shares of Everest Group from $395.00 to $415.00 and gave the stock a "neutral" rating in a research note on Friday, July 31st. Finally, Royal Bank Of Canada assumed coverage on shares of Everest Group in a report on Tuesday, September 22nd. They issued an "outperform" rating and a $455.00 target price on the stock.

Institutional Investors Weigh In On Everest Group

Institutional investors have recently modified their holdings of the company. BlackRock Inc. purchased a new position in Everest Group in the second quarter valued at $1,150,555,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in Everest Group during the 2nd quarter worth about $350,718,000. William Blair Investment Management LLC purchased a new stake in Everest Group during the 2nd quarter worth about $171,426,000. Donald Smith & CO. Inc. acquired a new position in shares of Everest Group during the 2nd quarter worth about $153,206,000. Finally, Hsbc Holdings PLC boosted its position in shares of Everest Group by 507.4% during the 1st quarter. Hsbc Holdings PLC now owns 449,919 shares of the company's stock worth $147,102,000 after acquiring an additional 375,846 shares in the last quarter. 92.64% of the stock is owned by hedge funds and other institutional investors.

Everest Group Stock Performance

NYSE:EG opened at $369.19 on Wednesday. Everest Group has a 52 week low of $302.44 and a 52 week high of $401.07. The company has a fifty day simple moving average of $374.65 and a two-hundred day simple moving average of $354.70. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.23. The company has a market cap of $14.15 billion, a price-to-earnings ratio of 7.81, a price-to-earnings-growth ratio of 0.72 and a beta of 0.28.

Everest Group (NYSE:EG - Get Free Report) last announced its quarterly earnings data on Tuesday, June 30th. The company reported $14.85 earnings per share (EPS) for the quarter. The business had revenue of $3.96 billion for the quarter. Everest Group had a return on equity of 13.63% and a net margin of 11.41%. As a group, equities analysts anticipate that Everest Group will post 53.66 earnings per share for the current fiscal year.

Everest Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Wednesday, September 9th were given a $2.00 dividend. The ex-dividend date of this dividend was Wednesday, September 9th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.2%. Everest Group's dividend payout ratio is currently 16.92%.

Everest Group Company Profile

Everest Group, Ltd. is a global specialty insurance and reinsurance company headquartered in Hamilton, Bermuda. The company provides risk-management and underwriting solutions to businesses, institutions, and insurance companies through its insurance and reinsurance operations.

Everest's products and services include property and casualty insurance, specialty insurance, and reinsurance coverage. Its offerings address a range of risks, including property, casualty, workers' compensation, professional liability, marine, aviation, accident and health, and other specialty exposures.

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