Everest Group (NYSE:EG) Posts Quarterly Earnings Results, Beats Expectations By $0.34 EPS

Everest Group (NYSE:EG) released its earnings results on Monday. The company reported $16.32 EPS for the quarter, topping the consensus estimate of $15.98 by $0.34, Briefing.com reports. Everest Group had a return on equity of 25.84% and a net margin of 18.69%. The business had revenue of $4.13 billion for the quarter, compared to the consensus estimate of $4.05 billion. During the same period in the previous year, the company posted $11.31 earnings per share. The company’s revenue for the quarter was up 25.8% compared to the same quarter last year.

Everest Group Trading Down 0.7 %

Shares of NYSE EG opened at $366.41 on Wednesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.37 and a current ratio of 0.37. The business’s 50 day moving average price is $375.88 and its 200-day moving average price is $379.23. Everest Group has a fifty-two week low of $331.08 and a fifty-two week high of $417.92. The company has a market cap of $19.51 billion, a price-to-earnings ratio of 5.45, a PEG ratio of 3.26 and a beta of 0.56.

Everest Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Tuesday, March 19th were paid a dividend of $1.75 per share. This represents a $7.00 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend was Monday, March 18th. Everest Group’s payout ratio is presently 10.40%.

Insider Transactions at Everest Group

In other Everest Group news, COO James Allan Williamson purchased 700 shares of Everest Group stock in a transaction dated Friday, February 9th. The shares were purchased at an average cost of $352.50 per share, for a total transaction of $246,750.00. Following the completion of the acquisition, 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 document filed with the SEC, which is available at this hyperlink. In other news, COO James Allan Williamson acquired 700 shares of Everest Group stock in a transaction on Friday, February 9th. The shares were bought at an average cost of $352.50 per share, for a total transaction of $246,750.00. Following the acquisition, the chief operating officer now directly owns 11,749 shares of the company’s stock, valued at approximately $4,141,522.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mike Karmilowicz acquired 285 shares of Everest Group stock in a transaction on Friday, February 9th. The shares were purchased at an average price of $352.39 per share, for a total transaction of $100,431.15. Following the completion of the acquisition, the chief executive officer now directly owns 10,586 shares in the company, valued at $3,730,400.54. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 2,485 shares of company stock worth $874,786. 1.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. TD Cowen began coverage on Everest Group in a report on Wednesday, January 10th. They issued a “market perform” rating and a $421.00 target price on the stock. Citigroup cut Everest Group from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $452.00 to $375.00 in a research note on Monday, February 12th. Wells Fargo & Company decreased their price target on Everest Group from $402.00 to $397.00 and set an “equal weight” rating for the company in a research note on Thursday, April 11th. Keefe, Bruyette & Woods boosted their price target on Everest Group from $445.00 to $457.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Finally, Morgan Stanley decreased their price target 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. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average 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.