Everest Group (NYSE:EG – Free Report) had its target price upped by Wells Fargo & Company from $392.00 to $393.00 in a research report released on Monday morning, Benzinga reports. The firm currently has an equal weight rating on the stock.
EG has been the subject of several other reports. Morgan Stanley cut their target price on shares of Everest Group from $450.00 to $445.00 and set an overweight rating for the company in a report on Wednesday, July 10th. Bank of America lifted their price objective 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. BMO Capital Markets upped their price objective on shares of Everest Group from $387.00 to $403.00 and gave the stock a market perform rating in a research report on Wednesday, August 7th. Finally, Keefe, Bruyette & Woods dropped their target price on Everest Group from $454.00 to $438.00 and set an outperform rating on the stock in a research report on Thursday. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $432.45.
Everest Group Stock Performance
NYSE:EG traded down $3.59 during mid-day trading on Monday, hitting $360.91. The company’s stock had a trading volume of 386,624 shares, compared to its average volume of 337,011. The business’s fifty day moving average is $377.92 and its two-hundred day moving average is $377.57. The stock has a market cap of $15.62 billion, a price-to-earnings ratio of 5.40, a PEG ratio of 2.16 and a beta of 0.63. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.38 and a quick ratio of 0.38. Everest Group has a 1 year low of $343.36 and a 1 year high of $417.92.
Everest Group (NYSE:EG – Get Free Report) last issued its earnings results on Wednesday, July 31st. The company reported $16.85 EPS for the quarter, missing analysts’ consensus estimates of $16.97 by ($0.12). The company had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.32 billion. Everest Group had a return on equity of 24.09% and a net margin of 18.36%. The firm’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $15.21 EPS. Analysts anticipate that Everest Group will post 61.6 EPS for the current fiscal year.
Everest Group Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Monday, September 16th will be paid a dividend of $2.00 per share. The ex-dividend date is Monday, September 16th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.22%. Everest Group’s payout ratio is currently 11.89%.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in EG. Allworth Financial LP acquired a new position in shares of Everest Group in the 4th quarter valued at $25,000. International Assets Investment Management LLC acquired a new position in Everest Group in the fourth quarter valued at $81,260,000. Sequoia Financial Advisors LLC purchased a new position in shares of Everest Group during the fourth quarter worth about $252,000. Mutual of America Capital Management LLC acquired a new stake in shares of Everest Group during the fourth quarter worth about $5,287,000. Finally, Cerity Partners LLC purchased a new stake in shares of Everest Group in the 4th quarter valued at about $8,055,000. 92.64% of the stock is owned by institutional investors and hedge funds.
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.