Everest Group (NYSE:EG) Announces Earnings Results

Everest Group (NYSE:EG) issued its quarterly earnings results on Monday. The company reported ($18.39) earnings per share (EPS) for the quarter, missing the consensus estimate of $11.64 by ($30.03), Zacks reports. Everest Group had a net margin of 16.99% and a return on equity of 22.45%.

Everest Group Stock Down 0.5 %

EG opened at $345.85 on Tuesday. Everest Group has a twelve month low of $341.00 and a twelve month high of $407.30. The company has a market cap of $14.86 billion, a PE ratio of 5.41, a price-to-earnings-growth ratio of 2.50 and a beta of 0.65. The company has a 50-day moving average price of $364.45 and a 200 day moving average price of $374.69. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.22.

Everest Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Wednesday, November 27th were issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 2.31%. The ex-dividend date was Wednesday, November 27th. Everest Group’s dividend payout ratio (DPR) is 12.52%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on EG. Bank of America lowered their price objective on Everest Group from $496.00 to $485.00 and set a “buy” rating for the company in a research note on Thursday, October 10th. Jefferies Financial Group downgraded shares of Everest Group from a “buy” rating to a “hold” rating and increased their target price for the company from $420.00 to $429.00 in a report on Tuesday, November 26th. UBS Group upgraded shares of Everest Group to a “hold” rating in a report on Wednesday, October 9th. TD Cowen decreased their target price on Everest Group from $444.00 to $419.00 and set a “hold” rating for the company in a research report on Monday, November 18th. Finally, Wells Fargo & Company dropped their price objective on Everest Group from $390.00 to $380.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $422.56.

Insider Transactions at Everest Group

In other Everest Group news, COO James Allan Williamson sold 200 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $370.00, for a total value of $74,000.00. Following the transaction, the chief operating officer now directly owns 15,009 shares of the company’s stock, valued at approximately $5,553,330. The trade was a 1.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.20% of the company’s stock.

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.