Everest Group, Ltd. (NYSE:EG) Receives $435.44 Average Target Price from Brokerages

Everest Group, Ltd. (NYSE:EG) has been assigned an average recommendation of “Moderate Buy” from the seven research firms that are currently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $432.11.

Several equities analysts have recently weighed in on EG shares. Citigroup cut shares of Everest Group from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $452.00 to $375.00 in a research note on Monday, February 12th. Morgan Stanley decreased their target price on shares of Everest Group from $466.00 to $450.00 and set an “overweight” rating for the company in a research note on Monday. TD Cowen initiated coverage on shares of Everest Group in a research note on Wednesday, January 10th. They issued a “market perform” rating and a $421.00 target price for the company. Wells Fargo & Company reduced their price objective on shares of Everest Group from $402.00 to $397.00 and set an “equal weight” rating for the company in a research report on Thursday, April 11th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Everest Group from $445.00 to $457.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th.

Insider Activity

In other news, CEO Mike Karmilowicz acquired 285 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was bought at an average price of $352.39 per share, with a total value of $100,431.15. Following the acquisition, the chief executive officer now owns 10,586 shares in the company, valued at approximately $3,730,400.54. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, COO James Allan Williamson bought 700 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was bought at an average price of $352.50 per share, for a total transaction of $246,750.00. Following the transaction, the chief operating officer now directly owns 11,749 shares of the company’s stock, valued at approximately $4,141,522.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mike Karmilowicz bought 285 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was purchased at an average price of $352.39 per share, with a total value of $100,431.15. Following the transaction, the chief executive officer now directly owns 10,586 shares in the company, valued at $3,730,400.54. The disclosure for this purchase can be found here. Insiders acquired a total of 2,485 shares of company stock valued at $874,786 in the last ninety days. 1.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Everest Group

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. purchased a new position in shares of Everest Group during the fourth quarter valued at approximately $1,886,055,000. Wellington Management Group LLP purchased a new position in shares of Everest Group during the fourth quarter valued at approximately $751,457,000. Franklin Resources Inc. purchased a new position in shares of Everest Group during the fourth quarter valued at approximately $373,130,000. Nuveen Asset Management LLC purchased a new position in shares of Everest Group during the fourth quarter valued at approximately $338,804,000. Finally, Boston Partners purchased a new position in shares of Everest Group during the fourth quarter valued at approximately $328,064,000. 92.64% of the stock is owned by hedge funds and other institutional investors.

Everest Group Stock Performance

Everest Group stock opened at $357.20 on Friday. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.26. Everest Group has a 1 year low of $331.08 and a 1 year high of $417.92. The company has a market cap of $19.02 billion, a PE ratio of 5.98, a PEG ratio of 3.17 and a beta of 0.56. The company’s 50-day moving average is $375.51 and its two-hundred day moving average is $380.33.

Everest Group (NYSE:EG) last announced its quarterly earnings results on Wednesday, February 7th. The company reported $25.18 earnings per share for the quarter, beating analysts’ consensus estimates of $14.63 by $10.55. The business had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.85 billion. Everest Group had a net margin of 17.26% and a return on equity of 25.05%. Everest Group’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same period last year, the company posted $12.21 EPS. Equities analysts anticipate that Everest Group will post 61.21 earnings per share for the current year.

Everest Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Tuesday, March 19th were given a dividend of $1.75 per share. This represents a $7.00 annualized dividend and a dividend yield of 1.96%. The ex-dividend date was Monday, March 18th. Everest Group’s dividend payout ratio is presently 11.72%.

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.