Everest Group, Ltd. (NYSE:EG) Receives $438.09 Consensus Price Target from Analysts

by · The Cerbat Gem

Shares of Everest Group, Ltd. (NYSE:EG – Get Free Report) have received a consensus rating of “Moderate Buy” from the ten brokerages that are presently covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $438.82.

A number of research firms recently weighed in on EG. Morgan Stanley decreased their target price on shares of Everest Group from $450.00 to $445.00 and set an “overweight” rating for the company in a research report on Wednesday, July 10th. Wells Fargo & Company lifted their target price on Everest Group from $392.00 to $393.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. TD Cowen reduced their price target on Everest Group from $419.00 to $405.00 and set a “hold” rating for the company in a research report on Tuesday, August 13th. Jefferies Financial Group raised their price target on Everest Group from $440.00 to $457.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Bank of America upped their price objective on Everest Group from $470.00 to $493.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th.

Get Our Latest Research Report on EG

Everest Group Stock Up 4.2 %

EG stock opened at $389.58 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.38 and a quick ratio of 0.38. The stock has a market capitalization of $16.93 billion, a P/E ratio of 5.79, a P/E/G ratio of 2.76 and a beta of 0.61. Everest Group has a fifty-two week low of $343.76 and a fifty-two week high of $417.92. The business has a 50-day moving average of $381.79 and a 200-day moving average of $380.58.

Everest Group (NYSE:EG – Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The company reported $16.85 earnings per share for the quarter, missing analysts’ consensus estimates of $16.97 by ($0.12). The firm had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.32 billion. Everest Group had a return on equity of 24.09% and a net margin of 18.36%. The company’s revenue was up 15.8% compared to the same quarter last year. During the same period last year, the company earned $15.21 EPS. On average, sell-side analysts anticipate that Everest Group will post 61.66 earnings per share for the current fiscal year.

Everest Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Monday, September 16th were paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date was Monday, September 16th. Everest Group’s dividend payout ratio (DPR) is presently 11.89%.

Institutional Trading of Everest Group

A number of hedge funds have recently modified their holdings of EG. Campbell & CO Investment Adviser LLC bought a new position in Everest Group in the 4th quarter valued at about $647,000. The Manufacturers Life Insurance Company acquired a new stake in Everest Group during the 4th quarter worth approximately $17,318,000. NEOS Investment Management LLC acquired a new stake in Everest Group during the 4th quarter worth approximately $217,000. CIBC Asset Management Inc bought a new stake in Everest Group in the 4th quarter valued at $1,986,000. Finally, Rafferty Asset Management LLC acquired a new position in Everest Group in the 4th quarter valued at $5,441,000. Institutional investors and hedge funds own 92.64% of the company’s stock.

About Everest Group

(Get Free Report

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.

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