Everest Group, Ltd. (NYSE:EG) Shares Purchased by Vest Financial LLC

Vest Financial LLC raised its stake in Everest Group, Ltd. (NYSE:EG) by 35.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,910 shares of the company’s stock after purchasing an additional 764 shares during the period. Vest Financial LLC’s holdings in Everest Group were worth $1,109,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. acquired a new position in shares of Everest Group during the fourth quarter worth $1,886,055,000. Wellington Management Group LLP acquired a new position in shares of Everest Group during the 4th quarter worth about $751,457,000. Boston Partners increased its holdings in shares of Everest Group by 29.1% in the 1st quarter. Boston Partners now owns 1,197,457 shares of the company’s stock valued at $475,750,000 after acquiring an additional 269,665 shares during the last quarter. Franklin Resources Inc. purchased a new position in shares of Everest Group in the 4th quarter valued at about $373,130,000. Finally, Champlain Investment Partners LLC raised its position in shares of Everest Group by 5.3% during the 1st quarter. Champlain Investment Partners LLC now owns 906,100 shares of the company’s stock worth $360,175,000 after acquiring an additional 45,705 shares in the last quarter. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Everest Group Stock Performance

Shares of EG stock opened at $379.10 on Friday. The stock’s 50-day moving average price is $380.19 and its 200 day moving average price is $379.11. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $16.40 billion, a PE ratio of 5.63, a price-to-earnings-growth ratio of 2.46 and a beta of 0.62. Everest Group, Ltd. has a 52-week low of $343.76 and a 52-week high of $417.92.

Everest Group (NYSE:EG) last released its earnings results on Wednesday, July 31st. The company reported $16.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $16.97 by ($0.12). Everest Group had a net margin of 18.36% and a return on equity of 24.09%. The company had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.32 billion. During the same period in the previous year, the firm posted $15.21 EPS. The company’s revenue for the quarter was up 15.8% on a year-over-year basis. As a group, equities research analysts forecast that Everest Group, Ltd. will post 61.66 EPS for the current year.

Everest Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Monday, September 16th will be paid a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend is Monday, September 16th. Everest Group’s dividend payout ratio (DPR) is presently 11.89%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on EG shares. Morgan Stanley dropped their price target on shares of Everest Group from $450.00 to $445.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 10th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $403.00 target price on shares of Everest Group in a research report on Friday, August 30th. TD Cowen cut their price target on shares of Everest Group from $419.00 to $405.00 and set a “hold” rating on the stock in a research note on Tuesday, August 13th. Barclays initiated coverage on shares of Everest Group in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $527.00 price objective for the company. Finally, 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 research report on Thursday, August 8th. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $438.09.

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.