Everest Group, Ltd. (NYSE:EG) Stock Has Average Target Price of $409.50 According to Brokerages

Everest Group, Ltd. (NYSE:EG) has been given an average rating of “Hold” by the sixteen analysts that are currently covering the stock, Marketbeat Ratings reports. Eleven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $409.50.

A number of brokerages have issued reports on EG. Evercore set a $377.00 target price on shares of Everest Group in a report on Thursday, July 30th. Morgan Stanley raised their price target on Everest Group from $355.00 to $360.00 and gave the stock an “equal weight” rating in a report on Monday, July 6th. Wells Fargo & Company lifted their price target on Everest Group from $373.00 to $396.00 and gave the company an “equal weight” rating in a research report on Friday, July 31st. Royal Bank Of Canada started coverage on Everest Group in a research note on Tuesday, September 22nd. They set an “outperform” rating and a $455.00 price objective on the stock. Finally, Cantor Fitzgerald increased their price objective on Everest Group from $344.00 to $390.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th.

Institutional Investors Weigh In On Everest Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. Bank of America Corp DE bought a new stake in Everest Group during the 2nd quarter worth approximately $108,102,000. The Manufacturers Life Insurance Company bought a new position in Everest Group in the 2nd quarter valued at $9,122,000. Polianta Ltd bought a new position in Everest Group in the 2nd quarter valued at $2,000,000. William Blair Investment Management LLC purchased a new position in shares of Everest Group during the 2nd quarter valued at $171,426,000. Finally, National Pension Service grew its position in shares of Everest Group by 83.2% during the 2nd quarter. National Pension Service now owns 9,007 shares of the company’s stock valued at $3,218,000 after purchasing an additional 4,090 shares in the last quarter. 92.64% of the stock is owned by hedge funds and other institutional investors.

Everest Group Price Performance

Shares of NYSE:EG opened at $368.29 on Wednesday. The firm has a market capitalization of $14.12 billion, a PE ratio of 7.79, a P/E/G ratio of 0.72 and a beta of 0.26. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.23. The company has a 50-day moving average price of $374.00 and a two-hundred day moving average price of $355.43. Everest Group has a twelve month low of $302.44 and a twelve month high of $401.07.

Everest Group (NYSE:EG) last posted its quarterly earnings results on Tuesday, June 30th. The company reported $14.85 earnings per share (EPS) for the quarter. The company had revenue of $3.96 billion for the quarter. Everest Group had a net margin of 11.41% and a return on equity of 13.63%. Equities analysts forecast that Everest Group will post 53.2 EPS for the current year.

Everest Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Wednesday, September 9th were issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Wednesday, September 9th. Everest Group’s payout ratio is presently 16.92%.

About Everest Group

Everest Group, Ltd. is a global specialty insurance and reinsurance company headquartered in Hamilton, Bermuda. The company provides risk-management and underwriting solutions to businesses, institutions, and insurance companies through its insurance and reinsurance operations.

Everest’s products and services include property and casualty insurance, specialty insurance, and reinsurance coverage. Its offerings address a range of risks, including property, casualty, workers’ compensation, professional liability, marine, aviation, accident and health, and other specialty exposures.