Everest Group (NYSE:EG) Announces Earnings Results, Beats Estimates By $0.34 EPS

Everest Group (NYSE:EG) issued its quarterly earnings data on Monday. The company reported $16.32 earnings per share for the quarter, topping the consensus estimate of $15.98 by $0.34, Briefing.com reports. Everest Group had a net margin of 17.26% and a return on equity of 25.05%. The business had revenue of $4.13 billion during the quarter, compared to analysts’ expectations of $4.05 billion. During the same quarter in the previous year, the company earned $11.31 EPS. The business’s revenue was up 25.8% on a year-over-year basis.

Everest Group Price Performance

Shares of EG traded down $9.60 during mid-day trading on Tuesday, reaching $359.51. The company had a trading volume of 119,297 shares, compared to its average volume of 365,138. The company has a market capitalization of $19.15 billion, a price-to-earnings ratio of 6.18, a P/E/G ratio of 3.22 and a beta of 0.56. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.37 and a current ratio of 0.37. The company’s 50 day simple moving average is $375.85 and its 200 day simple moving average is $379.41. Everest Group has a 1-year low of $331.08 and a 1-year high of $417.92.

Everest Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Tuesday, March 19th were paid a dividend of $1.75 per share. This represents a $7.00 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend was Monday, March 18th. Everest Group’s payout ratio is 11.72%.

Insider Buying and Selling

In other news, Director Roger M. Singer purchased 500 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was bought at an average cost of $357.21 per share, for a total transaction of $178,605.00. Following the purchase, the director now owns 16,920 shares of the company’s stock, valued at $6,043,993.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Roger M. Singer purchased 500 shares of Everest Group stock in a transaction dated Monday, February 12th. The shares were bought at an average cost of $357.21 per share, for a total transaction of $178,605.00. Following the completion of the acquisition, the director now owns 16,920 shares in the company, valued at approximately $6,043,993.20. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Mark Kociancic acquired 1,000 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was acquired at an average price of $349.00 per share, with a total value of $349,000.00. Following the acquisition, the chief financial officer now owns 25,733 shares in the company, valued at $8,980,817. The disclosure for this purchase can be found here. Insiders purchased a total of 2,485 shares of company stock worth $874,786 in the last three months. 1.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

EG has been the subject of a number of analyst reports. Wells Fargo & Company dropped their price target 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. Keefe, Bruyette & Woods lifted their price objective on Everest Group from $445.00 to $457.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. TD Cowen initiated coverage on Everest Group in a research report on Wednesday, January 10th. They set a “market perform” rating and a $421.00 target price for the company. Citigroup cut 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 report on Monday, February 12th. Finally, Morgan Stanley cut their price objective on shares of Everest Group from $466.00 to $450.00 and set an “overweight” rating for the company in a research report on Monday, April 15th. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $432.11.

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.