Everest Group (NYSE:EG) Releases Quarterly Earnings Results, Beats Expectations By $0.34 EPS

Everest Group (NYSE:EG) released its quarterly earnings data on Monday. The company reported $16.32 EPS for the quarter, topping the consensus estimate of $15.98 by $0.34, Briefing.com reports. Everest Group had a net margin of 18.69% and a return on equity of 24.86%. The company had revenue of $4.13 billion during the quarter, compared to the consensus estimate of $4.05 billion. During the same period last year, the firm earned $11.31 EPS. Everest Group’s revenue for the quarter was up 25.8% on a year-over-year basis.

Everest Group Stock Up 1.0 %

EG opened at $369.90 on Thursday. The company has a quick ratio of 0.37, a current ratio of 0.35 and a debt-to-equity ratio of 0.25. The business’s fifty day simple moving average is $375.84 and its 200 day simple moving average is $379.01. Everest Group has a 52 week low of $331.08 and a 52 week high of $417.92. The stock has a market cap of $19.70 billion, a PE ratio of 5.50, a P/E/G ratio of 3.23 and a beta of 0.57.

Everest Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Tuesday, March 19th were given a $1.75 dividend. The ex-dividend date of this dividend was Monday, March 18th. This represents a $7.00 annualized dividend and a yield of 1.89%. Everest Group’s dividend payout ratio (DPR) is presently 10.40%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Keefe, Bruyette & Woods raised their price target on Everest Group from $445.00 to $457.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Wells Fargo & Company cut their target price on Everest Group from $402.00 to $397.00 and set an “equal weight” rating for the company in a research note on Thursday, April 11th. TD Cowen assumed coverage on Everest Group in a research report on Wednesday, January 10th. They set a “market perform” rating and a $421.00 price target on the stock. Citigroup cut shares of Everest Group from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $452.00 to $375.00 in a research note on Monday, February 12th. Finally, Morgan Stanley decreased their price target on shares of Everest Group from $466.00 to $450.00 and set an “overweight” rating on the stock in a report on Monday, April 15th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $432.11.

Insiders Place Their Bets

In other news, COO James Allan Williamson bought 700 shares of the business’s stock in a transaction on Friday, February 9th. The stock was acquired at an average price of $352.50 per share, with a total value of $246,750.00. Following the completion of the purchase, the chief operating officer now directly owns 11,749 shares in the company, valued at $4,141,522.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Everest Group news, COO James Allan Williamson bought 700 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were bought at an average price of $352.50 per share, for a total transaction of $246,750.00. Following the transaction, the chief operating officer now directly owns 11,749 shares in the company, valued at $4,141,522.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark Kociancic purchased 1,000 shares of the business’s stock in a transaction on Friday, February 9th. The shares were acquired at an average price of $349.00 per share, with a total value of $349,000.00. Following the completion of the transaction, the chief financial officer now owns 25,733 shares of the company’s stock, valued at $8,980,817. The disclosure for this purchase can be found here. Insiders bought a total of 2,485 shares of company stock valued at $874,786 over the last 90 days. Insiders own 1.20% 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.