Everest Group (NYSE:EG) Raised to Hold at UBS Group

UBS Group upgraded shares of Everest Group (NYSE:EG) to a hold rating in a research report report published on Wednesday, Zacks.com reports.

Other equities analysts also recently issued research reports about the stock. Jefferies Financial Group boosted their target price on shares of Everest Group from $440.00 to $457.00 and gave the stock a buy rating in a research note on Wednesday. Keefe, Bruyette & Woods lowered their target price 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. Morgan Stanley lowered their target price on shares of Everest Group from $450.00 to $445.00 and set an overweight rating for the company in a research note on Wednesday, July 10th. BMO Capital Markets reiterated a market perform rating and set a $403.00 target price on shares of Everest Group in a research note on Friday, August 30th. Finally, Wells Fargo & Company boosted their target price on shares of Everest Group from $393.00 to $406.00 and gave the stock an equal weight rating in a research note on Thursday. Five research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $439.27.

Everest Group Stock Performance

NYSE:EG opened at $393.96 on Wednesday. The company has a fifty day simple moving average of $382.90 and a two-hundred day simple moving average of $380.69. The company has a market cap of $16.96 billion, a price-to-earnings ratio of 5.82, a price-to-earnings-growth ratio of 2.70 and a beta of 0.61. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.24. Everest Group has a 52 week low of $343.76 and a 52 week high of $417.92.

Everest Group (NYSE:EG) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $16.85 EPS for the quarter, missing the consensus estimate of $16.97 by ($0.12). The business had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.32 billion. Everest Group had a return on equity of 24.09% and a net margin of 18.36%. The business’s revenue was up 15.8% on a year-over-year basis. During the same quarter last year, the firm earned $15.21 EPS. As a group, equities analysts anticipate that Everest Group will post 61.78 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Monday, September 16th were given a $2.00 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $8.00 dividend on an annualized basis and a yield of 2.03%. Everest Group’s dividend payout ratio (DPR) is presently 11.81%.

Institutional Investors Weigh In On Everest Group

A number of institutional investors and hedge funds have recently made changes to their positions in EG. Trail Ridge Investment Advisors LLC purchased a new stake in shares of Everest Group in the fourth quarter valued at about $402,000. Quarry LP purchased a new stake in shares of Everest Group in the fourth quarter valued at about $71,000. V Square Quantitative Management LLC purchased a new position in Everest Group during the fourth quarter worth about $195,000. American Trust purchased a new position in Everest Group during the fourth quarter worth about $544,000. Finally, Teachers Retirement System of The State of Kentucky purchased a new position in Everest Group during the fourth quarter worth about $1,312,000. 92.64% of the stock is owned by hedge funds and other 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.