FY2024 EPS Estimates for Everest Group Cut by Zacks Research

Everest Group, Ltd. (NYSE:EG) – Stock analysts at Zacks Research decreased their FY2024 earnings per share (EPS) estimates for shares of Everest Group in a report released on Wednesday, November 20th. Zacks Research analyst T. De now anticipates that the company will post earnings of $59.58 per share for the year, down from their previous estimate 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.

Several other equities analysts also recently commented on the company. Bank of America cut their price objective on Everest Group from $496.00 to $485.00 and set a “buy” rating on the stock in a research report on Thursday, October 10th. Jefferies Financial Group cut Everest Group from a “buy” rating to a “hold” rating and upped their target price for the stock from $420.00 to $429.00 in a report on Tuesday. Keefe, Bruyette & Woods lowered their target price on Everest Group from $454.00 to $438.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. TD Cowen lowered their target price on Everest Group from $444.00 to $419.00 and set a “hold” rating for the company in a report on Monday, November 18th. Finally, Wells Fargo & Company lowered their target price on Everest Group from $406.00 to $402.00 and set an “equal weight” rating for the company in a report on Tuesday, November 5th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $431.30.

Everest Group Stock Performance

Shares of Everest Group stock opened at $387.59 on Monday. The stock’s fifty day moving average is $380.79 and its two-hundred day moving average is $380.87. The company has a market capitalization of $16.66 billion, a PE ratio of 6.05, a price-to-earnings-growth ratio of 2.88 and a beta of 0.63. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.22. Everest Group has a 52 week low of $343.76 and a 52 week high of $417.04.

Institutional Inflows and Outflows

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

Insider Activity at Everest Group

In other Everest Group news, COO James Allan Williamson sold 200 shares of the firm’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 sale, the chief operating officer now owns 15,009 shares of the company’s stock, valued at approximately $5,553,330. This trade represents a 1.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mike Karmilowicz sold 269 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now directly owns 12,726 shares of the company’s stock, valued at approximately $4,434,756.48. This represents a 2.07 % decrease in their position. The disclosure for this sale can be found here. 1.20% of the stock is owned by corporate insiders.

Everest Group Dividend Announcement

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 2.06%. The ex-dividend date is Wednesday, November 27th. Everest Group’s payout ratio is currently 12.52%.

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.