Everest Group, Ltd. (NYSE:EG) Declares Quarterly Dividend of $2.00

Everest Group, Ltd. (NYSE:EG) declared a quarterly dividend on Thursday, February 27th, RTT News reports. Investors of record on Monday, March 17th will be given a dividend of 2.00 per share on Friday, March 28th. This represents a $8.00 annualized dividend and a yield of 2.30%.

Everest Group has increased its dividend payment by an average of 7.7% annually over the last three years. Everest Group has a dividend payout ratio of 12.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Everest Group to earn $62.48 per share next year, which means the company should continue to be able to cover its $8.00 annual dividend with an expected future payout ratio of 12.8%.

Everest Group Stock Performance

Shares of NYSE:EG opened at $348.15 on Friday. The stock has a market capitalization of $14.96 billion, a P/E ratio of 11.08, a P/E/G ratio of 0.24 and a beta of 0.65. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.26. Everest Group has a 1-year low of $327.37 and a 1-year high of $407.30. The business has a 50-day moving average price of $352.65 and a two-hundred day moving average price of $370.08.

Everest Group (NYSE:EG) last announced its quarterly earnings data on Monday, February 3rd. The company reported ($18.39) earnings per share for the quarter, missing the consensus estimate of $11.64 by ($30.03). Everest Group had a net margin of 7.95% and a return on equity of 9.04%. Equities analysts predict that Everest Group will post 47.93 earnings per share for the current year.

Analyst Upgrades and Downgrades

EG has been the topic of several recent research reports. Morgan Stanley restated an “equal weight” rating and issued a $340.00 price target (down from $425.00) on shares of Everest Group in a research report on Wednesday, February 5th. Jefferies Financial Group lowered Everest Group from a “buy” rating to a “hold” rating and boosted their target price for the stock from $420.00 to $429.00 in a research report on Tuesday, November 26th. BMO Capital Markets cut Everest Group from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $453.00 to $375.00 in a research note on Thursday, January 30th. TD Cowen reduced their price objective on shares of Everest Group from $444.00 to $419.00 and set a “hold” rating on the stock in a research note on Monday, November 18th. Finally, Wells Fargo & Company lowered their target price on shares of Everest Group from $390.00 to $380.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $416.50.

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.