Everest Group (NYSE:EG) Shares Down 2.5%

Everest Group, Ltd. (NYSE:EG) traded down 2.5% during mid-day trading on Tuesday . The company traded as low as $369.02 and last traded at $369.02. 21,545 shares were traded during mid-day trading, a decline of 93% from the average session volume of 325,721 shares. The stock had previously closed at $378.62.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods increased 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. Morgan Stanley decreased their price target on Everest Group from $466.00 to $450.00 and set an “overweight” rating for the company in a report on Monday, April 15th. Finally, Wells Fargo & Company dropped their price objective on Everest Group from $402.00 to $397.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 11th. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $432.11.

Everest Group Stock Down 1.3 %

The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.25. The stock’s 50-day moving average price is $379.89 and its 200-day moving average price is $374.95. The company has a market cap of $15.85 billion, a P/E ratio of 5.42, a PEG ratio of 3.24 and a beta of 0.63.

Everest Group (NYSE:EG) last announced its quarterly earnings results on Monday, April 29th. The company reported $16.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $15.98 by $0.34. The business had revenue of $4.13 billion for the quarter, compared to analyst estimates of $4.05 billion. Everest Group had a return on equity of 24.86% and a net margin of 18.69%. The company’s quarterly revenue was up 25.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $11.31 earnings per share. As a group, research analysts forecast that Everest Group, Ltd. will post 61.65 EPS for the current year.

Everest Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Wednesday, May 29th were paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date was Wednesday, May 29th. This is a positive change from Everest Group’s previous quarterly dividend of $1.75. Everest Group’s payout ratio is 11.89%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. acquired a new stake in shares of Everest Group in the 4th quarter worth about $1,886,055,000. Wellington Management Group LLP bought a new position in shares of Everest Group in 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. Boston Partners purchased a new stake in Everest Group in the 4th quarter valued at $328,064,000. Finally, Norges Bank purchased a new position in Everest Group during the 4th quarter worth $202,271,000. 92.64% of the stock is owned by institutional investors.

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.