Everest Group, Ltd. (NYSE:EG - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the twelve analysts that are currently covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $400.83.
A number of brokerages recently commented on EG. Barclays upped their price target on shares of Everest Group from $394.00 to $398.00 and gave the company an "overweight" rating in a research note on Monday, July 7th. Raymond James Financial restated a "strong-buy" rating and set a $410.00 price target (down from $420.00) on shares of Everest Group in a research note on Tuesday, May 6th. Morgan Stanley upped their price target on shares of Everest Group from $330.00 to $350.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. UBS Group dropped their price target on shares of Everest Group from $372.00 to $370.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 9th. Finally, Jefferies Financial Group upgraded shares of Everest Group from a "hold" rating to a "buy" rating and increased their target price for the stock from $376.00 to $415.00 in a research note on Friday, April 11th.
Read Our Latest Report on EG
Everest Group Stock Performance
Shares of EG stock traded down $4.15 during trading on Friday, reaching $331.65. 318,747 shares of the company's stock traded hands, compared to its average volume of 304,663. The company has a market capitalization of $14.11 billion, a P/E ratio of 17.60, a PEG ratio of 0.26 and a beta of 0.50. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.24. The firm's 50-day moving average is $337.88 and its 200 day moving average is $345.92. Everest Group has a 1 year low of $320.00 and a 1 year high of $407.30.
Everest Group (NYSE:EG - Get Free Report) last announced 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 analysts' expectations of $4.22 billion. Everest Group had a net margin of 4.56% and a return on equity of 5.89%. Everest Group's revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the company posted $16.85 EPS. Equities research analysts expect that Everest Group will post 47.93 EPS for the current year.
Everest Group Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Wednesday, May 28th were issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Wednesday, May 28th. Everest Group's payout ratio is currently 42.46%.
Insider Activity
In related news, CEO James Allan Williamson acquired 1,000 shares of the company's stock in a transaction dated Wednesday, June 11th. The stock was bought at an average cost of $337.97 per share, with a total value of $337,970.00. Following the acquisition, the chief executive officer owned 25,618 shares of the company's stock, valued at approximately $8,658,115.46. The trade was a 4.06% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.10% of the company's stock.
Institutional Trading of Everest Group
A number of hedge funds have recently made changes to their positions in the stock. Truist Financial Corp raised its position in Everest Group by 16.9% in the 1st 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 period. Fifth Third Bancorp raised its position in Everest Group by 18.1% in the 1st quarter. Fifth Third Bancorp now owns 1,151 shares of the company's stock worth $418,000 after purchasing an additional 176 shares during the period. Envestnet Asset Management Inc. raised its position in Everest Group by 12.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 172,718 shares of the company's stock worth $62,753,000 after purchasing an additional 18,780 shares during the period. Wedge Capital Management L L P NC raised its position in 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 period. Finally, SG Americas Securities LLC raised its position in Everest Group by 127.3% in the 1st quarter. SG Americas Securities LLC now owns 5,842 shares of the company's stock worth $2,123,000 after purchasing an additional 3,272 shares during the period. 92.64% of the stock is owned by institutional investors.
Everest Group Company Profile
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Get Free ReportEverest 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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