Everest Group (NYSE:EG) Announces Earnings Results, Beats Estimates By $0.34 EPS

Everest Group (NYSE:EG - Get Free Report) posted its quarterly earnings data on Monday. The company reported $16.32 EPS for the quarter, beating analysts' consensus estimates of $15.98 by $0.34, Briefing.com reports. The company had revenue of $4.13 billion for the quarter, compared to analyst estimates of $4.05 billion. Everest Group had a net margin of 17.26% and a return on equity of 25.05%. The company's quarterly revenue was up 25.8% on a year-over-year basis. During the same period in the prior year, the firm posted $11.31 EPS.

Everest Group Trading Down 0.7 %

Shares of NYSE EG traded down $2.70 during mid-day trading on Tuesday, hitting $366.41. The stock had a trading volume of 563,295 shares, compared to its average volume of 370,738. The firm has a market cap of $19.51 billion, a P/E ratio of 6.13, a price-to-earnings-growth ratio of 3.22 and a beta of 0.56. The business has a 50 day moving average price of $375.88 and a two-hundred day moving average price of $379.23. Everest Group has a 1 year low of $331.08 and a 1 year high of $417.92. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.37 and a current ratio of 0.37.

Everest Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Tuesday, March 19th were paid a $1.75 dividend. This represents a $7.00 annualized dividend and a dividend yield of 1.91%. The ex-dividend date was Monday, March 18th. Everest Group's payout ratio is 11.72%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. TD Cowen assumed coverage on shares of Everest Group in a research report on Wednesday, January 10th. They set a "market perform" rating and a $421.00 price target for the company. Keefe, Bruyette & Woods increased their target price on shares of Everest Group from $445.00 to $457.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 10th. Wells Fargo & Company cut their price objective on shares of 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. Morgan Stanley lowered their target price on shares of Everest Group from $466.00 to $450.00 and set an "overweight" rating on the stock in a research note on Monday, April 15th. Finally, Citigroup downgraded shares of Everest Group from a "buy" rating to a "neutral" rating and lowered their target price for the company from $452.00 to $375.00 in a research note on Monday, February 12th. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Everest Group has an average rating of "Moderate Buy" and a consensus target price of $432.11.

Insider Activity at Everest Group

In related news, Director Roger M. Singer purchased 500 shares of the business's stock in a transaction that occurred on Monday, February 12th. The shares were acquired at an average price of $357.21 per share, for a total transaction of $178,605.00. Following the completion of the acquisition, the director now directly owns 16,920 shares in the company, valued at approximately $6,043,993.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Mike Karmilowicz purchased 285 shares of the stock in a transaction dated Friday, February 9th. The stock was purchased at an average price of $352.39 per share, with a total value of $100,431.15. Following the transaction, the chief executive officer now directly owns 10,586 shares in the company, valued at $3,730,400.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Roger M. Singer purchased 500 shares of the stock in a transaction dated Monday, February 12th. The stock was bought at an average cost of $357.21 per share, with a total value of $178,605.00. Following the transaction, the director now owns 16,920 shares in the company, valued at $6,043,993.20. The disclosure for this purchase can be found here. Insiders have purchased a total of 2,485 shares of company stock worth $874,786 over the last quarter. Corporate insiders own 1.20% of the company's stock.

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.