Everest Group, Ltd. $EG Stock Position Raised by Vest Financial LLC

Vest Financial LLC raised its position in shares of Everest Group, Ltd. (NYSE:EG) by 96.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 127,678 shares of the company’s stock after purchasing an additional 62,566 shares during the quarter. Vest Financial LLC owned 0.33% of Everest Group worth $46,624,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of EG. BlackRock Inc. purchased a new stake in shares of Everest Group in the second quarter worth $1,150,555,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of Everest Group during the 2nd quarter valued at $350,718,000. William Blair Investment Management LLC bought a new position in Everest Group in the 2nd quarter worth $171,426,000. Donald Smith & CO. Inc. bought a new position in Everest Group in the 2nd quarter worth $153,206,000. Finally, Hsbc Holdings PLC boosted its holdings in Everest Group by 507.4% in the 1st quarter. Hsbc Holdings PLC now owns 449,919 shares of the company’s stock worth $147,102,000 after buying an additional 375,846 shares during the period. 92.64% of the stock is currently owned by institutional investors.

Everest Group Stock Performance

EG opened at $394.84 on Thursday. The stock has a market capitalization of $15.14 billion, a price-to-earnings ratio of 8.35, a PEG ratio of 0.58 and a beta of 0.26. The company has a fifty day moving average of $374.35 and a 200 day moving average of $360.73. Everest Group, Ltd. has a fifty-two week low of $302.44 and a fifty-two week high of $401.07. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.35 and a current ratio of 0.35.

Everest Group (NYSE:EG) last announced its quarterly earnings results on Tuesday, June 30th. The company reported $14.85 earnings per share (EPS) for the quarter. The company had revenue of $3.96 billion for the quarter. Everest Group had a net margin of 11.41% and a return on equity of 13.63%. As a group, sell-side analysts forecast that Everest Group, Ltd. will post 53.69 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Wednesday, September 9th were given a dividend of $2.00 per share. The ex-dividend date was Wednesday, September 9th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.0%. Everest Group’s dividend payout ratio (DPR) is presently 16.92%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Weiss Ratings upgraded Everest Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday. Morgan Stanley boosted their price objective on Everest Group from $355.00 to $360.00 and gave the company an “equal weight” rating in a research report on Monday, July 6th. Citigroup increased their target price on Everest Group from $395.00 to $415.00 and gave the stock a “neutral” rating in a research report on Friday, July 31st. Atlantic Securities set a $484.00 target price on Everest Group in a research note on Wednesday, July 15th. Finally, Royal Bank Of Canada initiated coverage on Everest Group in a research note on Tuesday, September 22nd. They set an “outperform” rating and a $455.00 target price on the stock. Six equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $407.94.

About Everest Group

Everest Group, Ltd. is a global insurance and reinsurance company that provides property and casualty coverage to businesses, institutions, and other insurers. Its operations focus on assuming and managing risks through reinsurance, as well as offering insurance products in selected specialty and commercial markets.

The company’s reinsurance business supports insurers across lines such as property, casualty, specialty, and other risks. Through its insurance platform, Everest provides coverage for commercial customers and specialty exposures, including property, casualty, professional liability, and other products that may vary by market.