Everest Group (NYSE:EG) Shares Down 2.5%

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

Analysts Set New Price Targets

Several research firms recently weighed in on EG. Wells Fargo & Company lowered their target price on 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. Morgan Stanley cut 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, Keefe, Bruyette & Woods raised their target price on shares of Everest Group from $445.00 to $457.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $432.11.

Everest Group Trading Down 2.9 %

The stock has a market cap of $15.98 billion, a P/E ratio of 5.62, a price-to-earnings-growth ratio of 3.34 and a beta of 0.63. The stock’s 50-day moving average is $379.88 and its two-hundred day moving average is $374.93. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.38 and a quick ratio of 0.38.

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

Everest Group Increases Dividend

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

Hedge Funds Weigh In On Everest Group

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. purchased a new position in shares of Everest Group in the 4th quarter worth approximately $1,886,055,000. Wellington Management Group LLP purchased a new position in Everest Group during the fourth quarter worth $751,457,000. Boston Partners increased its position in Everest Group by 29.1% during the first 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. Franklin Resources Inc. purchased a new stake in shares of Everest Group in the fourth quarter valued at $373,130,000. Finally, Champlain Investment Partners LLC lifted its holdings in shares of Everest Group by 5.3% in the 1st quarter. Champlain Investment Partners LLC now owns 906,100 shares of the company’s stock worth $360,175,000 after acquiring an additional 45,705 shares during the last quarter. Institutional investors own 92.64% of the company’s stock.

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.