Optimize Financial Inc Makes New $378,000 Investment in Everest Group, Ltd. $EG

Optimize Financial Inc purchased a new position in shares of Everest Group, Ltd. (NYSE:EG) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,040 shares of the company’s stock, valued at approximately $378,000.

A number of other institutional investors have also recently bought and sold shares of EG. Sunbelt Securities Inc. acquired a new stake in Everest Group during the fourth quarter worth $29,000. SVB Wealth LLC acquired a new stake in Everest Group during the first quarter worth $30,000. Tsfg LLC acquired a new stake in Everest Group during the first quarter worth $33,000. Zions Bancorporation National Association UT acquired a new stake in Everest Group during the first quarter worth $34,000. Finally, WPG Advisers LLC acquired a new stake in Everest Group during the first quarter worth $37,000. Institutional investors and hedge funds own 92.64% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on EG. Keefe, Bruyette & Woods boosted their target price on shares of Everest Group from $405.00 to $416.00 and gave the company an “outperform” rating in a research note on Wednesday, August 6th. Barclays boosted their target price on shares of Everest Group from $394.00 to $398.00 and gave the company an “overweight” rating in a research note on Monday, July 7th. Citigroup began coverage on shares of Everest Group in a research note on Wednesday, August 13th. They issued a “neutral” rating and a $362.00 target price on the stock. Cantor Fitzgerald upgraded shares of Everest Group to a “hold” rating in a research note on Wednesday, August 13th. Finally, Morgan Stanley boosted their target price on shares of Everest Group from $330.00 to $350.00 and gave the company an “equal weight” rating in a research note on Monday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, Everest Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $397.14.

Everest Group Stock Performance

Everest Group stock opened at $340.80 on Wednesday. The stock has a 50-day simple moving average of $336.52 and a 200 day simple moving average of $343.94. 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 12-month low of $320.00 and a 12-month high of $407.30. The stock has a market capitalization of $14.29 billion, a price-to-earnings ratio of 18.09, a P/E/G ratio of 0.25 and a beta of 0.51.

Everest Group (NYSE:EG) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $17.36 earnings per share for the quarter, topping the consensus estimate of $15.14 by $2.22. The firm had revenue of $4.49 billion during the quarter, compared to analysts’ expectations of $4.22 billion. Everest Group had a return on equity of 5.89% and a net margin of 4.56%.The company’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the business posted $16.85 EPS. On average, research analysts anticipate that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Wednesday, September 3rd will be issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Wednesday, September 3rd. Everest Group’s payout ratio is currently 42.46%.

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.