Analysts Issue Forecasts for Everest Group FY2024 Earnings

Everest Group, Ltd. (NYSE:EG) – Research analysts at Zacks Research lowered their FY2024 earnings per share (EPS) estimates for Everest Group in a research note issued to investors on Wednesday, November 20th. Zacks Research analyst T. De now expects that the company will earn $59.58 per share for the year, down from their prior forecast of $61.59. The consensus estimate for Everest Group’s current full-year earnings is $58.28 per share. Zacks Research also issued estimates for Everest Group’s Q4 2024 earnings at $11.79 EPS, Q3 2025 earnings at $12.20 EPS, FY2025 earnings at $67.04 EPS, Q2 2026 earnings at $21.33 EPS and Q3 2026 earnings at $16.66 EPS.

A number of other equities analysts have also weighed in on EG. Bank of America dropped their target price on shares of Everest Group from $496.00 to $485.00 and set a “buy” rating for the company in a research report on Thursday, October 10th. Barclays dropped their price objective on shares of Everest Group from $527.00 to $517.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. TD Cowen reduced their target price on Everest Group from $444.00 to $419.00 and set a “hold” rating on the stock in a report on Monday, November 18th. Wells Fargo & Company dropped their price target on Everest Group from $406.00 to $402.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 5th. Finally, Jefferies Financial Group lifted their price objective on Everest Group from $440.00 to $457.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Everest Group has a consensus rating of “Moderate Buy” and an average price target of $434.10.

Everest Group Trading Up 1.0 %

EG stock opened at $389.00 on Monday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.40 and a quick ratio of 0.40. Everest Group has a 1-year low of $343.76 and a 1-year high of $417.92. The business has a 50 day simple moving average of $380.77 and a two-hundred day simple moving average of $380.80. The company has a market capitalization of $16.72 billion, a price-to-earnings ratio of 6.09, a PEG ratio of 2.84 and a beta of 0.63.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Mizuho Securities USA LLC grew its stake in Everest Group by 12,263.1% in the 3rd quarter. Mizuho Securities USA LLC now owns 415,400 shares of the company’s stock worth $162,766,000 after acquiring an additional 412,040 shares in the last quarter. World Investment Advisors LLC bought a new position in Everest Group in the third quarter worth approximately $120,564,000. Boston Partners increased its holdings in Everest Group by 29.1% during the 1st quarter. Boston Partners now owns 1,197,457 shares of the company’s stock worth $475,750,000 after purchasing an additional 269,665 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Everest Group by 442.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 308,155 shares of the company’s stock valued at $120,744,000 after purchasing an additional 251,337 shares in the last quarter. Finally, William Blair Investment Management LLC lifted its holdings in shares of Everest Group by 30.2% in the 2nd quarter. William Blair Investment Management LLC now owns 580,171 shares of the company’s stock worth $221,057,000 after buying an additional 134,517 shares during the period. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Insider Buying and Selling at Everest Group

In other Everest Group news, Director William F. Galtney, Jr. bought 2,870 shares of Everest Group stock in a transaction on Monday, November 4th. The shares were acquired at an average price of $348.64 per share, for a total transaction of $1,000,596.80. Following the completion of the purchase, the director now directly owns 32,822 shares in the company, valued at approximately $11,443,062.08. This trade represents a 9.58 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Mike Karmilowicz sold 269 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $348.48, for a total transaction of $93,741.12. Following the sale, the executive vice president now directly owns 12,726 shares of the company’s stock, valued at $4,434,756.48. This represents a 2.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.

Everest Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th will be paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 2.06%. The ex-dividend date is Wednesday, November 27th. 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.