Everest Group, Ltd. (NYSE:EG) Receives $397.14 Average PT from Analysts

Key Points

• Everest Group, Ltd. (NYSE:EG) has received an average recommendation of "Moderate Buy" from thirteen analysts, with a target price averaging $397.14.
• The company reported earnings of $17.36 per share for the last quarter, exceeding analysts' expectations, and has announced a quarterly dividend of $2.00 per share, equating to a 2.3% yield.
• CEO James Allan Williamson purchased 1,000 shares of the stock at $337.97 each, increasing his ownership by 4.06% and reflecting confidence in the company’s future performance.

Shares of Everest Group, Ltd. (NYSE:EG - Get Free Report) have earned an average recommendation of "Moderate Buy" from the thirteen ratings firms that are currently covering the company, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $397.1429.

Several research firms recently issued reports on EG. Keefe, Bruyette & Woods increased their price target on shares of Everest Group from $405.00 to $416.00 and gave the stock an "outperform" rating in a report on Wednesday, August 6th. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $410.00 target price (down previously from $420.00) on shares of Everest Group in a research note on Tuesday, May 6th. Evercore ISI decreased their target price on shares of Everest Group from $400.00 to $396.00 and set an "in-line" rating on the stock in a research report on Thursday, May 1st. Citigroup began coverage on shares of Everest Group in a research report on Wednesday, August 13th. They set a "neutral" rating and a $362.00 target price on the stock. Finally, Wells Fargo & Company reaffirmed a "mixed" rating on shares of Everest Group in a research note on Monday, August 4th.

Insider Transactions at Everest Group

In other news, CEO James Allan Williamson purchased 1,000 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The shares were purchased at an average price of $337.97 per share, with a total value of $337,970.00. Following the purchase, the chief executive officer directly owned 25,618 shares of the company's stock, valued at approximately $8,658,115.46. This represents a 4.06% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in EG. Sunbelt Securities Inc. acquired a new position in shares of Everest Group in the 4th quarter valued at about $29,000. SVB Wealth LLC acquired a new position in shares of Everest Group in the 1st quarter valued at about $30,000. Tsfg LLC acquired a new position in shares of Everest Group in the 1st quarter valued at about $33,000. Zions Bancorporation National Association UT acquired a new position in shares of Everest Group in the 1st quarter valued at about $34,000. Finally, Board of the Pension Protection Fund acquired a new position in shares of Everest Group in the 2nd quarter valued at about $34,000. 92.64% of the stock is owned by institutional investors and hedge funds.

Everest Group Stock Performance

EG traded up $2.28 on Tuesday, reaching $342.16. The company had a trading volume of 220,932 shares, compared to its average volume of 396,306. The stock has a 50-day moving average price of $335.93 and a 200-day moving average price of $343.47. Everest Group has a 1 year low of $320.00 and a 1 year high of $407.30. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $14.35 billion, a PE ratio of 18.16, a P/E/G ratio of 0.25 and a beta of 0.50.

Everest Group (NYSE:EG - Get Free Report) last announced its 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. Everest Group had a net margin of 4.56% and a return on equity of 5.89%. The business had revenue of $4.49 billion during the quarter, compared to analysts' expectations of $4.22 billion. During the same period in the prior year, the company earned $16.85 earnings per share. The business's revenue was up 6.2% compared to the same quarter last year. As a group, research analysts forecast that Everest Group will post 47.93 EPS for the current fiscal year.

Everest Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Wednesday, September 3rd will be paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Wednesday, September 3rd. Everest Group's dividend payout ratio (DPR) is currently 42.46%.

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.