Analysts Set Everest Group, Ltd. (NYSE:EG) PT at $435.44

Shares of Everest Group, Ltd. (NYSE:EG) have earned a consensus recommendation of “Moderate Buy” from the seven brokerages that are presently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $432.11.

EG has been the subject of several research analyst reports. Morgan Stanley cut their target price on shares of Everest Group from $466.00 to $450.00 and set an “overweight” rating for the company in a research note on Monday. TD Cowen initiated coverage on shares of Everest Group in a research note on Wednesday, January 10th. They set a “market perform” rating and a $421.00 target price for the company. Citigroup cut shares of Everest Group from a “buy” rating to a “neutral” rating and cut their target price for the company from $452.00 to $375.00 in a research note on Monday, February 12th. Keefe, Bruyette & Woods upped their target price on shares of Everest Group from $445.00 to $457.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. Finally, Wells Fargo & Company dropped their price objective on shares of Everest Group from $402.00 to $397.00 and set an “equal weight” rating for the company in a research note on Thursday, April 11th.

Insider Buying and Selling

In other news, Director Roger M. Singer acquired 500 shares of Everest Group stock in a transaction that occurred on Monday, February 12th. The shares were acquired at an average price of $357.21 per share, with a total value of $178,605.00. Following the purchase, the director now directly owns 16,920 shares of the company’s stock, valued at $6,043,993.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Roger M. Singer bought 500 shares of the company’s stock in a transaction on Monday, February 12th. The shares were purchased at an average cost of $357.21 per share, for a total transaction of $178,605.00. Following the acquisition, the director now owns 16,920 shares of the company’s stock, valued at approximately $6,043,993.20. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CEO Mike Karmilowicz bought 285 shares of the company’s stock in a transaction on Friday, February 9th. The shares were bought at an average price of $352.39 per share, for a total transaction of $100,431.15. Following the completion of the acquisition, the chief executive officer now directly owns 10,586 shares in the company, valued at approximately $3,730,400.54. The disclosure for this purchase can be found here. Insiders have bought 2,485 shares of company stock valued at $874,786 in the last 90 days. 1.40% of the stock is owned by insiders.

Institutional Trading of Everest Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Elevated Capital Advisors LLC acquired a new stake in shares of Everest Group in the first quarter valued at approximately $679,000. Dynamic Advisor Solutions LLC acquired a new stake in shares of Everest Group in the first quarter valued at approximately $1,814,000. Gilman Hill Asset Management LLC acquired a new stake in shares of Everest Group in the first quarter valued at approximately $2,600,000. Whitaker Myers Wealth Managers LTD. bought a new position in shares of Everest Group in the first quarter valued at $211,000. Finally, Traynor Capital Management Inc. grew its stake in shares of Everest Group by 37.9% in the first quarter. Traynor Capital Management Inc. now owns 1,817 shares of the company’s stock valued at $722,000 after buying an additional 499 shares in the last quarter. 92.64% of the stock is currently owned by institutional investors and hedge funds.

Everest Group Stock Performance

EG stock opened at $359.53 on Friday. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $15.60 billion, a price-to-earnings ratio of 6.02, a P/E/G ratio of 3.19 and a beta of 0.56. Everest Group has a 12 month low of $331.08 and a 12 month high of $417.92. The firm has a 50 day moving average of $376.46 and a two-hundred day moving average of $380.58.

Everest Group (NYSE:EG) last posted its earnings results on Wednesday, February 7th. The company reported $25.18 EPS for the quarter, topping the consensus estimate of $14.63 by $10.55. The company had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.85 billion. Everest Group had a net margin of 17.26% and a return on equity of 25.05%. The company’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $12.21 earnings per share. As a group, equities analysts anticipate that Everest Group will post 61.21 EPS for the current fiscal year.

Everest Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Tuesday, March 19th were paid a dividend of $1.75 per share. This represents a $7.00 annualized dividend and a yield of 1.95%. The ex-dividend date was Monday, March 18th. Everest Group’s payout ratio is 11.72%.

Everest Group Company Profile

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.