Ethic Inc. Has $1.67 Million Holdings in Everest Group, Ltd. $EG

Ethic Inc. grew its stake in shares of Everest Group, Ltd. (NYSE:EG) by 2.6% in the 2nd quarter, HoldingsChannel reports. The fund owned 4,961 shares of the company’s stock after purchasing an additional 125 shares during the quarter. Ethic Inc.’s holdings in Everest Group were worth $1,671,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Everest Group by 0.3% during the first quarter. Vanguard Group Inc. now owns 5,577,376 shares of the company’s stock worth $2,026,428,000 after acquiring an additional 17,346 shares during the last quarter. Vulcan Value Partners LLC increased its holdings in shares of Everest Group by 35.8% during the first quarter. Vulcan Value Partners LLC now owns 1,328,732 shares of the company’s stock worth $482,832,000 after purchasing an additional 350,019 shares during the period. Boston Partners increased its holdings in shares of Everest Group by 3.3% during the first quarter. Boston Partners now owns 696,765 shares of the company’s stock worth $253,150,000 after purchasing an additional 22,432 shares during the period. Altrinsic Global Advisors LLC increased its holdings in shares of Everest Group by 10.7% during the first quarter. Altrinsic Global Advisors LLC now owns 682,979 shares of the company’s stock worth $248,147,000 after purchasing an additional 66,041 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of Everest Group by 11.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 552,972 shares of the company’s stock worth $200,911,000 after purchasing an additional 56,410 shares during the period. 92.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on EG. Wall Street Zen raised shares of Everest Group from a “hold” rating to a “buy” rating in a report on Saturday. Evercore ISI raised their target price on shares of Everest Group from $380.00 to $384.00 and gave the stock an “in-line” rating in a report on Wednesday, October 1st. Keefe, Bruyette & Woods raised their target price on shares of Everest Group from $405.00 to $416.00 and gave the stock an “outperform” rating in a report on Wednesday, August 6th. Raymond James Financial set a $375.00 target price on shares of Everest Group and gave the stock an “outperform” rating in a report on Monday, September 22nd. Finally, Cantor Fitzgerald raised shares of Everest Group to a “hold” rating in a research note on Wednesday, August 13th. Five equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $382.79.

Everest Group Stock Performance

Shares of NYSE:EG opened at $349.12 on Friday. The company’s 50 day simple moving average is $345.50 and its 200 day simple moving average is $342.40. The stock has a market capitalization of $14.64 billion, a price-to-earnings ratio of 18.53, a price-to-earnings-growth ratio of 0.24 and a beta of 0.48. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.38 and a quick ratio of 0.38. Everest Group, Ltd. has a 1 year low of $320.00 and a 1 year high of $392.78.

Everest Group (NYSE:EG) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $17.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $15.14 by $2.22. The business 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%. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period last year, the firm posted $16.85 earnings per share. As a group, research analysts predict that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Announces Dividend

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