Everest Group (NYSE:EG) Sets New 12-Month High - Still a Buy?

Everest Group, Ltd. (NYSE:EG - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $359.94 and last traded at $358.79, with a volume of 386757 shares trading hands. The stock had previously closed at $359.29.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. UBS Group decreased their target price on shares of Everest Group from $375.00 to $372.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 9th. Wells Fargo & Company dropped their target price on shares of Everest Group from $370.00 to $362.00 and set an "equal weight" rating for the company in a report on Thursday, April 10th. BMO Capital Markets lowered Everest Group from an "outperform" rating to a "market perform" rating and cut their price target for the stock from $453.00 to $375.00 in a research note on Thursday, January 30th. Barclays lowered their price objective on Everest Group from $470.00 to $394.00 and set an "overweight" rating on the stock in a research report on Friday, April 11th. Finally, Jefferies Financial Group raised Everest Group from a "hold" rating to a "buy" rating and lifted their target price for the company from $376.00 to $415.00 in a research note on Friday, April 11th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $396.00.

Everest Group Stock Up 3.2 %

The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.40 and a current ratio of 0.40. The firm has a market capitalization of $16.64 billion, a PE ratio of 11.08, a PEG ratio of 0.24 and a beta of 0.43. The company has a fifty day moving average price of $353.32 and a 200-day moving average price of $359.39.

Everest Group (NYSE:EG - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $6.45 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 for the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter last year, the business earned $16.32 EPS. Everest Group's revenue for the quarter was up 3.1% compared to the same quarter last year. As a group, analysts expect that Everest Group, Ltd. will post 47.93 earnings per share for the current year.

Everest Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 17th were given a dividend of $2.00 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $8.00 dividend on an annualized basis and a yield of 2.30%. Everest Group's dividend payout ratio (DPR) is presently 25.47%.

Insider Activity

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

Institutional Investors Weigh In On Everest Group

Several hedge funds and other institutional investors have recently modified their holdings of EG. Sunbelt Securities Inc. bought a new position in Everest Group in the 4th quarter valued at $29,000. SBI Securities Co. Ltd. purchased a new stake in shares of Everest Group during the fourth quarter valued at $31,000. Tsfg LLC bought a new position in Everest Group in the 1st quarter worth about $33,000. Optiver Holding B.V. purchased a new position in Everest Group during the 4th quarter worth $51,000. Finally, Bruce G. Allen Investments LLC lifted its stake in Everest Group by 79.1% in the first quarter. Bruce G. Allen Investments LLC now owns 154 shares of the company's stock worth $56,000 after acquiring an additional 68 shares during the period. 92.64% of the stock is currently owned by hedge funds and other 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.