Everest Group, Ltd. (NYSE:EG) Stock Rated "Hold" by Wall Street Analysts

Key Points

• Everest Group holds a consensus “Hold” rating among 16 analysts: 10 recommend holding the stock, while six rate it a buy. The average 12-month price target is $407.94.
• Everest Group reported quarterly EPS of $14.85 on $3.96 billion in revenue, with an 11.41% net margin and 13.63% return on equity.
• The company declared a quarterly dividend of $2.00 per share, equivalent to an annualized $8.00 dividend and a 2.0% yield. Institutional investors own 92.64% of the stock.

Everest Group, Ltd. (NYSE:EG - Get Free Report) has received an average rating of "Hold" from the sixteen brokerages that are presently covering the stock, Marketbeat Ratings reports. Ten research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $407.94.

A number of analysts have issued reports on EG shares. Atlantic Securities set a $484.00 price target on shares of Everest Group in a report on Wednesday, July 15th. Cantor Fitzgerald upped their price objective on Everest Group from $344.00 to $390.00 and gave the stock a "neutral" rating in a report on Thursday, July 9th. UBS Group increased their target price on Everest Group from $374.00 to $395.00 and gave the company a "neutral" rating in a research report on Monday, August 3rd. Citigroup raised their target price on shares of Everest Group from $395.00 to $415.00 and gave the company a "neutral" rating in a report on Friday, July 31st. Finally, Weiss Ratings raised shares of Everest Group from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday.

Everest Group Trading Down 2.2%

Shares of EG stock opened at $398.50 on Friday. Everest Group has a 52-week low of $302.44 and a 52-week high of $409.82. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.35 and a current ratio of 0.35. The firm has a market capitalization of $15.28 billion, a PE ratio of 8.43, a PEG ratio of 0.59 and a beta of 0.26. The stock has a fifty day simple moving average of $375.74 and a two-hundred day simple moving average of $361.56.

Everest Group (NYSE:EG - Get Free Report) last released its quarterly earnings data on Tuesday, June 30th. The company reported $14.85 earnings per share (EPS) for the quarter. Everest Group had a net margin of 11.41% and a return on equity of 13.63%. The firm had revenue of $3.96 billion for the quarter. On average, analysts predict that Everest Group will post 53.69 EPS for the current fiscal year.

Everest Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Wednesday, September 9th were paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Wednesday, September 9th. Everest Group's dividend payout ratio (DPR) is currently 16.92%.

Institutional Trading of Everest Group

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

Everest Group Company Profile

Everest Group, Ltd. is a global insurance and reinsurance company that provides property and casualty coverage to businesses, institutions, and other insurers. Its operations focus on assuming and managing risks through reinsurance, as well as offering insurance products in selected specialty and commercial markets.

The company's reinsurance business supports insurers across lines such as property, casualty, specialty, and other risks. Through its insurance platform, Everest provides coverage for commercial customers and specialty exposures, including property, casualty, professional liability, and other products that may vary by market.

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