Everest Group (NYSE:EG) Given Market Perform Rating at BMO Capital Markets

BMO Capital Markets reissued their market perform rating on shares of Everest Group (NYSE:EG) in a report released on Friday morning, Benzinga reports. They currently have a $403.00 price objective on the stock.

Other equities research analysts have also issued reports about the company. TD Cowen dropped their price target on Everest Group from $419.00 to $405.00 and set a hold rating on the stock in a research report on Tuesday, August 13th. Morgan Stanley reduced their target price on shares of Everest Group from $450.00 to $445.00 and set an overweight rating on the stock in a research report on Wednesday, July 10th. Keefe, Bruyette & Woods decreased their price target on shares of Everest Group from $454.00 to $438.00 and set an outperform rating for the company in a research note on Thursday, August 8th. Bank of America increased their price target on shares of Everest Group from $470.00 to $493.00 and gave the stock a buy rating in a research note on Thursday, July 11th. Finally, Wells Fargo & Company increased their price target on shares of Everest Group from $392.00 to $393.00 and gave the stock an equal weight rating in a research note on Monday, August 12th. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Everest Group presently has an average rating of Moderate Buy and a consensus target price of $431.00.

Everest Group Trading Up 0.5 %

NYSE:EG opened at $392.24 on Friday. The company has a 50-day moving average price of $378.27 and a 200-day moving average price of $378.04. The stock has a market cap of $17.05 billion, a price-to-earnings ratio of 5.83, a P/E/G ratio of 2.26 and a beta of 0.63. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.24. Everest Group has a 12 month low of $343.76 and a 12 month high of $417.92.

Everest Group (NYSE:EG) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $16.85 EPS for the quarter, missing the consensus estimate of $16.97 by ($0.12). The company had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.32 billion. Everest Group had a return on equity of 24.09% and a net margin of 18.36%. The business’s quarterly revenue was up 15.8% on a year-over-year basis. During the same quarter last year, the business earned $15.21 earnings per share. Equities analysts predict that Everest Group will post 61.69 EPS for the current year.

Everest Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Monday, September 16th will be paid a dividend of $2.00 per share. The ex-dividend date is Monday, September 16th. This represents a $8.00 dividend on an annualized basis and a yield of 2.04%. Everest Group’s dividend payout ratio is currently 11.89%.

Institutional Trading of Everest Group

Institutional investors and hedge funds have recently bought and sold shares of the company. Intech Investment Management LLC purchased a new stake in shares of Everest Group during the 4th quarter valued at about $18,995,000. Dai ichi Life Insurance Company Ltd purchased a new stake in shares of Everest Group during the 4th quarter valued at about $1,271,000. Tower Research Capital LLC TRC purchased a new stake in shares of Everest Group during the 4th quarter valued at about $2,372,000. Corient Private Wealth LLC purchased a new stake in shares of Everest Group during the 4th quarter valued at about $7,139,000. Finally, Perpetual Ltd boosted its holdings in shares of Everest Group by 92.0% during the 1st quarter. Perpetual Ltd now owns 4,724 shares of the company’s stock valued at $1,878,000 after acquiring an additional 2,264 shares during the last quarter. 92.64% of the stock is currently 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.