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

Everest Group, Ltd. (NYSE:EG) announced a quarterly dividend on Thursday, February 27th, RTT News reports. Shareholders of record on Monday, March 17th will be paid a dividend of 2.00 per share on Friday, March 28th. This represents a $8.00 annualized dividend and a yield of 2.30%.

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% indicating that its dividend is sufficiently covered by earnings. Equities research 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

EG traded up $4.57 on Thursday, hitting $348.15. 330,916 shares of the company’s stock were exchanged, compared to its average volume of 428,637. Everest Group has a fifty-two week low of $327.37 and a fifty-two week high of $407.30. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.26. The firm has a 50-day moving average price of $352.68 and a 200-day moving average price of $370.23. The stock has a market cap of $14.96 billion, a price-to-earnings ratio of 11.08, a P/E/G ratio of 0.24 and a beta of 0.65.

Everest Group (NYSE:EG) last posted its quarterly earnings results on Monday, February 3rd. The company reported ($18.39) EPS for the quarter, missing the consensus estimate of $11.64 by ($30.03). Everest Group had a return on equity of 9.04% and a net margin of 7.95%. As a group, equities analysts anticipate that Everest Group will post 47.93 earnings per share for the current year.

Analyst Ratings Changes

EG has been the topic of several research analyst reports. Barclays boosted their price objective on shares of Everest Group from $461.00 to $470.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Keefe, Bruyette & Woods boosted their price objective 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. TD Cowen reduced their price objective 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. Jefferies Financial Group lowered shares of Everest Group from a “buy” rating to a “hold” rating and boosted their price target for the stock from $420.00 to $429.00 in a research note on Tuesday, November 26th. Finally, Wells Fargo & Company cut 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. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $416.50.

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.