Everest Group (NYSE:EG) Upgraded at UBS Group

UBS Group upgraded shares of Everest Group (NYSE:EG) to a hold rating in a research report sent to investors on Wednesday, Zacks.com reports.

Other equities analysts have also issued research reports about the stock. BMO Capital Markets restated a market perform rating and set a $403.00 price target on shares of Everest Group in a research report on Friday, August 30th. Barclays assumed coverage on shares of Everest Group in a research report on Wednesday, September 4th. They set an overweight rating and a $527.00 price target for the company. Morgan Stanley lowered their price target on shares of Everest Group from $450.00 to $445.00 and set an overweight rating for the company in a research report on Wednesday, July 10th. Bank of America lowered their price target on shares of Everest Group from $496.00 to $485.00 and set a buy rating for the company in a research report on Thursday. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Everest Group from $454.00 to $438.00 and set an outperform rating for the company in a research report on Thursday, August 8th. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Everest Group has a consensus rating of Moderate Buy and a consensus price target of $439.27.

Everest Group Stock Up 1.3 %

EG stock opened at $393.86 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.38 and a quick ratio of 0.38. Everest Group has a 1-year low of $343.76 and a 1-year high of $417.92. The firm has a fifty day moving average price of $382.30 and a two-hundred day moving average price of $380.67. The firm has a market cap of $16.96 billion, a price-to-earnings ratio of 5.82, a PEG ratio of 2.70 and a beta of 0.61.

Everest Group (NYSE:EG) last released its earnings results on Wednesday, July 31st. The company reported $16.85 earnings per share for the quarter, missing the consensus estimate of $16.97 by ($0.12). Everest Group had a net margin of 18.36% and a return on equity of 24.09%. The business had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.32 billion. During the same quarter in the previous year, the firm earned $15.21 EPS. The firm’s revenue for the quarter was up 15.8% on a year-over-year basis. Research analysts predict that Everest Group will post 61.78 EPS for the current year.

Everest Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Monday, September 16th were given a $2.00 dividend. The ex-dividend date was Monday, September 16th. This represents a $8.00 dividend on an annualized basis and a yield of 2.03%. Everest Group’s dividend payout ratio is presently 11.81%.

Institutional Investors Weigh In On Everest Group

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. acquired a new stake in Everest Group in the 4th quarter valued at about $1,886,055,000. Wellington Management Group LLP acquired a new stake in Everest Group in the 4th quarter valued at about $751,457,000. Boston Partners lifted its holdings in Everest Group by 29.1% in the 1st quarter. Boston Partners now owns 1,197,457 shares of the company’s stock valued at $475,750,000 after acquiring an additional 269,665 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Everest Group by 1.8% in the 2nd quarter. AQR Capital Management LLC now owns 1,032,479 shares of the company’s stock valued at $393,395,000 after acquiring an additional 17,885 shares during the last quarter. Finally, Champlain Investment Partners LLC lifted its holdings in Everest Group by 5.3% in the 1st quarter. Champlain Investment Partners LLC now owns 906,100 shares of the company’s stock valued at $360,175,000 after acquiring an additional 45,705 shares during the last quarter. 92.64% of the stock is owned by institutional investors and hedge funds.

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.