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

Shares of Everest Group, Ltd. (NYSE:EG) have received an average recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the company, Marketbeat reports. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $438.82.

A number of equities analysts have commented on EG shares. Barclays began coverage on Everest Group in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $527.00 price objective on the stock. Wells Fargo & Company increased their price objective 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. 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. BMO Capital Markets reiterated a “market perform” rating and set a $403.00 target price on shares of Everest Group in a research report on Friday, August 30th. Finally, Bank of America raised their price target on shares of Everest Group from $470.00 to $493.00 and gave the company a “buy” rating in a report on Thursday, July 11th.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of EG. American National Bank bought a new stake in shares of Everest Group in the second quarter worth about $27,000. M&R Capital Management Inc. bought a new stake in Everest Group during the 3rd quarter worth approximately $29,000. Bruce G. Allen Investments LLC raised its holdings in Everest Group by 200.0% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 78 shares of the company’s stock worth $31,000 after buying an additional 52 shares during the period. Massmutual Trust Co. FSB ADV bought a new position in Everest Group in the first quarter valued at approximately $33,000. Finally, American National Bank & Trust boosted its holdings in shares of Everest Group by 80.0% in the third quarter. American National Bank & Trust now owns 126 shares of the company’s stock valued at $49,000 after buying an additional 56 shares during the period. Institutional investors and hedge funds own 92.64% of the company’s stock.

Everest Group Stock Up 4.2 %

EG opened at $389.58 on Friday. The firm has a market cap of $16.93 billion, a price-to-earnings ratio of 5.79, a PEG ratio of 2.76 and a beta of 0.61. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.38 and a current ratio of 0.38. The firm’s 50-day simple moving average is $381.79 and its 200-day simple moving average is $380.58. Everest Group has a twelve month low of $343.76 and a twelve month high of $417.92.

Everest Group (NYSE:EG) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $16.85 earnings per share 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 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 period in the previous year, the business posted $15.21 EPS. Equities research analysts anticipate that Everest Group will post 61.66 EPS for the current fiscal year.

Everest Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Monday, September 16th were paid a dividend of $2.00 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.05%. Everest Group’s dividend payout ratio (DPR) is presently 11.89%.

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.