Ingalls & Snyder LLC Lowers Stake in Everest Group, Ltd. $EG

Ingalls & Snyder LLC lowered its stake in shares of Everest Group, Ltd. (NYSE:EG) by 14.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,028 shares of the company’s stock after selling 526 shares during the period. Ingalls & Snyder LLC’s holdings in Everest Group were worth $1,029,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. SVB Wealth LLC purchased a new stake in shares of Everest Group during the 1st quarter valued at $30,000. Tsfg LLC purchased a new stake in shares of Everest Group during the 1st quarter valued at $33,000. Zions Bancorporation National Association UT purchased a new stake in shares of Everest Group during the 1st quarter valued at $34,000. Board of the Pension Protection Fund purchased a new stake in shares of Everest Group during the 2nd quarter valued at $34,000. Finally, WPG Advisers LLC purchased a new stake in shares of Everest Group during the 1st quarter valued at $37,000. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on EG. Wolfe Research raised Everest Group to a “strong sell” rating in a research report on Tuesday, September 16th. Raymond James Financial set a $375.00 target price on Everest Group and gave the company an “outperform” rating in a research report on Monday, September 22nd. Wells Fargo & Company upped their target price on Everest Group from $371.00 to $383.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 8th. Wall Street Zen raised Everest Group from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Everest Group in a research report on Saturday. Five investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $382.79.

Everest Group Trading Down 0.0%

Shares of Everest Group stock opened at $349.12 on Monday. The firm has a market capitalization of $14.64 billion, a PE ratio of 18.53, a P/E/G ratio of 0.24 and a beta of 0.48. Everest Group, Ltd. has a twelve month low of $320.00 and a twelve month high of $392.78. The firm’s 50-day moving average price is $345.50 and its 200 day moving average price is $342.35. 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 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. The company had revenue of $4.49 billion for the quarter, compared to analysts’ expectations of $4.22 billion. Everest Group had a net margin of 4.56% and a return on equity of 5.89%. Everest Group’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $16.85 earnings per share. On average, sell-side analysts predict that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Dividend Announcement

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