Everest Group (NYSE:EG) Issues Quarterly Earnings Results, Misses Estimates By $30.03 EPS

Everest Group (NYSE:EG) released its quarterly earnings data on Monday. The company reported ($18.39) earnings per share for the quarter, missing analysts’ consensus estimates 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 Trading Down 0.5 %

NYSE:EG traded down $1.66 during trading hours on Monday, hitting $345.85. 589,135 shares of the stock were exchanged, compared to its average volume of 421,178. The company has a market capitalization of $14.86 billion, a P/E ratio of 5.41, a price-to-earnings-growth ratio of 2.50 and a beta of 0.65. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.22. The company’s 50 day moving average is $365.34 and its two-hundred day moving average is $375.07. Everest Group has a twelve month low of $341.00 and a twelve month high of $407.30.

Everest Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Wednesday, November 27th were given a $2.00 dividend. 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 presently 12.52%.

Insider Activity

In other Everest Group news, COO James Allan Williamson sold 200 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $370.00, for a total value of $74,000.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.20% of the company’s stock.

Wall Street Analysts Forecast Growth

EG has been the subject of several analyst reports. Bank of America cut their target price on Everest Group from $496.00 to $485.00 and set a “buy” rating for the company in a research report on Thursday, October 10th. Wells Fargo & Company cut 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. TD Cowen lowered their target price on shares of Everest Group from $444.00 to $419.00 and set a “hold” rating on the stock in a report on Monday, November 18th. Keefe, Bruyette & Woods lifted their price target on shares of Everest Group from $420.00 to $434.00 and gave the company an “outperform” rating in a report on Friday, January 10th. Finally, BMO Capital Markets cut shares of Everest Group from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $453.00 to $375.00 in a research note on Thursday. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Everest Group presently has a consensus rating of “Hold” and a consensus price target of $422.56.

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.