Everest Group (NYSE:EG) Upgraded by Royal Bank Of Canada to “Moderate Buy” Rating

Royal Bank Of Canada upgraded shares of Everest Group (NYSE:EG) to a moderate buy rating in a report issued on Tuesday,Zacks reports.

Several other research analysts have also commented on EG. Keefe, Bruyette & Woods upped their price objective on shares of Everest Group from $411.00 to $414.00 and gave the stock an “outperform” rating in a report on Wednesday, July 8th. Weiss Ratings raised shares of Everest Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, July 10th. Mizuho lowered their price objective on shares of Everest Group from $418.00 to $416.00 and set a “neutral” rating for the company in a report on Friday, July 31st. TD Cowen lifted their price objective on Everest Group from $365.00 to $385.00 and gave the company a “hold” rating in a research report on Wednesday, August 19th. Finally, Wells Fargo & Company upped 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. Five research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $409.50.

Everest Group Stock Performance

Everest Group stock opened at $372.46 on Tuesday. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.23. The firm has a 50-day moving average of $375.25 and a 200-day moving average of $353.50. The firm has a market cap of $14.28 billion, a P/E ratio of 7.88, a P/E/G ratio of 0.72 and a beta of 0.28. Everest Group has a 1-year low of $302.44 and a 1-year high of $401.07.

Everest Group (NYSE:EG) last announced its quarterly earnings results on Tuesday, June 30th. The company reported $14.85 earnings per share (EPS) for the quarter. Everest Group had a return on equity of 13.63% and a net margin of 11.41%.The company had revenue of $3.96 billion for the quarter. Sell-side analysts expect that Everest Group will post 53.66 EPS for the current year.

Everest Group Announces Dividend

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

Institutional Trading of Everest Group

Several hedge funds and other institutional investors have recently made changes to their positions in EG. QRG Capital Management Inc. bought a new position in Everest Group during the 2nd quarter valued at approximately $227,000. Sequoia Financial Advisors LLC grew its stake in shares of Everest Group by 64.0% in the second quarter. Sequoia Financial Advisors LLC now owns 4,380 shares of the company’s stock worth $1,564,000 after acquiring an additional 1,709 shares during the last quarter. National Pension Service increased its holdings in shares of Everest Group by 83.2% during the second quarter. National Pension Service now owns 9,007 shares of the company’s stock valued at $3,218,000 after acquiring an additional 4,090 shares in the last quarter. Engineers Gate Manager LP purchased a new position in shares of Everest Group in the 2nd quarter worth about $859,000. Finally, Integrated Wealth Concepts LLC increased its stake in Everest Group by 4.1% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 12,901 shares of the company’s stock valued at $4,609,000 after purchasing an additional 506 shares in the last quarter. Hedge funds and other institutional investors own 92.64% of the company’s stock.

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.