Analysts Set Everest Group, Ltd. (NYSE:EG) PT at $435.44

Everest Group, Ltd. (NYSE:EG) has received an average rating of “Moderate Buy” from the seven ratings firms that are presently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $432.11.

A number of analysts have recently issued reports on EG shares. Wells Fargo & Company dropped their price target 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. Citigroup downgraded Everest Group from a “buy” rating to a “neutral” rating and dropped their price target for the company from $452.00 to $375.00 in a research report on Monday, February 12th. TD Cowen started coverage on 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. Morgan Stanley dropped their price target on Everest Group from $466.00 to $450.00 and set an “overweight” rating for the company in a research report on Monday, April 15th. Finally, Keefe, Bruyette & Woods lifted their price target on Everest Group from $445.00 to $457.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th.

Everest Group Stock Up 2.8 %

EG stock opened at $370.26 on Friday. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $19.72 billion, a PE ratio of 6.20, a PEG ratio of 3.15 and a beta of 0.56. Everest Group has a twelve month low of $331.08 and a twelve month high of $417.92. The stock has a 50-day simple moving average of $375.96 and a two-hundred day simple moving average of $380.16.

Everest Group (NYSE:EG) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $25.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $14.63 by $10.55. The firm had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.85 billion. Everest Group had a return on equity of 25.05% and a net margin of 17.26%. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter last year, the company posted $12.21 EPS. On average, equities analysts predict that Everest Group will post 61.21 EPS for the current fiscal year.

Everest Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Tuesday, March 19th were paid a $1.75 dividend. This represents a $7.00 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend was Monday, March 18th. Everest Group’s dividend payout ratio is currently 11.72%.

Insiders Place Their Bets

In related news, CEO Mike Karmilowicz acquired 285 shares of the company’s 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 completion of the purchase, the chief executive officer now owns 10,586 shares in the company, valued at approximately $3,730,400.54. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. In related news, COO James Allan Williamson acquired 700 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was purchased at an average price of $352.50 per share, with a total value of $246,750.00. Following the completion of the purchase, the chief operating officer now owns 11,749 shares in the company, valued at approximately $4,141,522.50. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Mike Karmilowicz acquired 285 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were bought at an average cost of $352.39 per share, with a total value of $100,431.15. Following the purchase, the chief executive officer now owns 10,586 shares of the company’s stock, valued at approximately $3,730,400.54. The disclosure for this purchase can be found here. Insiders bought a total of 2,485 shares of company stock valued at $874,786 over the last quarter. 1.40% of the stock is owned by corporate insiders.

Institutional Trading of Everest Group

Institutional investors have recently made changes to their positions in the stock. Allworth Financial LP bought a new position in shares of Everest Group during the fourth quarter valued at approximately $25,000. Avior Wealth Management LLC bought a new position in shares of Everest Group during the fourth quarter valued at approximately $25,000. Headlands Technologies LLC bought a new position in shares of Everest Group during the fourth quarter valued at approximately $25,000. Janiczek Wealth Management LLC bought a new position in shares of Everest Group during the fourth quarter valued at approximately $27,000. Finally, Trifecta Capital Advisors LLC bought a new position in shares of Everest Group during the fourth quarter valued at approximately $28,000. Hedge funds and other institutional investors own 92.64% 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.