Everest Group, Ltd. $EG Shares Purchased by Wealthstar Advisors LLC

Wealthstar Advisors LLC increased its stake in shares of Everest Group, Ltd. (NYSE:EG) by 18.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,458 shares of the company’s stock after purchasing an additional 226 shares during the quarter. Wealthstar Advisors LLC’s holdings in Everest Group were worth $496,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Truist Financial Corp lifted its holdings in shares of Everest Group by 16.9% during the first quarter. Truist Financial Corp now owns 108,596 shares of the company’s stock worth $39,456,000 after purchasing an additional 15,660 shares during the period. Fifth Third Bancorp raised its position in Everest Group by 18.1% in the first quarter. Fifth Third Bancorp now owns 1,151 shares of the company’s stock worth $418,000 after acquiring an additional 176 shares in the last quarter. Envestnet Asset Management Inc. raised its position in Everest Group by 12.2% in the first quarter. Envestnet Asset Management Inc. now owns 172,718 shares of the company’s stock worth $62,753,000 after acquiring an additional 18,780 shares in the last quarter. SG Americas Securities LLC raised its position in Everest Group by 127.3% in the first quarter. SG Americas Securities LLC now owns 5,842 shares of the company’s stock worth $2,123,000 after acquiring an additional 3,272 shares in the last quarter. Finally, Sowell Financial Services LLC purchased a new position in Everest Group in the first quarter worth $231,000. 92.64% of the stock is owned by institutional investors and hedge funds.

Everest Group Trading Down 2.3%

Everest Group stock opened at $351.58 on Friday. The stock has a market cap of $14.75 billion, a PE ratio of 18.66, a P/E/G ratio of 0.27 and a beta of 0.48. The stock has a 50-day moving average price of $341.43 and a 200 day moving average price of $342.79. Everest Group, Ltd. has a 52 week low of $320.00 and a 52 week high of $402.11. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.24.

Everest Group (NYSE:EG) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $17.36 EPS for the quarter, topping analysts’ consensus estimates of $15.14 by $2.22. The firm had revenue of $4.49 billion during the quarter, compared to analysts’ expectations of $4.22 billion. Everest Group had a return on equity of 5.89% and a net margin of 4.56%.The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the business posted $16.85 EPS. Equities research analysts predict that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Wednesday, September 3rd were paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Wednesday, September 3rd. Everest Group’s dividend payout ratio (DPR) is presently 42.46%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on EG shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Everest Group in a research report on Wednesday. Citigroup started coverage on Everest Group in a research report on Wednesday, August 13th. They issued a “neutral” rating and a $362.00 price objective for the company. Barclays increased their price objective on Everest Group from $405.00 to $430.00 and gave the stock an “overweight” rating in a research report on Wednesday. Wolfe Research upgraded Everest Group to a “strong sell” rating in a research report on Tuesday, September 16th. Finally, Cowen restated a “hold” rating on shares of Everest Group in a research report on Tuesday. Five research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $382.79.

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.