Analysts Set Everest Group, Ltd. (NYSE:EG) Price Target at $389.80

Key Points

• Everest Group, Ltd. has received a consensus rating of "Hold" from analysts, with one sell, seven hold, five buy, and one strong buy recommendations.
• The company's quarterly earnings surpassed expectations, reporting $17.36 EPS against an expected $15.14, with a revenue of $4.49 billion, a year-over-year increase of 6.2%.
• Everest Group declared a quarterly dividend of $2.00 per share, representing an annualized yield of 2.4% and a payout ratio of 42.46%.

Everest Group, Ltd. (NYSE:EG - Get Free Report) has been given an average rating of "Hold" by the fourteen ratings firms that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and six have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $387.4667.

Several research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods lifted their price target on shares of Everest Group from $405.00 to $416.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 6th. Wells Fargo & Company reaffirmed a "mixed" rating on shares of Everest Group in a research note on Monday, August 4th. Barclays upped their target price on shares of Everest Group from $394.00 to $398.00 and gave the company an "overweight" rating in a report on Monday, July 7th. 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 price target on the stock. Finally, Wolfe Research raised shares of Everest Group to a "strong sell" rating in a report on Tuesday, September 16th.

Institutional Trading of Everest Group

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Truist Financial Corp increased its holdings in Everest Group by 16.9% in the 1st quarter. Truist Financial Corp now owns 108,596 shares of the company's stock valued at $39,456,000 after purchasing an additional 15,660 shares during the last quarter. Fifth Third Bancorp increased its position in shares of Everest Group by 18.1% in the first quarter. Fifth Third Bancorp now owns 1,151 shares of the company's stock worth $418,000 after acquiring an additional 176 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake 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 worth $62,753,000 after buying an additional 18,780 shares during the last quarter. Wedge Capital Management L L P NC grew its holdings in shares of Everest Group by 14.3% in the 1st quarter. Wedge Capital Management L L P NC now owns 9,871 shares of the company's stock worth $3,586,000 after purchasing an additional 1,235 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in shares of Everest Group by 127.3% in the 1st quarter. SG Americas Securities LLC now owns 5,842 shares of the company's stock valued at $2,123,000 after acquiring an additional 3,272 shares during the period. Hedge funds and other institutional investors own 92.64% of the company's stock.

Everest Group Stock Performance

EG traded up $4.90 during midday trading on Friday, reaching $339.73. The company's stock had a trading volume of 20,990 shares, compared to its average volume of 394,463. The company has a fifty day simple moving average of $336.61 and a 200 day simple moving average of $342.99. Everest Group has a twelve month low of $320.00 and a twelve month high of $407.30. The stock has a market cap of $14.25 billion, a P/E ratio of 18.04, a PEG ratio of 0.25 and a beta of 0.51. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.24.

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

Everest Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Wednesday, September 3rd were issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Wednesday, September 3rd. Everest Group's dividend payout ratio (DPR) is currently 42.46%.

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.