Everest Group, Ltd. Plans Quarterly Dividend of $2.00 (NYSE:EG)

Everest Group, Ltd. (NYSE:EG) announced a quarterly dividend on Thursday, February 27th, RTT News reports. Stockholders of record on Monday, March 17th will be given a dividend of 2.00 per share on Friday, March 28th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.30%.

Everest Group has increased its dividend by an average of 7.7% annually over the last three years. Everest Group has a dividend payout ratio of 12.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Everest Group to earn $62.48 per share next year, which means the company should continue to be able to cover its $8.00 annual dividend with an expected future payout ratio of 12.8%.

Everest Group Price Performance

Shares of NYSE EG opened at $348.15 on Friday. Everest Group has a fifty-two week low of $327.37 and a fifty-two week high of $407.30. The stock has a market capitalization of $14.96 billion, a price-to-earnings ratio of 11.08, a PEG ratio of 0.24 and a beta of 0.65. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.40 and a quick ratio of 0.40. The business has a 50-day moving average of $352.65 and a 200-day moving average of $370.08.

Everest Group (NYSE:EG) last announced its quarterly earnings data on Monday, February 3rd. The company reported ($18.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.64 by ($30.03). Everest Group had a return on equity of 9.04% and a net margin of 7.95%. As a group, sell-side analysts predict that Everest Group will post 47.93 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

EG has been the subject of a number of analyst reports. Morgan Stanley reissued an “equal weight” rating and issued a $340.00 price objective (down previously from $425.00) on shares of Everest Group in a research report on Wednesday, February 5th. Jefferies Financial Group downgraded Everest Group from a “buy” rating to a “hold” rating and boosted their price target for the stock from $420.00 to $429.00 in a research report on Tuesday, November 26th. Keefe, Bruyette & Woods raised their price objective on Everest Group from $420.00 to $434.00 and gave the company an “outperform” rating in a research report on Friday, January 10th. BMO Capital Markets lowered Everest Group from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $453.00 to $375.00 in a report on Thursday, January 30th. Finally, Wells Fargo & Company cut their price target on Everest Group from $390.00 to $380.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $416.50.

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.