Everest Group, Ltd. (NYSE:EG) Given Average Recommendation of “Moderate Buy” by Brokerages

Everest Group, Ltd. (NYSE:EG) has been assigned an average recommendation of “Moderate Buy” from the nine brokerages that are presently covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $438.09.

A number of brokerages have recently issued reports on EG. BMO Capital Markets reaffirmed a “market perform” rating and issued a $403.00 target price on shares of Everest Group in a report on Friday, August 30th. Barclays started coverage on shares of Everest Group in a report on Wednesday, September 4th. They issued an “overweight” rating and a $527.00 price target on the stock. Keefe, Bruyette & Woods lowered their price target on shares of Everest Group from $454.00 to $438.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Wells Fargo & Company increased their price target on shares of Everest Group from $392.00 to $393.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Finally, TD Cowen lowered their price target on shares of Everest Group from $419.00 to $405.00 and set a “hold” rating on the stock in a report on Tuesday, August 13th.

Everest Group Stock Up 2.3 %

Shares of EG stock opened at $389.43 on Tuesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.38 and a current ratio of 0.38. The firm’s 50-day moving average is $380.58 and its 200-day moving average is $379.36. The stock has a market cap of $16.85 billion, a price-to-earnings ratio of 5.79, a PEG ratio of 2.64 and a beta of 0.62. Everest Group has a 52-week low of $343.76 and a 52-week high of $417.92.

Everest Group (NYSE:EG) last issued its earnings results on Wednesday, July 31st. The company reported $16.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $16.97 by ($0.12). The firm had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.32 billion. Everest Group had a net margin of 18.36% and a return on equity of 24.09%. The firm’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same period in the previous year, the company posted $15.21 earnings per share. Sell-side analysts predict that Everest Group will post 61.66 EPS for the current year.

Everest Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Monday, September 16th will be given a dividend of $2.00 per share. The ex-dividend date is Monday, September 16th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.05%. Everest Group’s payout ratio is presently 11.89%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. American National Bank acquired a new position in shares of Everest Group during the 2nd quarter worth approximately $27,000. Heritage Wealth Advisors acquired a new stake in shares of Everest Group during the 4th quarter worth approximately $30,000. FinTrust Capital Advisors LLC acquired a new stake in shares of Everest Group during the 4th quarter worth approximately $33,000. Massmutual Trust Co. FSB ADV acquired a new stake in shares of Everest Group during the 1st quarter worth approximately $33,000. Finally, Benjamin F. Edwards & Company Inc. acquired a new stake in shares of Everest Group during the 4th quarter worth approximately $35,000. Institutional investors and hedge funds 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.