Analysts Set Everest Group, Ltd. (NYSE:EG) PT at $432.11

Everest Group, Ltd. (NYSE:EG) has earned a consensus recommendation of “Moderate Buy” from the seven analysts that are currently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $432.11.

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company decreased their price target on shares of Everest Group from $402.00 to $397.00 and set an “equal weight” rating on the stock in a report on Thursday, April 11th. Keefe, Bruyette & Woods boosted their target price on shares of Everest Group from $445.00 to $457.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Finally, Morgan Stanley dropped their target price on shares of Everest Group from $466.00 to $450.00 and set an “overweight” rating on the stock in a research report on Monday, April 15th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of EG. Vanguard Group Inc. purchased a new stake in shares of Everest Group in the fourth quarter valued at about $1,886,055,000. Wellington Management Group LLP purchased a new stake in Everest Group during the fourth quarter worth about $751,457,000. Franklin Resources Inc. purchased a new stake in Everest Group during the fourth quarter worth about $373,130,000. Boston Partners purchased a new stake in Everest Group during the fourth quarter worth about $328,064,000. Finally, Norges Bank purchased a new stake in Everest Group during the fourth quarter worth about $202,271,000. Institutional investors and hedge funds own 92.64% of the company’s stock.

Everest Group Price Performance

Shares of NYSE:EG opened at $381.02 on Thursday. The firm has a 50 day moving average of $379.77 and a 200-day moving average of $374.89. The stock has a market capitalization of $16.56 billion, a PE ratio of 5.66, a PEG ratio of 3.34 and a beta of 0.62. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.25. Everest Group has a 12 month low of $332.92 and a 12 month high of $417.92.

Everest Group (NYSE:EG) last issued its earnings results on Monday, April 29th. The company reported $16.32 EPS for the quarter, beating the consensus estimate of $15.98 by $0.34. The company had revenue of $4.13 billion during the quarter, compared to analysts’ expectations of $4.05 billion. Everest Group had a net margin of 18.69% and a return on equity of 24.86%. The business’s revenue for the quarter was up 25.8% compared to the same quarter last year. During the same period in the previous year, the company earned $11.31 EPS. On average, equities research analysts predict that Everest Group will post 61.65 EPS for the current fiscal year.

Everest Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Wednesday, May 29th were issued a dividend of $2.00 per share. This is an increase from Everest Group’s previous quarterly dividend of $1.75. The ex-dividend date was Wednesday, May 29th. This represents a $8.00 annualized dividend and a yield of 2.10%. Everest Group’s dividend payout ratio is presently 11.89%.

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.