Everest Group, Ltd. (NYSE:EG) Declares $2.00 Dividend

Everest Group, Ltd. (NYSE:EG - Get Free Report) announced a dividend on Wednesday, May 15th, NASDAQ reports. Shareholders of record on Wednesday, May 29th will be paid a dividend of 2.00 per share on Friday, June 14th. The ex-dividend date is Wednesday, May 29th.

Everest Group has raised its dividend payment by an average of 3.1% per year over the last three years and has raised its dividend every year for the last 2 years. Everest Group has a dividend payout ratio of 10.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Everest Group to earn $68.62 per share next year, which means the company should continue to be able to cover its $7.00 annual dividend with an expected future payout ratio of 10.2%.

Everest Group Price Performance

NYSE:EG traded up $13.16 during midday trading on Thursday, hitting $388.27. 353,000 shares of the stock were exchanged, compared to its average volume of 359,179. The business has a 50-day moving average price of $377.79 and a two-hundred day moving average price of $377.61. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $16.87 billion, a price-to-earnings ratio of 5.77, a P/E/G ratio of 3.34 and a beta of 0.57. Everest Group has a one year low of $331.08 and a one year high of $417.92.

Everest Group (NYSE:EG - Get Free Report) last issued its quarterly earnings results on Monday, April 29th. The company reported $16.32 earnings per share for the quarter, beating analysts' consensus estimates of $15.98 by $0.34. The company had revenue of $4.13 billion during the quarter, compared to the consensus estimate of $4.05 billion. Everest Group had a net margin of 18.69% and a return on equity of 24.86%. Everest Group's revenue was up 25.8% on a year-over-year basis. During the same period in the prior year, the company earned $11.31 EPS. Sell-side analysts predict that Everest Group will post 61.64 EPS for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Everest Group from $445.00 to $457.00 and gave the company an "outperform" rating in a research note on Wednesday, April 10th. Morgan Stanley reduced their price objective on Everest Group from $466.00 to $450.00 and set an "overweight" rating for the company in a research note on Monday, April 15th. Wells Fargo & Company decreased their price objective on Everest Group from $402.00 to $397.00 and set an "equal weight" rating for the company in a research report on Thursday, April 11th. Finally, Citigroup downgraded Everest Group from a "buy" rating to a "neutral" rating and dropped their target price for the company from $452.00 to $375.00 in a report on Monday, February 12th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $432.11.

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.

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