Nisa Investment Advisors LLC Boosts Stock Position in Everest Group, Ltd. (NYSE:EG)

Nisa Investment Advisors LLC increased its stake in shares of Everest Group, Ltd. (NYSE:EG) by 73.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 24,805 shares of the company’s stock after buying an additional 10,537 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Everest Group were worth $9,719,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Boston Partners boosted its holdings in Everest Group by 29.1% in the 1st quarter. Boston Partners now owns 1,197,457 shares of the company’s stock valued at $475,750,000 after purchasing an additional 269,665 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Everest Group by 1.8% during the 2nd quarter. AQR Capital Management LLC now owns 1,032,479 shares of the company’s stock valued at $393,395,000 after buying an additional 17,885 shares during the period. Champlain Investment Partners LLC lifted its holdings in Everest Group by 5.3% in the first quarter. Champlain Investment Partners LLC now owns 906,100 shares of the company’s stock valued at $360,175,000 after acquiring an additional 45,705 shares during the last quarter. William Blair Investment Management LLC grew its position in Everest Group by 30.2% in the second quarter. William Blair Investment Management LLC now owns 580,171 shares of the company’s stock worth $221,057,000 after acquiring an additional 134,517 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Everest Group by 7.7% during the second quarter. Dimensional Fund Advisors LP now owns 535,121 shares of the company’s stock worth $203,891,000 after acquiring an additional 38,254 shares during the last quarter. Institutional investors and hedge funds own 92.64% of the company’s stock.

Everest Group Stock Performance

Shares of EG stock opened at $379.97 on Thursday. The firm has a 50 day moving average of $387.36 and a two-hundred day moving average of $380.82. The stock has a market capitalization of $16.36 billion, a PE ratio of 5.61, a P/E/G ratio of 2.67 and a beta of 0.61. 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, Ltd. has a 52 week low of $343.76 and a 52 week high of $417.92.

Everest Group (NYSE:EG) last released its earnings results on Wednesday, July 31st. The company reported $16.85 EPS for the quarter, missing the consensus estimate of $16.97 by ($0.12). The company had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.32 billion. Everest Group had a return on equity of 24.09% and a net margin of 18.36%. The company’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $15.21 earnings per share. On average, research analysts predict that Everest Group, Ltd. will post 60.97 EPS for the current fiscal year.

Everest Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Monday, September 16th were given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend was Monday, September 16th. Everest Group’s dividend payout ratio is presently 11.81%.

Analyst Upgrades and Downgrades

EG has been the topic of several recent analyst reports. TD Cowen decreased their price target on Everest Group from $419.00 to $405.00 and set a “hold” rating on the stock in a research note on Tuesday, August 13th. UBS Group raised shares of Everest Group to a “hold” rating in a research report on Wednesday, October 9th. Morgan Stanley dropped their price target on shares of Everest Group from $450.00 to $445.00 and set an “overweight” rating for the company in a research report on Wednesday, July 10th. Keefe, Bruyette & Woods decreased their price objective on shares of Everest Group from $454.00 to $438.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Finally, Bank of America dropped their target price on shares of Everest Group from $496.00 to $485.00 and set a “buy” rating for the company in a report on Thursday, October 10th. Five investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Everest Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $439.27.

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.