Everest Group (NYSE:EG – Free Report) had its price target raised by Cantor Fitzgerald from $390.00 to $419.00 in a report issued on Monday,Benzinga reports. They currently have a neutral rating on the stock.
Several other equities analysts have also issued reports on the company. Royal Bank Of Canada boosted their price objective on Everest Group from $455.00 to $475.00 and gave the company an “outperform” rating in a research report on Friday, October 30th. Rosenblatt Securities set a $455.00 price target on shares of Everest Group in a research note on Tuesday, September 22nd. TD Cowen raised their price objective on shares of Everest Group from $365.00 to $385.00 and gave the stock a “hold” rating in a report on Wednesday, August 19th. Evercore set a $377.00 price objective on shares of Everest Group in a research report on Thursday, July 30th. Finally, Morgan Stanley boosted their price objective on shares of Everest Group from $375.00 to $395.00 and gave the company an “equal weight” rating in a research report on Friday, October 30th. Five investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $426.27.
Get Our Latest Analysis on Everest Group
Everest Group Price Performance
EG opened at $420.93 on Monday. The stock has a market cap of $15.59 billion, a P/E ratio of 8.90, a P/E/G ratio of 0.57 and a beta of 0.23. Everest Group has a 12 month low of $304.55 and a 12 month high of $421.52. The company has a quick ratio of 0.35, a current ratio of 0.36 and a debt-to-equity ratio of 0.25. The company has a fifty day simple moving average of $381.07 and a 200 day simple moving average of $354.58.
Everest Group (NYSE:EG – Get Free Report) last posted its earnings results on Wednesday, October 28th. The company reported $7.62 earnings per share for the quarter, missing the consensus estimate of $9.38 by ($1.76). Everest Group had a return on equity of 13.71% and a net margin of 11.70%. The business had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.81 billion. During the same quarter in the prior year, the firm posted $7.54 earnings per share. The business’s revenue was down 14.0% on a year-over-year basis. On average, research analysts expect that Everest Group will post 52.80 EPS for the current year.
Everest Group Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Wednesday, September 9th were paid a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 1.9%. The ex-dividend date was Wednesday, September 9th. Everest Group’s payout ratio is presently 16.91%.
Hedge Funds Weigh In On Everest Group
Several hedge funds have recently modified their holdings of the stock. Bank of America Corp DE bought a new stake in Everest Group in the 2nd quarter valued at $108,102,000. William Blair Investment Management LLC acquired a new position in shares of Everest Group in the second quarter valued at $171,426,000. The Manufacturers Life Insurance Company acquired a new position in shares of Everest Group in the second quarter valued at $9,122,000. Polianta Ltd acquired a new position in shares of Everest Group in the second quarter valued at $2,000,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Everest Group in the second quarter valued at about $5,351,000. Institutional investors own 92.64% of the company’s stock.
Key Headlines Impacting Everest Group
Here are the key news stories impacting Everest Group this week:
- Positive Sentiment: Keefe, Bruyette & Woods raised its price target to $450 from $407 and maintained an “outperform” rating, implying further upside from the cited share price. Separate reports also noted higher price targets from Wells Fargo and Cantor Fitzgerald, and a positive appreciation outlook from UBS. Keefe, Bruyette & Woods rating information Wells Fargo price target report Cantor Fitzgerald price target report UBS outlook report
- Neutral Sentiment: Several law firms issued investor notices about the same lawsuit and lead-plaintiff deadline; the notices do not describe separate cases. The proposed class period is February 8, 2024, through October 27, 2025, with a December 28, 2026 deadline to seek lead-plaintiff status. Investor notice
- Negative Sentiment: The securities lawsuit alleges Everest Group and its executives made false or misleading statements. The claims are allegations, but the litigation could create legal costs and uncertainty for investors. Class action investor alert
About Everest Group
Everest Group, Ltd. is a global insurance and reinsurance company that provides property and casualty coverage to businesses, institutions, and other insurers. Its operations focus on assuming and managing risks through reinsurance, as well as offering insurance products in selected specialty and commercial markets.
The company’s reinsurance business supports insurers across lines such as property, casualty, specialty, and other risks. Through its insurance platform, Everest provides coverage for commercial customers and specialty exposures, including property, casualty, professional liability, and other products that may vary by market.
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