Everest Group, Ltd. Announces Quarterly Dividend of $2.00 (NYSE:EG)

Everest Group, Ltd. (NYSE:EG - Get Free Report) announced a quarterly dividend on Thursday, February 27th, RTT News reports. Stockholders of record on Monday, March 17th will be given a dividend of 2.00 per share on Friday, March 28th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date is Monday, March 17th.

Everest Group has increased its dividend payment by an average of 7.7% annually over the last three years. Everest Group has a payout ratio of 12.8% meaning its dividend is sufficiently covered by earnings. Equities 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 Price Performance

Shares of EG stock traded up $2.99 during midday trading on Monday, reaching $356.21. 432,587 shares of the company traded hands, compared to its average volume of 430,612. The firm's 50 day simple moving average is $352.59 and its two-hundred day simple moving average is $370.08. Everest Group has a 1-year low of $327.37 and a 1-year high of $407.30. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.40 and a quick ratio of 0.40. The firm has a market cap of $15.31 billion, a PE ratio of 11.34, a price-to-earnings-growth ratio of 0.24 and a beta of 0.65.

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

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Analysts Set New Price Targets

EG has been the subject of several research reports. BMO Capital Markets downgraded Everest Group from an "outperform" rating to a "market perform" rating and cut their price objective for the stock from $453.00 to $375.00 in a research report on Thursday, January 30th. Barclays lifted their target price on shares of Everest Group from $461.00 to $470.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 4th. Morgan Stanley reaffirmed an "equal weight" rating and issued a $340.00 target price (down from $425.00) on shares of Everest Group in a research note on Wednesday, February 5th. TD Cowen lowered their target price on shares of Everest Group from $444.00 to $419.00 and set a "hold" rating for the company in a research note on Monday, November 18th. Finally, Keefe, Bruyette & Woods lifted their target price 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 three have given a buy rating to the company's stock. According to MarketBeat, Everest Group has an average rating of "Hold" and an average target price of $416.50.

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.