Everest Group, Ltd. (NYSE:EG) Given Average Rating of "Hold" by Analysts

Key Points

• Everest Group, Ltd. has received an average rating of "Hold" from analysts, with one sell rating, ten holds, and five buy ratings given by research firms covering the company.
• The company recently reported quarterly earnings of $17.36 per share, significantly exceeding the consensus estimate of $15.14 and showing a year-over-year revenue increase of 6.2%.
• Everest Group announced a quarterly dividend of $2.00 per share, resulting in an annualized dividend of $8.00 and a yield of 2.2%.

Everest Group, Ltd. (NYSE:EG - Get Free Report) has received an average recommendation of "Hold" from the sixteen research firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $382.7857.

EG has been the topic of several research reports. Wolfe Research raised shares of Everest Group to a "strong sell" rating in a research note on Tuesday, September 16th. UBS Group reduced their price target on shares of Everest Group from $372.00 to $370.00 and set a "neutral" rating for the company in a research note on Wednesday, July 9th. Barclays lifted their price target on shares of Everest Group from $405.00 to $430.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 8th. Weiss Ratings reissued a "hold (c)" rating on shares of Everest Group in a report on Wednesday, October 8th. Finally, Citigroup initiated coverage on shares of Everest Group in a research note on Wednesday, August 13th. They set a "neutral" rating and a $362.00 target price on the stock.

Everest Group Stock Up 1.6%

EG opened at $356.61 on Wednesday. The business's fifty day simple moving average is $342.80 and its 200 day simple moving average is $342.37. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.24. Everest Group has a 52 week low of $320.00 and a 52 week high of $401.82. The stock has a market cap of $14.96 billion, a PE ratio of 18.93, a P/E/G ratio of 0.25 and a beta of 0.48.

Everest Group (NYSE:EG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $17.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $15.14 by $2.22. The business had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.22 billion. Everest Group had a net margin of 4.56% and a return on equity of 5.89%. The company's revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the business posted $16.85 earnings per share. As a group, research analysts expect that Everest Group will post 47.93 earnings per share for the current fiscal year.

Everest Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Wednesday, September 3rd were given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Wednesday, September 3rd. Everest Group's dividend payout ratio is currently 42.46%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of EG. Truist Financial Corp lifted its position in shares of Everest Group by 16.9% during the first quarter. Truist Financial Corp now owns 108,596 shares of the company's stock worth $39,456,000 after purchasing an additional 15,660 shares during the last quarter. Fifth Third Bancorp grew its holdings in shares of Everest Group by 18.1% during the first quarter. Fifth Third Bancorp now owns 1,151 shares of the company's stock valued at $418,000 after buying an additional 176 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Everest Group by 12.2% in the first quarter. Envestnet Asset Management Inc. now owns 172,718 shares of the company's stock valued at $62,753,000 after purchasing an additional 18,780 shares during the period. Sowell Financial Services LLC acquired a new stake in Everest Group during the 1st quarter valued at approximately $231,000. Finally, Praxis Investment Management Inc. boosted its stake in shares of Everest Group by 58.1% in the first quarter. Praxis Investment Management Inc. now owns 4,490 shares of the company's stock worth $1,631,000 after buying an additional 1,650 shares during the last quarter. 92.64% of the stock is currently owned by institutional investors.

Everest Group Company Profile

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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