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

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

Everest Group Stock Down 0.5 %

Shares of EG stock traded down $1.66 during mid-day trading on Monday, reaching $345.85. 589,135 shares of the company were exchanged, compared to its average volume of 421,177. Everest Group has a fifty-two week low of $341.00 and a fifty-two week high of $407.30. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.40 and a current ratio of 0.40. The company has a market capitalization of $14.86 billion, a P/E ratio of 5.41, a P/E/G ratio of 2.50 and a beta of 0.65. The business’s 50 day simple moving average is $365.34 and its 200 day simple moving average is $375.07.

Everest Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th were given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend was Wednesday, November 27th. Everest Group’s payout ratio is currently 12.52%.

Analyst Ratings Changes

EG has been the topic of several recent research reports. TD Cowen dropped their price objective on shares of Everest Group from $444.00 to $419.00 and set a “hold” rating on the stock in a research note on Monday, November 18th. Barclays dropped their price objective on shares of Everest Group from $499.00 to $461.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Bank of America dropped their price objective on shares of Everest Group from $496.00 to $485.00 and set a “buy” rating on the stock in a research note on Thursday, October 10th. Wells Fargo & Company lowered their price target on shares of 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. Finally, Keefe, Bruyette & Woods upped their price target on shares of Everest Group from $420.00 to $434.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Everest Group presently has an average rating of “Hold” and a consensus price target of $422.56.

Insider Transactions at Everest Group

In related news, COO James Allan Williamson sold 200 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $370.00, for a total transaction of $74,000.00. Following the transaction, the chief operating officer now directly owns 15,009 shares in the company, valued at $5,553,330. This trade represents a 1.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate 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.