Everest Group (NYSE:EG) Trading Down 2.5%

Everest Group, Ltd. (NYSE:EG)’s stock price fell 2.5% during mid-day trading on Tuesday . The stock traded as low as $369.02 and last traded at $369.02. 21,545 shares were traded during trading, a decline of 93% from the average session volume of 325,721 shares. The stock had previously closed at $378.62.

Analyst Ratings Changes

EG has been the topic of several recent research reports. Keefe, Bruyette & Woods raised their price objective on Everest Group from $445.00 to $457.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Morgan Stanley lowered their price objective on Everest Group from $466.00 to $450.00 and set an “overweight” rating for the company in a research note on Monday, April 15th. Finally, Wells Fargo & Company cut their target price on shares of Everest Group from $402.00 to $397.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 11th. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $432.11.

Everest Group Stock Down 2.9 %

The stock has a market cap of $15.98 billion, a price-to-earnings ratio of 5.62, a PEG ratio of 3.34 and a beta of 0.63. The stock has a 50 day simple moving average of $379.88 and a 200 day simple moving average of $374.93. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.25.

Everest Group (NYSE:EG) last issued its quarterly earnings data on Monday, April 29th. The company reported $16.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $15.98 by $0.34. Everest Group had a net margin of 18.69% and a return on equity of 24.86%. The firm had revenue of $4.13 billion during the quarter, compared to analysts’ expectations of $4.05 billion. During the same period last year, the company earned $11.31 earnings per share. The business’s revenue was up 25.8% on a year-over-year basis. As a group, analysts expect that Everest Group, Ltd. will post 61.65 earnings per share for the current fiscal year.

Everest Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Wednesday, May 29th were issued a $2.00 dividend. The ex-dividend date of this dividend was Wednesday, May 29th. This represents a $8.00 annualized dividend and a dividend yield of 2.18%. This is an increase from Everest Group’s previous quarterly dividend of $1.75. Everest Group’s dividend payout ratio is currently 11.89%.

Hedge Funds Weigh In On Everest Group

Several institutional investors have recently modified their holdings of the business. Allworth Financial LP bought a new stake in shares of Everest Group in the 4th quarter worth approximately $25,000. Avior Wealth Management LLC purchased a new position in shares of Everest Group during the 4th quarter valued at $25,000. Headlands Technologies LLC bought a new position in shares of Everest Group during the 4th quarter worth $25,000. Janiczek Wealth Management LLC bought a new position in shares of Everest Group during the 4th quarter worth $27,000. Finally, Trifecta Capital Advisors LLC purchased a new stake in Everest Group in the 4th quarter worth about $28,000. 92.64% of the stock is owned by institutional investors.

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.