Everest Group, Ltd. (EG) To Go Ex-Dividend on May 28th

Everest Group, Ltd. (NYSE:EG) declared a quarterly dividend on Thursday, May 15th, RTT News reports. Stockholders of record on Wednesday, May 28th will be paid a dividend of 2.00 per share on Friday, June 13th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend is Wednesday, May 28th.

Everest Group has raised its dividend payment by an average of 7.7% per year over the last three years and has raised its dividend annually for the last 1 consecutive years. Everest Group has a payout ratio of 13.1% 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 Price Performance

Everest Group stock opened at $348.22 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.40 and a current ratio of 0.40. The stock has a market capitalization of $14.81 billion, a price-to-earnings ratio of 11.09, a PEG ratio of 0.24 and a beta of 0.58. The stock’s 50 day moving average price is $351.38 and its two-hundred day moving average price is $356.96. Everest Group has a 52-week low of $320.00 and a 52-week high of $407.30.

Everest Group (NYSE:EG) last released its quarterly earnings results on Wednesday, April 30th. The company reported $6.45 EPS for the quarter, missing analysts’ consensus estimates of $7.46 by ($1.01). The company had revenue of $4.26 billion during the quarter, compared to analysts’ expectations of $3.89 billion. Everest Group had a net margin of 7.95% and a return on equity of 9.04%. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the company posted $16.32 earnings per share. On average, equities analysts predict that Everest Group will post 47.93 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. BMO Capital Markets cut Everest Group from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $453.00 to $375.00 in a research report on Thursday, January 30th. Evercore ISI dropped their target price on shares of Everest Group from $400.00 to $396.00 and set an “in-line” rating for the company in a report on Thursday, May 1st. Morgan Stanley restated an “equal weight” rating and issued a $340.00 price objective (down previously from $425.00) on shares of Everest Group in a report on Wednesday, February 5th. Jefferies Financial Group raised Everest Group from a “hold” rating to a “buy” rating and upped their price target for the company from $376.00 to $415.00 in a report on Friday, April 11th. Finally, UBS Group reduced their price target on shares of Everest Group from $375.00 to $372.00 and set a “neutral” rating for the company in a research report on Wednesday, April 9th. Six research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $397.18.

Insider Buying and Selling at Everest Group

In related news, Director Geraldine Losquadro sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $360.63, for a total transaction of $540,945.00. Following the sale, the director now owns 12,279 shares in the company, valued at approximately $4,428,175.77. This trade represents a 10.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is owned by company insiders.

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.