Legacy Wealth Asset Management LLC Acquires 42 Shares of Everest Group, Ltd. $EG

Legacy Wealth Asset Management LLC lifted its holdings in shares of Everest Group, Ltd. (NYSE:EG) by 2.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,493 shares of the company’s stock after purchasing an additional 42 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Everest Group were worth $507,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. SVB Wealth LLC bought a new stake in shares of Everest Group during the 1st quarter worth $30,000. Tsfg LLC bought a new position in shares of Everest Group during the 1st quarter worth $33,000. Zions Bancorporation National Association UT bought a new position in shares of Everest Group during the 1st quarter worth $34,000. Board of the Pension Protection Fund bought a new position in shares of Everest Group during the 2nd quarter worth $34,000. Finally, WPG Advisers LLC bought a new position in shares of Everest Group during the 1st quarter worth $37,000. 92.64% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on EG. Cantor Fitzgerald upgraded Everest Group to a “hold” rating in a research note on Wednesday, August 13th. Barclays increased their price target on Everest Group from $405.00 to $430.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 8th. UBS Group cut their price target on Everest Group from $372.00 to $370.00 and set a “neutral” rating for the company in a research note on Wednesday, July 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of Everest Group in a research note on Wednesday, October 8th. Finally, Cowen reiterated a “hold” rating on shares of Everest Group in a research note on Tuesday, October 7th. Five analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Everest Group has a consensus rating of “Hold” and a consensus target price of $382.79.

Everest Group Stock Down 0.6%

Shares of NYSE EG opened at $348.97 on Wednesday. Everest Group, Ltd. has a 52 week low of $320.00 and a 52 week high of $392.78. The business has a 50-day simple moving average of $344.67 and a two-hundred day simple moving average of $341.99. 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 company has a market cap of $14.64 billion, a P/E ratio of 18.52, a P/E/G ratio of 0.24 and a beta of 0.48.

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

Everest Group Dividend Announcement

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

About Everest Group

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.