Everest Group, Ltd. (NYSE:EG) to Issue 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 paid a dividend of 2.00 per share on Friday, March 28th. This represents a $8.00 annualized dividend and a yield of 2.23%. The ex-dividend date is Monday, March 17th.

Everest Group has raised its dividend payment by an average of 7.7% annually over the last three years. Everest Group has a payout ratio of 12.8% indicating that its dividend is sufficiently covered by earnings. 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 Up 2.8 %

Shares of NYSE EG opened at $359.35 on Friday. The firm’s 50-day simple moving average is $351.67 and its 200 day simple moving average is $368.79. The company has a market cap of $15.43 billion, a price-to-earnings ratio of 11.44, a price-to-earnings-growth ratio of 0.24 and a beta of 0.61. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.26. Everest Group has a 12-month low of $327.37 and a 12-month high of $407.30.

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

Analysts Set New Price Targets

Several analysts have weighed in on EG shares. Wells Fargo & Company dropped their price objective on Everest Group from $390.00 to $380.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. Keefe, Bruyette & Woods boosted their price objective on Everest Group from $420.00 to $434.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. BMO Capital Markets cut Everest Group from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $453.00 to $375.00 in a report on Thursday, January 30th. TD Cowen dropped their price objective on Everest Group from $444.00 to $419.00 and set a “hold” rating for the company in a report on Monday, November 18th. Finally, Jefferies Financial Group cut Everest Group from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $420.00 to $429.00 in a report on Tuesday, November 26th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $416.50.

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.