Everest Group, Ltd. (NYSE:EG) Given Average Recommendation of “Moderate Buy” by Analysts

Everest Group, Ltd. (NYSE:EG) has received a consensus rating of “Moderate Buy” from the eleven research firms that are currently covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $438.36.

Several analysts have weighed in on the company. Keefe, Bruyette & Woods dropped their price objective on Everest Group from $454.00 to $438.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Bank of America lowered their target price on Everest Group from $496.00 to $485.00 and set a “buy” rating for the company in a research note on Thursday, October 10th. Jefferies Financial Group increased their target price on Everest Group from $440.00 to $457.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Morgan Stanley decreased their price target 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. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $403.00 price objective on shares of Everest Group in a report on Friday, August 30th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC grew its position in Everest Group by 163.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,772 shares of the company’s stock valued at $1,897,000 after acquiring an additional 2,964 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Everest Group by 10.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 99,215 shares of the company’s stock valued at $39,438,000 after buying an additional 9,250 shares during the period. Lake Street Private Wealth LLC acquired a new position in Everest Group in the first quarter valued at approximately $1,481,000. Norden Group LLC acquired a new position in Everest Group in the first quarter valued at approximately $222,000. Finally, Wealthstar Advisors LLC lifted its stake in Everest Group by 9.9% in the first quarter. Wealthstar Advisors LLC now owns 913 shares of the company’s stock valued at $363,000 after buying an additional 82 shares during the period. Institutional investors own 92.64% of the company’s stock.

Everest Group Stock Performance

Everest Group stock opened at $350.97 on Wednesday. The stock has a market capitalization of $15.11 billion, a price-to-earnings ratio of 5.49, a P/E/G ratio of 2.50 and a beta of 0.63. Everest Group has a 12-month low of $343.76 and a 12-month high of $417.92. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.22. The stock has a 50-day simple moving average of $386.10 and a 200 day simple moving average of $380.72.

Everest Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Monday, September 16th were given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend was Monday, September 16th. Everest Group’s payout ratio is 12.52%.

About Everest Group

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.