Everest Group (NYSE:EG) Announces Quarterly Earnings Results, Beats Expectations By $0.34 EPS

Everest Group (NYSE:EG) released its quarterly earnings data on Monday. The company reported $16.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $15.98 by $0.34, Briefing.com reports. Everest Group had a return on equity of 25.05% and a net margin of 17.26%. The firm had revenue of $4.13 billion during the quarter, compared to analyst estimates of $4.05 billion. During the same period in the prior year, the company posted $11.31 earnings per share. The business’s revenue for the quarter was up 25.8% compared to the same quarter last year.

Everest Group Stock Down 2.8 %

NYSE EG traded down $10.29 during trading hours on Tuesday, hitting $358.82. 97,187 shares of the company traded hands, compared to its average volume of 364,900. The business’s 50-day moving average is $375.85 and its 200-day moving average is $379.41. Everest Group has a twelve month low of $331.08 and a twelve month high of $417.92. The stock has a market capitalization of $19.11 billion, a price-to-earnings ratio of 6.18, a P/E/G ratio of 3.22 and a beta of 0.56. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.37 and a current ratio of 0.37.

Everest Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Tuesday, March 19th were given a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend was Monday, March 18th. Everest Group’s dividend payout ratio is presently 11.72%.

Insider Buying and Selling

In other Everest Group news, Director Roger M. Singer purchased 500 shares of the business’s stock in a transaction on Monday, February 12th. The stock was acquired at an average price of $357.21 per share, with a total value of $178,605.00. Following the acquisition, the director now directly owns 16,920 shares of the company’s stock, valued at approximately $6,043,993.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Everest Group news, COO James Allan Williamson purchased 700 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was bought at an average cost of $352.50 per share, for a total transaction of $246,750.00. Following the completion of the transaction, the chief operating officer now owns 11,749 shares in the company, valued at $4,141,522.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Roger M. Singer purchased 500 shares of Everest Group stock in a transaction that occurred on Monday, February 12th. The shares were bought at an average cost of $357.21 per share, for a total transaction of $178,605.00. Following the transaction, the director now directly owns 16,920 shares of the company’s stock, valued at $6,043,993.20. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 2,485 shares of company stock worth $874,786. Company insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on EG. TD Cowen initiated coverage on shares of Everest Group in a research note on Wednesday, January 10th. They issued a “market perform” rating and a $421.00 target price for the company. Morgan Stanley decreased their price target on Everest Group from $466.00 to $450.00 and set an “overweight” rating on the stock in a report on Monday, April 15th. Citigroup cut Everest Group from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $452.00 to $375.00 in a report on Monday, February 12th. Wells Fargo & Company lowered their price target on shares of Everest Group from $402.00 to $397.00 and set an “equal weight” rating for the company in a research report on Thursday, April 11th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Everest Group from $445.00 to $457.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $432.11.

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.