Everest Group, Ltd. (NYSE:EG) Shareholders to Collect $2.00 Quarterly Dividend

Everest Group, Ltd. (NYSE:EG) announced a quarterly dividend on Wednesday, November 4th. Investors of record on Friday, December 4th will be given a dividend of $2.00 per share on Friday, December 18th. This represents a $8.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Friday, December 4th.

Everest Group has increased its dividend by an average of 0.1% annually over the last three years and has raised its dividend every year for the last 1 years. Everest Group has a payout ratio of 13.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Everest Group to earn $59.45 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 13.5%.

Everest Group Trading Up 2.5%

NYSE EG opened at $420.93 on Thursday. The company has a market cap of $15.59 billion, a price-to-earnings ratio of 8.90, a price-to-earnings-growth ratio of 0.57 and a beta of 0.23. Everest Group has a twelve month low of $304.55 and a twelve month high of $421.52. The company has a quick ratio of 0.35, a current ratio of 0.36 and a debt-to-equity ratio of 0.25. The business’s fifty day moving average is $381.07 and its 200 day moving average is $354.58.

Everest Group (NYSE:EG) last issued its earnings results on Wednesday, October 28th. The company reported $7.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.38 by ($1.76). The firm had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.81 billion. Everest Group had a return on equity of 13.71% and a net margin of 11.70%. Everest Group’s revenue for the quarter was down 14.0% on a year-over-year basis. During the same period in the previous year, the company earned $7.54 EPS. As a group, sell-side analysts expect that Everest Group will post 52.80 EPS for the current fiscal year.

Institutional Investors Weigh In On Everest Group

Hedge funds have recently added to or reduced their stakes in the company. Trifecta Capital Advisors LLC bought a new position in shares of Everest Group in the second quarter valued at approximately $29,000. Provenance Wealth Advisors LLC increased its holdings in Everest Group by 1,283.3% during the 3rd quarter. Provenance Wealth Advisors LLC now owns 83 shares of the company’s stock worth $30,000 after acquiring an additional 77 shares during the period. Root Financial Partners LLC increased its holdings in Everest Group by 70.1% during the 1st quarter. Root Financial Partners LLC now owns 165 shares of the company’s stock worth $54,000 after acquiring an additional 68 shares during the period. USA Financial Formulas bought a new stake in Everest Group during the 3rd quarter worth approximately $77,000. Finally, Transamerica Financial Advisors LLC purchased a new stake in Everest Group in the 2nd quarter worth approximately $80,000. Institutional investors and hedge funds own 92.64% of the company’s stock.

Everest Group Company Profile

Everest Group, Ltd. is a global insurance and reinsurance company that provides property and casualty coverage to businesses, institutions, and other insurers. Its operations focus on assuming and managing risks through reinsurance, as well as offering insurance products in selected specialty and commercial markets.

The company’s reinsurance business supports insurers across lines such as property, casualty, specialty, and other risks. Through its insurance platform, Everest provides coverage for commercial customers and specialty exposures, including property, casualty, professional liability, and other products that may vary by market.