Zacks Research Lowers Earnings Estimates for Everest Group

Everest Group, Ltd. (NYSE:EG) – Equities research analysts at Zacks Research dropped their FY2024 earnings estimates for Everest Group in a report issued 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 research analysts have also issued reports on the company. TD Cowen cut their price target on Everest Group from $444.00 to $419.00 and set a “hold” rating on the stock in a report on Monday, November 18th. Keefe, Bruyette & Woods cut their target price on Everest Group from $454.00 to $438.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Bank of America decreased their price target on shares of Everest Group from $496.00 to $485.00 and set a “buy” rating for the company in a research note on Thursday, October 10th. Wells Fargo & Company dropped their price objective on shares of 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. Finally, BMO Capital Markets decreased their target price on shares of Everest Group from $383.00 to $372.00 and set a “market perform” rating for the company in a research report on Thursday, November 14th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $434.10.

Everest Group Stock Performance

Shares of EG opened at $390.31 on Monday. Everest Group has a one year low of $343.76 and a one year high of $417.04. The company has a market cap of $16.78 billion, a PE ratio of 6.10, a P/E/G ratio of 2.88 and a beta of 0.63. The stock has a 50-day moving average of $380.77 and a 200-day moving average of $380.80. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.40 and a quick ratio of 0.40.

Everest Group Announces Dividend

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

Insider Buying and Selling at Everest Group

In related news, Director William F. Galtney, Jr. purchased 2,870 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were bought at an average cost of $348.64 per share, with a total value of $1,000,596.80. Following the acquisition, the director now owns 32,822 shares of the company’s stock, valued at $11,443,062.08. This represents a 9.58 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 transaction of $93,741.12. Following the sale, the executive vice president now owns 12,726 shares of the company’s stock, valued at $4,434,756.48. This trade represents a 2.07 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.

Institutional Trading of Everest Group

A number of large investors have recently bought and sold shares of the company. Boston Partners increased its stake in shares of Everest Group by 29.1% in the first quarter. Boston Partners now owns 1,197,457 shares of the company’s stock worth $475,750,000 after purchasing an additional 269,665 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Everest Group by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,155,760 shares of the company’s stock worth $453,818,000 after buying an additional 16,180 shares during the period. AQR Capital Management LLC grew its stake in Everest Group by 1.8% in the 2nd quarter. AQR Capital Management LLC now owns 1,032,479 shares of the company’s stock valued at $393,395,000 after buying an additional 17,885 shares in the last quarter. William Blair Investment Management LLC raised its holdings in Everest Group by 30.2% during the 2nd quarter. William Blair Investment Management LLC now owns 580,171 shares of the company’s stock valued at $221,057,000 after acquiring an additional 134,517 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Everest Group by 7.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 535,121 shares of the company’s stock valued at $203,891,000 after acquiring an additional 38,254 shares during the period. 92.64% of the stock is owned by hedge funds and other institutional investors.

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.