Everest Group, Ltd. (NYSE:EG) Given Consensus Recommendation of “Hold” by Brokerages

Everest Group, Ltd. (NYSE:EG) has been assigned an average rating of “Hold” from the sixteen research firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, ten have given a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $382.7857.

Several analysts recently commented on the stock. Cowen reiterated a “hold” rating on shares of Everest Group in a research note on Tuesday, October 7th. Evercore ISI raised their price objective on shares of Everest Group from $380.00 to $384.00 and gave the company an “in-line” rating in a research note on Wednesday, October 1st. Keefe, Bruyette & Woods raised their price objective on shares of Everest Group from $405.00 to $416.00 and gave the company an “outperform” rating in a research note on Wednesday, August 6th. Wells Fargo & Company raised their price objective on shares of Everest Group from $371.00 to $383.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 8th. Finally, UBS Group reduced their price objective on shares of Everest Group from $372.00 to $370.00 and set a “neutral” rating for the company in a research note on Wednesday, July 9th.

Institutional Investors Weigh In On Everest Group

Several hedge funds have recently modified their holdings of the stock. Farther Finance Advisors LLC boosted its position in shares of Everest Group by 27.3% in the third quarter. Farther Finance Advisors LLC now owns 1,039 shares of the company’s stock worth $364,000 after acquiring an additional 223 shares during the last quarter. Parcion Private Wealth LLC acquired a new stake in shares of Everest Group in the third quarter worth approximately $507,000. Exchange Traded Concepts LLC boosted its position in shares of Everest Group by 2.0% in the third quarter. Exchange Traded Concepts LLC now owns 3,720 shares of the company’s stock worth $1,303,000 after acquiring an additional 73 shares during the last quarter. Kaufman Rossin Wealth LLC acquired a new stake in shares of Everest Group in the third quarter worth approximately $420,000. Finally, Brighton Jones LLC boosted its position in shares of Everest Group by 157.9% in the third quarter. Brighton Jones LLC now owns 6,635 shares of the company’s stock worth $2,324,000 after acquiring an additional 4,062 shares during the last quarter. 92.64% of the stock is owned by institutional investors and hedge funds.

Everest Group Price Performance

Shares of EG opened at $356.61 on Wednesday. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $14.96 billion, a price-to-earnings ratio of 18.93, a PEG ratio of 0.25 and a beta of 0.48. Everest Group has a twelve month low of $320.00 and a twelve month high of $401.82. The firm’s fifty day simple moving average is $342.80 and its 200-day simple moving average is $342.37.

Everest Group (NYSE:EG) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $17.36 EPS for the quarter, beating analysts’ consensus estimates of $15.14 by $2.22. The company had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.22 billion. Everest Group had a net margin of 4.56% and a return on equity of 5.89%. Everest Group’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the business posted $16.85 earnings per share. Equities analysts forecast that Everest Group will post 47.93 EPS for the current fiscal year.

Everest Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Wednesday, September 3rd were issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 2.2%. The ex-dividend date was Wednesday, September 3rd. Everest Group’s dividend payout ratio (DPR) is 42.46%.

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.