Everest Group, Ltd. (EG) to Issue Quarterly Dividend of $2.00 on March 28th

Everest Group, Ltd. (NYSE:EG) announced a quarterly dividend on Thursday, February 27th, RTT News reports. Stockholders of record on Monday, March 17th will be paid a dividend of 2.00 per share on Friday, March 28th. This represents a $8.00 annualized dividend and a dividend yield of 2.26%. The ex-dividend date is Monday, March 17th.

Everest Group has raised its dividend by an average of 7.7% annually over the last three years. Everest Group has a dividend payout ratio of 12.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Everest Group to earn $62.48 per share next year, which means the company should continue to be able to cover its $8.00 annual dividend with an expected future payout ratio of 12.8%.

Everest Group Trading Up 1.7 %

Shares of EG stock opened at $353.45 on Friday. The stock’s 50-day moving average price is $352.65 and its 200-day moving average price is $370.08. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.26. Everest Group has a 12-month low of $327.37 and a 12-month high of $407.30. The stock has a market capitalization of $15.19 billion, a price-to-earnings ratio of 11.25, a price-to-earnings-growth ratio of 0.24 and a beta of 0.65.

Everest Group (NYSE:EG) last announced its earnings results on Monday, February 3rd. The company reported ($18.39) earnings per share (EPS) for the quarter, missing the consensus estimate of $11.64 by ($30.03). Everest Group had a net margin of 7.95% and a return on equity of 9.04%. Equities research analysts predict that Everest Group will post 47.93 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have issued reports on EG. Keefe, Bruyette & Woods boosted their target price on Everest Group from $420.00 to $434.00 and gave the company an “outperform” rating in a research report on Friday, January 10th. Barclays upped their price target on Everest Group from $461.00 to $470.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Morgan Stanley reaffirmed an “equal weight” rating and set a $340.00 price target (down from $425.00) on shares of Everest Group in a research report on Wednesday, February 5th. Jefferies Financial Group downgraded Everest Group from a “buy” rating to a “hold” rating and upped their price target for the stock from $420.00 to $429.00 in a research report on Tuesday, November 26th. Finally, BMO Capital Markets downgraded Everest Group from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $453.00 to $375.00 in a research report on Thursday, January 30th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $416.50.

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.