Everest Group, Ltd. (NYSE:EG) Announces Dividend Increase – $1.75 Per Share

Everest Group, Ltd. (NYSE:EG) declared a quarterly dividend on Monday, September 11th, Wall Street Journal reports. Stockholders of record on Tuesday, September 19th will be paid a dividend of 1.75 per share on Friday, September 29th. This represents a $7.00 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date is Monday, September 18th. This is a positive change from Everest Group’s previous quarterly dividend of $1.65.

Everest Group Price Performance

NYSE EG opened at $379.21 on Friday. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $16.46 billion, a price-to-earnings ratio of 12.64, a price-to-earnings-growth ratio of 0.27 and a beta of 0.61. The stock has a 50 day moving average of $360.20. Everest Group has a 52-week low of $244.57 and a 52-week high of $394.99.

Everest Group (NYSE:EG) last released its earnings results on Wednesday, July 26th. The company reported $15.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $11.10 by $4.11. Everest Group had a net margin of 9.14% and a return on equity of 14.92%. The company had revenue of $3.65 billion during the quarter, compared to the consensus estimate of $3.61 billion. During the same quarter in the prior year, the firm earned $9.79 EPS. On average, analysts predict that Everest Group will post 46.79 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Raymond James raised Everest Group from an “outperform” rating to a “strong-buy” rating and raised their price target for the stock from $420.00 to $450.00 in a research note on Friday, July 7th. The Goldman Sachs Group assumed coverage on shares of Everest Group in a research report on Friday, September 8th. They set a “buy” rating and a $449.00 price objective on the stock. Citigroup boosted their target price on shares of Everest Group from $406.00 to $408.00 and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Finally, Morgan Stanley restated an “overweight” rating and set a $429.00 price target on shares of Everest Group in a report on Tuesday, August 1st.

Everest Group Company Profile

Everest Group, Ltd., through its subsidiaries, provides reinsurance and insurance products in the United States, Bermuda, and internationally. The company operates through Reinsurance Operations and Insurance Operations segments. The Reinsurance Operations 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.