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

Shares of Everest Group, Ltd. (NYSE:EG) have earned an average recommendation of “Hold” from the sixteen analysts that are presently covering the stock, Marketbeat Ratings reports. Eleven research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $409.50.

Several research analysts recently commented on the stock. Wells Fargo & Company raised their price target on shares of Everest Group from $373.00 to $396.00 and gave the company an “equal weight” rating in a report on Friday, July 31st. TD Cowen increased their price objective on shares of Everest Group from $365.00 to $385.00 and gave the stock a “hold” rating in a research report on Wednesday, August 19th. Keefe, Bruyette & Woods raised their target price on shares of Everest Group from $411.00 to $414.00 and gave the company an “outperform” rating in a research note on Wednesday, July 8th. Mizuho reduced their target price on shares of Everest Group from $418.00 to $416.00 and set a “neutral” rating on the stock in a report on Friday, July 31st. Finally, Atlantic Securities set a $484.00 price target on shares of Everest Group in a research report on Wednesday, July 15th.

Institutional Investors Weigh In On Everest Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in shares of Everest Group during the 2nd quarter valued at about $1,150,555,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in Everest Group in the 2nd quarter worth approximately $350,718,000. Balyasny Asset Management L.P. grew its position in Everest Group by 181.2% in the fourth quarter. Balyasny Asset Management L.P. now owns 498,697 shares of the company’s stock valued at $169,233,000 after acquiring an additional 321,376 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in Everest Group in the second quarter valued at approximately $171,426,000. Finally, Hsbc Holdings PLC raised its stake in shares of Everest Group by 507.4% during the first quarter. Hsbc Holdings PLC now owns 449,919 shares of the company’s stock valued at $147,102,000 after purchasing an additional 375,846 shares during the period. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Everest Group Stock Performance

Shares of NYSE:EG opened at $367.04 on Wednesday. The business has a 50-day moving average of $372.90 and a two-hundred day moving average of $356.32. The firm has a market capitalization of $14.07 billion, a PE ratio of 7.76, a P/E/G ratio of 0.55 and a beta of 0.26. 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 has a 12 month low of $302.44 and a 12 month high of $401.07.

Everest Group (NYSE:EG) last released its quarterly earnings data on Tuesday, June 30th. The company reported $14.85 earnings per share for the quarter. Everest Group had a return on equity of 13.63% and a net margin of 11.41%.The business had revenue of $3.96 billion for the quarter. As a group, research analysts forecast that Everest Group will post 53.88 earnings per share for the current year.

Everest Group Announces Dividend

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