Everest Group, Ltd. (NYSE:EG) Receives $397.18 Consensus Price Target from Analysts

Everest Group, Ltd. (NYSE:EG - Get Free Report) has been given a consensus rating of "Moderate Buy" by the eleven ratings firms that are covering the company, MarketBeat reports. Six investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $398.09.

EG has been the topic of a number of recent research reports. Wells Fargo & Company reduced their price objective on shares of Everest Group from $362.00 to $361.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 6th. Keefe, Bruyette & Woods decreased their price objective on Everest Group from $434.00 to $402.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Barclays dropped their price objective on Everest Group from $470.00 to $394.00 and set an "overweight" rating for the company in a report on Friday, April 11th. Evercore ISI reduced their target price on Everest Group from $400.00 to $396.00 and set an "in-line" rating on the stock in a report on Thursday, May 1st. Finally, Morgan Stanley boosted their target price on Everest Group from $330.00 to $350.00 and gave the stock an "equal weight" rating in a research report on Monday.

Everest Group Trading Down 2.0%

Everest Group stock traded down $6.95 during mid-day trading on Friday, hitting $340.56. The stock had a trading volume of 483,963 shares, compared to its average volume of 382,165. The stock has a 50-day simple moving average of $351.33 and a two-hundred day simple moving average of $356.72. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $14.49 billion, a PE ratio of 10.84, a P/E/G ratio of 0.24 and a beta of 0.58. Everest Group has a 12 month low of $320.00 and a 12 month high of $407.30.

Everest Group (NYSE:EG - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $6.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.46 by ($1.01). Everest Group had a net margin of 7.95% and a return on equity of 9.04%. The business had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same period last year, the business posted $16.32 EPS. The firm's revenue for the quarter was up 3.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Everest Group will post 47.93 EPS for the current year.

Everest Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Wednesday, May 28th will be paid a dividend of $2.00 per share. The ex-dividend date is Wednesday, May 28th. This represents a $8.00 dividend on an annualized basis and a yield of 2.35%. Everest Group's payout ratio is 41.15%.

Insiders Place Their Bets

In other Everest Group news, Director Geraldine Losquadro sold 1,500 shares of Everest Group stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $360.63, for a total value of $540,945.00. Following the sale, the director now owns 12,279 shares of the company's stock, valued at $4,428,175.77. This trade represents a 10.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.10% of the company's stock.

Hedge Funds Weigh In On Everest Group

A number of large investors have recently bought and sold shares of the company. Geneos Wealth Management Inc. lifted its position in shares of Everest Group by 98.9% in the first quarter. Geneos Wealth Management Inc. now owns 181 shares of the company's stock worth $66,000 after purchasing an additional 90 shares in the last quarter. Bayforest Capital Ltd increased its stake in Everest Group by 1,946.0% in the 1st quarter. Bayforest Capital Ltd now owns 1,780 shares of the company's stock valued at $647,000 after buying an additional 1,693 shares during the last quarter. SCS Capital Management LLC bought a new stake in Everest Group during the 1st quarter worth about $236,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Everest Group by 6.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 358,168 shares of the company's stock worth $130,133,000 after buying an additional 20,122 shares during the last quarter. Finally, Optimize Financial Inc acquired a new position in shares of Everest Group during the 1st quarter worth about $378,000. Institutional investors and hedge funds own 92.64% of the company's stock.

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.