Brokerages Set Everest Group, Ltd. (NYSE:EG) PT at $438.09

Shares of Everest Group, Ltd. (NYSE:EG) have earned a consensus rating of “Moderate Buy” from the nine ratings firms that are presently covering the company, Marketbeat reports. Four analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $438.09.

A number of equities research analysts have weighed in on EG shares. BMO Capital Markets reissued a “market perform” rating and issued a $403.00 price target on shares of Everest Group in a report on Friday, August 30th. Wells Fargo & Company raised their target price on shares of Everest Group from $392.00 to $393.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Bank of America boosted their price objective on Everest Group from $470.00 to $493.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Barclays started coverage on shares of Everest Group in a report on Wednesday, September 4th. They issued an “overweight” rating and a $527.00 target price for the company. Finally, Morgan Stanley cut their price target on shares of Everest Group from $450.00 to $445.00 and set an “overweight” rating on the stock in a report on Wednesday, July 10th.

Hedge Funds Weigh In On Everest Group

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. bought a new stake in shares of Everest Group during the 4th quarter worth about $1,886,055,000. Wellington Management Group LLP acquired a new stake in shares of Everest Group in the 4th quarter valued at $751,457,000. Boston Partners increased its holdings in shares of Everest Group by 29.1% during the first quarter. Boston Partners now owns 1,197,457 shares of the company’s stock worth $475,750,000 after buying an additional 269,665 shares in the last quarter. Franklin Resources Inc. acquired a new stake in Everest Group during the 4th quarter valued at $373,130,000. Finally, AQR Capital Management LLC lifted its position in shares of Everest Group by 1.8% during the second quarter. AQR Capital Management LLC now owns 1,032,479 shares of the company’s stock worth $393,395,000 after purchasing an additional 17,885 shares in the last quarter. Institutional investors and hedge funds own 92.64% of the company’s stock.

Everest Group Price Performance

NYSE EG opened at $379.10 on Tuesday. Everest Group has a 12 month low of $343.76 and a 12 month high of $417.92. The firm has a market capitalization of $16.47 billion, a PE ratio of 5.63, a P/E/G ratio of 2.50 and a beta of 0.62. The company’s 50 day simple moving average is $380.19 and its 200 day simple moving average is $379.11. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.38 and a quick ratio of 0.38.

Everest Group (NYSE:EG) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $16.85 earnings per share (EPS) for the quarter, missing the consensus estimate 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 net margin of 18.36% and a return on equity of 24.09%. The firm’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same quarter last year, the business posted $15.21 earnings per share. As a group, equities research analysts forecast that Everest Group will post 61.76 EPS for the current fiscal year.

Everest Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Monday, September 16th will be paid a $2.00 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $8.00 dividend on an annualized basis and a yield of 2.11%. Everest Group’s dividend payout ratio (DPR) is currently 11.89%.

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.