Everest Group, Ltd. (NYSE:EG) Announces $2.00 Quarterly Dividend

Everest Group, Ltd. (NYSE:EG) declared a quarterly dividend on Wednesday, November 5th. Investors of record on Wednesday, November 26th will be given a dividend of 2.00 per share on Friday, December 12th. This represents a c) dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Wednesday, November 26th.

Everest Group has increased its dividend by an average of 0.1%annually 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% indicating that 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

EG stock opened at $321.85 on Thursday. Everest Group has a 12 month low of $302.44 and a 12 month high of $392.78. 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 company has a 50-day moving average price of $341.64 and a 200 day moving average price of $340.57. The stock has a market cap of $13.50 billion, a PE ratio of 24.51, a P/E/G ratio of 0.25 and a beta of 0.48.

Everest Group (NYSE:EG) last released its quarterly earnings results on Monday, October 27th. The company reported $7.54 EPS for the quarter, missing analysts’ consensus estimates of $13.39 by ($5.85). Everest Group had a return on equity of 3.81% and a net margin of 3.12%.The firm had revenue of $4.32 billion for the quarter, compared to analysts’ expectations of $3.86 billion. During the same period in the prior year, the firm posted $11.80 earnings per share. Everest Group’s revenue for the quarter was up .8% on a year-over-year basis. Equities research analysts anticipate that Everest Group will post 47.93 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently commented on EG. UBS Group dropped their price target 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. Wolfe Research raised shares of Everest Group from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, October 29th. Wells Fargo & Company decreased their price target on shares of Everest Group from $383.00 to $343.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 29th. Citigroup began coverage on shares of Everest Group in a research note on Wednesday, August 13th. They set a “neutral” rating and a $362.00 price target for the company. Finally, Wall Street Zen downgraded shares of Everest Group from a “buy” rating to a “hold” rating in a research note on Sunday. Five investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $372.36.

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.