Zacks Research Forecasts Reduced Earnings for Everest Group

Everest Group, Ltd. (NYSE:EG - Free Report) - Zacks Research decreased their FY2024 earnings per share (EPS) estimates for Everest Group in a report released on Wednesday, November 20th. Zacks Research analyst T. De now forecasts that the company will earn $59.58 per share for the year, down from their previous forecast of $61.59. The consensus estimate for Everest Group's current full-year earnings is $57.95 per share. Zacks Research also issued estimates for Everest Group's Q4 2024 earnings at $11.79 EPS, Q3 2025 earnings at $12.20 EPS, FY2025 earnings at $67.04 EPS, Q2 2026 earnings at $21.33 EPS and Q3 2026 earnings at $16.66 EPS.

EG has been the subject of a number of other research reports. Bank of America cut their price target on shares of Everest Group from $496.00 to $485.00 and set a "buy" rating for the company in a report on Thursday, October 10th. Barclays dropped their target price on shares of Everest Group from $527.00 to $517.00 and set an "overweight" rating for the company in a report on Thursday, October 31st. Wells Fargo & Company decreased their price target on Everest Group from $406.00 to $402.00 and set an "equal weight" rating on the stock in a research note on Tuesday, November 5th. Jefferies Financial Group raised their price objective on Everest Group from $440.00 to $457.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. Finally, TD Cowen reduced their price objective on Everest Group from $444.00 to $419.00 and set a "hold" rating for the company in a report on Monday, November 18th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, Everest Group has an average rating of "Moderate Buy" and a consensus target price of $434.10.

Everest Group Price Performance

NYSE:EG traded up $1.31 during trading hours on Monday, hitting $390.31. The company's stock had a trading volume of 1,768,614 shares, compared to its average volume of 356,176. Everest Group has a 52-week low of $343.76 and a 52-week high of $417.04. 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 business's 50-day moving average is $380.77 and its two-hundred day moving average is $380.80. The company has a market capitalization of $16.78 billion, a PE ratio of 6.10, a PEG ratio of 2.88 and a beta of 0.63.

Everest Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date is Wednesday, November 27th. Everest Group's dividend payout ratio is presently 12.52%.

Insider Activity at Everest Group

In other Everest Group news, EVP Mike Karmilowicz sold 269 shares of the business's stock in a transaction on Monday, November 4th. The stock was sold at an average price of $348.48, for a total value of $93,741.12. Following the completion of the transaction, the executive vice president now directly owns 12,726 shares in the company, valued at approximately $4,434,756.48. The trade was a 2.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 value of $74,000.00. Following the sale, the chief operating officer now owns 15,009 shares in the company, valued at $5,553,330. This trade represents a 1.32 % decrease in their position. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of EG. American National Bank purchased a new stake in Everest Group during the second quarter valued at about $27,000. M&R Capital Management Inc. acquired a new stake in Everest Group during the 3rd quarter worth approximately $29,000. Bruce G. Allen Investments LLC raised its holdings in Everest Group by 200.0% in the third quarter. Bruce G. Allen Investments LLC now owns 78 shares of the company's stock valued at $31,000 after buying an additional 52 shares during the period. Eastern Bank acquired a new position in Everest Group during the third quarter valued at approximately $35,000. Finally, Brooklyn Investment Group purchased a new stake in Everest Group during the third quarter worth approximately $39,000. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

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.