Intech Investment Management LLC Has $13.11 Million Holdings in Everest Group, Ltd. $EG

Intech Investment Management LLC decreased its holdings in Everest Group, Ltd. (NYSE:EG) by 26.4% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 38,576 shares of the company’s stock after selling 13,821 shares during the quarter. Intech Investment Management LLC’s holdings in Everest Group were worth $13,110,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in EG. SVB Wealth LLC acquired a new position in shares of Everest Group during the 1st quarter worth approximately $30,000. Zions Bancorporation National Association UT bought a new position in Everest Group during the first quarter worth $34,000. Board of the Pension Protection Fund acquired a new position in shares of Everest Group in the second quarter valued at $34,000. WPG Advisers LLC acquired a new position in shares of Everest Group in the first quarter valued at $37,000. Finally, Allworth Financial LP lifted its stake in shares of Everest Group by 96.8% during the 2nd quarter. Allworth Financial LP now owns 183 shares of the company’s stock worth $62,000 after buying an additional 90 shares during the last quarter. 92.64% of the stock is currently owned by institutional investors.

Everest Group Stock Performance

Shares of NYSE:EG opened at $326.11 on Friday. Everest Group, Ltd. has a 12-month low of $302.44 and a 12-month high of $392.78. The company’s 50 day moving average price is $339.11 and its two-hundred day moving average price is $339.14. The firm has a market cap of $13.69 billion, a PE ratio of 24.84, a PEG ratio of 0.25 and a beta of 0.47. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.24.

Everest Group (NYSE:EG) last issued its quarterly earnings results on Monday, October 27th. The company reported $7.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $13.39 by ($5.85). The company had revenue of $4.32 billion during the quarter, compared to the consensus estimate of $3.86 billion. Everest Group had a net margin of 3.12% and a return on equity of 3.81%. The company’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter last year, the firm posted $11.80 earnings per share. Equities research analysts predict that Everest Group, Ltd. will post 47.93 earnings per share for the current year.

Everest Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Wednesday, November 26th will be given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Wednesday, November 26th. Everest Group’s dividend payout ratio is presently 60.93%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Wolfe Research upgraded shares of Everest Group from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, October 29th. Cowen restated a “hold” rating on shares of Everest Group in a report on Tuesday, October 7th. Citigroup began coverage on Everest Group in a research report on Wednesday, August 13th. They issued a “neutral” rating and a $362.00 target price on the stock. Cantor Fitzgerald raised Everest Group to a “hold” rating in a report on Wednesday, August 13th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Everest Group in a report on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $372.36.

Insider Buying and Selling at Everest Group

In other news, Director Allan Levine acquired 3,100 shares of Everest Group stock in a transaction on Wednesday, October 29th. The shares were purchased at an average cost of $306.08 per share, for a total transaction of $948,848.00. Following the completion of the purchase, the director directly owned 4,153 shares of the company’s stock, valued at approximately $1,271,150.24. This represents a 294.40% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director William F. Galtney, Jr. bought 11,385 shares of the firm’s stock in a transaction on Wednesday, October 29th. The stock was purchased at an average cost of $307.38 per share, for a total transaction of $3,499,521.30. Following the completion of the acquisition, the director owned 45,491 shares in the company, valued at approximately $13,983,023.58. This trade represents a 33.38% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 1.10% of the company’s stock.

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.