Everest Group, Ltd. (NYSE:EG) Receives Consensus Rating of “Hold” from Analysts

Shares of Everest Group, Ltd. (NYSE:EG) have received a consensus recommendation of “Hold” from the sixteen ratings firms that are currently covering the company, MarketBeat Ratings reports. Twelve equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $395.2667.

Several analysts recently commented on the company. Wells Fargo & Company raised their target price on Everest Group from $373.00 to $396.00 and gave the stock an “equal weight” rating in a report on Friday, July 31st. Cantor Fitzgerald boosted their price target on Everest Group from $344.00 to $390.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Citigroup upped their price objective on Everest Group from $395.00 to $415.00 and gave the stock a “neutral” rating in a research report on Friday, July 31st. Evercore set a $377.00 target price on shares of Everest Group in a report on Thursday, July 30th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Everest Group from $411.00 to $414.00 and gave the company an “outperform” rating in a report on Wednesday, July 8th.

Everest Group Trading Up 0.3%

Shares of Everest Group stock opened at $372.22 on Friday. The stock has a market cap of $14.27 billion, a PE ratio of 7.87, a price-to-earnings-growth ratio of 0.73 and a beta of 0.28. The firm has a fifty day moving average price of $374.65 and a 200 day moving average price of $351.19. Everest Group has a 1 year low of $302.44 and a 1 year high of $401.07. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.35 and a quick ratio of 0.35.

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

Everest Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Wednesday, September 9th will be given a dividend of $2.00 per share. The ex-dividend date is Wednesday, September 9th. This represents a $8.00 dividend on an annualized basis and a yield of 2.1%. Everest Group’s dividend payout ratio is currently 16.92%.

Institutional Trading of Everest Group

Institutional investors and hedge funds have recently made changes to their positions in the business. California State Teachers Retirement System lifted its holdings in Everest Group by 29,666.3% during the second quarter. California State Teachers Retirement System now owns 18,597,394 shares of the company’s stock valued at $6,643,547,000 after purchasing an additional 18,534,916 shares in the last quarter. BlackRock Inc. purchased a new position in Everest Group in the 2nd quarter valued at about $1,150,555,000. AQR Capital Management LLC lifted its stake in Everest Group by 70.3% in the 3rd quarter. AQR Capital Management LLC now owns 2,011,033 shares of the company’s stock valued at $695,275,000 after buying an additional 830,418 shares in the last quarter. State Street Corp boosted its holdings in Everest Group by 0.4% in the 4th quarter. State Street Corp now owns 1,906,692 shares of the company’s stock worth $647,036,000 after buying an additional 7,806 shares during the last quarter. Finally, Norges Bank purchased a new stake in Everest Group during the 4th quarter worth approximately $630,277,000. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Everest Group Company Profile

Everest Group, Ltd. (NYSE: EG) is a global insurance and reinsurance company headquartered in Hamilton, Bermuda. Through its operating subsidiaries, the company provides property and casualty insurance and reinsurance products to businesses, insurers and other institutional clients.

Everest’s reinsurance operations cover a range of property, casualty and specialty risks, while its insurance business offers commercial coverage in areas such as property, casualty, specialty, marine, accident and health.