Legacy Wealth Asset Management LLC Grows Stake in Everest Group, Ltd. (NYSE:EG)

Legacy Wealth Asset Management LLC lifted its stake in shares of Everest Group, Ltd. (NYSE:EG) by 3.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,460 shares of the company’s stock after purchasing an additional 50 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Everest Group were worth $572,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Csenge Advisory Group boosted its position in Everest Group by 2.2% during the second quarter. Csenge Advisory Group now owns 1,239 shares of the company’s stock worth $472,000 after purchasing an additional 27 shares during the period. Legend Financial Advisors Inc. boosted its holdings in Everest Group by 1.6% in the 2nd quarter. Legend Financial Advisors Inc. now owns 1,765 shares of the company’s stock worth $672,000 after buying an additional 27 shares during the period. First Trust Direct Indexing L.P. boosted its holdings in Everest Group by 0.9% in the 1st quarter. First Trust Direct Indexing L.P. now owns 2,976 shares of the company’s stock worth $1,183,000 after buying an additional 28 shares during the period. Wedmont Private Capital grew its stake in Everest Group by 4.8% in the 3rd quarter. Wedmont Private Capital now owns 638 shares of the company’s stock valued at $238,000 after buying an additional 29 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its holdings in Everest Group by 36.9% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 115 shares of the company’s stock valued at $44,000 after acquiring an additional 31 shares during the period. Institutional investors own 92.64% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on EG. BMO Capital Markets reaffirmed a “market perform” rating and issued a $403.00 price target on shares of Everest Group in a report on Friday, August 30th. Barclays began coverage on Everest Group in a report on Wednesday, September 4th. They set an “overweight” rating and a $527.00 target price for the company. Wells Fargo & Company increased their price target on shares of Everest Group from $393.00 to $406.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Morgan Stanley reduced their price objective on shares of Everest Group from $450.00 to $445.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. Finally, Bank of America lowered their target price on shares of Everest Group from $496.00 to $485.00 and set a “buy” rating on the stock in a research note on Thursday, October 10th. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $439.27.

Everest Group Trading Down 1.9 %

NYSE EG opened at $379.61 on Friday. 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 stock’s 50-day simple moving average is $387.31 and its two-hundred day simple moving average is $380.54. Everest Group, Ltd. has a twelve month low of $343.76 and a twelve month high of $417.92. The company has a market capitalization of $16.50 billion, a price-to-earnings ratio of 5.64, a PEG ratio of 2.71 and a beta of 0.61.

Everest Group (NYSE:EG) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $16.85 earnings per share for the quarter, missing analysts’ consensus estimates of $16.97 by ($0.12). The firm had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.32 billion. Everest Group had a net margin of 18.36% and a return on equity of 24.09%. The business’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period in the prior year, the business posted $15.21 earnings per share. Research analysts forecast that Everest Group, Ltd. will post 60.97 EPS for the current fiscal year.

Everest Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Monday, September 16th were paid a $2.00 dividend. The ex-dividend date was Monday, September 16th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.11%. Everest Group’s dividend payout ratio (DPR) is 11.89%.

Everest Group 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.