Everest Group (NYSE:EG) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Everest Group (NYSE:EG) from a hold rating to a buy rating in a research note issued to investors on Saturday.

Several other brokerages have also commented on EG. Keefe, Bruyette & Woods raised their price objective on shares of Everest Group from $405.00 to $416.00 and gave the stock an “outperform” rating in a report on Wednesday, August 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Everest Group in a research report on Wednesday, October 8th. Evercore ISI upped their price target on Everest Group from $380.00 to $384.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 1st. Cowen reaffirmed a “hold” rating on shares of Everest Group in a research note on Tuesday, October 7th. Finally, Wells Fargo & Company boosted their target price on shares of Everest Group from $371.00 to $383.00 and gave the company an “equal weight” rating in a report on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $382.79.

Everest Group Price Performance

Shares of Everest Group stock opened at $343.71 on Friday. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.24. The business has a 50 day moving average of $345.74 and a 200 day moving average of $342.32. The company has a market cap of $14.42 billion, a PE ratio of 18.24, a P/E/G ratio of 0.24 and a beta of 0.48. Everest Group has a 52 week low of $320.00 and a 52 week high of $392.78.

Everest Group (NYSE:EG) last issued its quarterly earnings data on Monday, October 27th. The company reported $7.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.03 by ($1.49). Everest Group had a net margin of 4.56% and a return on equity of 5.89%. The company had revenue of $4.32 billion for the quarter, compared to analysts’ expectations of $3.86 billion. During the same period in the previous year, the firm posted $11.80 earnings per share. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. As a group, equities research analysts forecast that Everest Group will post 47.93 earnings per share for the current year.

Everest Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Wednesday, September 3rd were paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Wednesday, September 3rd. Everest Group’s dividend payout ratio (DPR) is currently 42.46%.

Institutional Investors Weigh In On Everest Group

A number of institutional investors have recently made changes to their positions in EG. Banco Bilbao Vizcaya Argentaria S.A. boosted its holdings in shares of Everest Group by 3.0% during the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 1,025 shares of the company’s stock valued at $372,000 after acquiring an additional 30 shares during the last quarter. Darwin Wealth Management LLC raised its stake in Everest Group by 6.2% during the 3rd quarter. Darwin Wealth Management LLC now owns 568 shares of the company’s stock valued at $199,000 after buying an additional 33 shares during the last quarter. Farther Finance Advisors LLC raised its stake in Everest Group by 4.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 816 shares of the company’s stock valued at $277,000 after buying an additional 34 shares during the last quarter. Vontobel Holding Ltd. raised its stake in Everest Group by 2.1% during the 1st quarter. Vontobel Holding Ltd. now owns 1,781 shares of the company’s stock valued at $647,000 after buying an additional 36 shares during the last quarter. Finally, Baader Bank Aktiengesellschaft grew its holdings in shares of Everest Group by 6.6% in the first quarter. Baader Bank Aktiengesellschaft now owns 595 shares of the company’s stock worth $213,000 after acquiring an additional 37 shares during the period. Hedge funds and other institutional investors own 92.64% of the company’s stock.

About Everest Group

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.