Everest Group (NYSE:EG) Given New $445.00 Price Target at Morgan Stanley

Everest Group (NYSE:EGFree Report) had its price target decreased by Morgan Stanley from $450.00 to $445.00 in a research note published on Wednesday morning, Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

A number of other equities analysts have also issued reports on the company. Wells Fargo & Company lowered their price target on 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 raised their price target on Everest Group from $445.00 to $457.00 and gave the stock an outperform rating in a report on Wednesday, April 10th. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Everest Group presently has an average rating of Moderate Buy and an average target price of $431.56.

Read Our Latest Stock Report on EG

Everest Group Stock Performance

Shares of EG stock opened at $378.15 on Wednesday. The stock’s 50-day moving average is $380.20 and its two-hundred day moving average is $375.34. The firm has a market cap of $16.43 billion, a price-to-earnings ratio of 5.62, a PEG ratio of 3.26 and a beta of 0.63. Everest Group has a 1 year low of $343.36 and a 1 year high of $417.92. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.38 and a current ratio of 0.38.

Everest Group (NYSE:EGGet Free Report) last released its quarterly earnings results on Monday, April 29th. The company reported $16.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $15.98 by $0.34. Everest Group had a return on equity of 24.86% and a net margin of 18.69%. The firm had revenue of $4.13 billion for the quarter, compared to analyst estimates of $4.05 billion. During the same quarter last year, the company posted $11.31 earnings per share. The business’s revenue was up 25.8% on a year-over-year basis. Analysts predict that Everest Group will post 61.78 earnings per share for the current year.

Everest Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Wednesday, May 29th were paid a $2.00 dividend. The ex-dividend date of this dividend was Wednesday, May 29th. This is an increase from Everest Group’s previous quarterly dividend of $1.75. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.12%. Everest Group’s payout ratio is 11.89%.

Institutional Trading of Everest Group

A number of institutional investors have recently modified their holdings of EG. Intech Investment Management LLC acquired a new position in Everest Group during the fourth quarter worth $18,995,000. Dai ichi Life Insurance Company Ltd acquired a new position in Everest Group during the fourth quarter worth $1,271,000. Tower Research Capital LLC TRC acquired a new position in Everest Group during the fourth quarter worth $2,372,000. Corient Private Wealth LLC acquired a new position in Everest Group during the fourth quarter worth $7,139,000. Finally, Perpetual Ltd raised its holdings in Everest Group by 92.0% during the first quarter. Perpetual Ltd now owns 4,724 shares of the company’s stock worth $1,878,000 after purchasing an additional 2,264 shares during the last quarter. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

About Everest Group

(Get Free Report)

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.

See Also

Analyst Recommendations for Everest Group (NYSE:EG)

Receive News & Ratings for Everest Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Everest Group and related companies with MarketBeat.com's FREE daily email newsletter.