Greenwood Capital Associates LLC Sells 317 Shares of Everest Group, Ltd. $EG

Greenwood Capital Associates LLC cut its stake in Everest Group, Ltd. (NYSE:EG) by 17.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,519 shares of the company’s stock after selling 317 shares during the period. Greenwood Capital Associates LLC’s holdings in Everest Group were worth $516,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC lifted its stake in Everest Group by 3.7% during the first quarter. Flagship Harbor Advisors LLC now owns 843 shares of the company’s stock worth $306,000 after purchasing an additional 30 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. boosted its stake in shares of Everest Group by 3.0% during the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 1,025 shares of the company’s stock valued at $372,000 after purchasing an additional 30 shares during the period. Legacy Advisors LLC boosted its stake in shares of Everest Group by 5.5% during the first quarter. Legacy Advisors LLC now owns 599 shares of the company’s stock valued at $218,000 after purchasing an additional 31 shares during the period. Farther Finance Advisors LLC raised its holdings in Everest Group by 4.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 816 shares of the company’s stock valued at $277,000 after buying an additional 34 shares during the last quarter. Finally, Vontobel Holding Ltd. raised its holdings in Everest Group by 2.1% during the 1st quarter. Vontobel Holding Ltd. now owns 1,781 shares of the company’s stock valued at $647,000 after buying an additional 36 shares during the last quarter. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Everest Group Stock Performance

Shares of EG stock opened at $356.78 on Friday. Everest Group, Ltd. has a 12 month low of $320.00 and a 12 month high of $407.30. The stock has a market cap of $14.96 billion, a PE ratio of 18.94, a price-to-earnings-growth ratio of 0.26 and a beta of 0.48. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.24. The company’s fifty day moving average price is $339.34 and its 200-day moving average price is $342.70.

Everest Group (NYSE:EG) last announced its earnings results on Wednesday, July 30th. The company reported $17.36 EPS for the quarter, beating analysts’ consensus estimates of $15.14 by $2.22. Everest Group had a net margin of 4.56% and a return on equity of 5.89%. The firm had revenue of $4.49 billion for the quarter, compared to analysts’ expectations of $4.22 billion. During the same quarter in the previous year, the business posted $16.85 EPS. The company’s quarterly revenue was up 6.2% on a year-over-year basis. On average, equities analysts expect that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Wednesday, September 3rd were paid a $2.00 dividend. The ex-dividend date was Wednesday, September 3rd. This represents a $8.00 annualized dividend and a dividend yield of 2.2%. Everest Group’s dividend payout ratio is presently 42.46%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on EG shares. Weiss Ratings restated a “hold (c)” rating on shares of Everest Group in a research report on Saturday, September 27th. Wolfe Research raised Everest Group to a “strong sell” rating in a research note on Tuesday, September 16th. Evercore ISI increased their price objective on Everest Group from $380.00 to $384.00 and gave the stock an “in-line” rating in a report on Wednesday. Keefe, Bruyette & Woods increased their price objective on Everest Group from $405.00 to $416.00 and gave the stock an “outperform” rating in a report on Wednesday, August 6th. Finally, Raymond James Financial set a $375.00 price objective on shares of Everest Group and gave the company an “outperform” rating in a research report on Monday, September 22nd. Six analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $386.67.

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.