R Squared Ltd Grows Stock Position in Everest Group, Ltd. $EG

R Squared Ltd lifted its position in shares of Everest Group, Ltd. (NYSE:EG) by 271.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,900 shares of the company’s stock after acquiring an additional 2,120 shares during the quarter. R Squared Ltd’s holdings in Everest Group were worth $986,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in EG. SVB Wealth LLC purchased a new stake in shares of Everest Group in the first quarter worth about $30,000. Tsfg LLC bought a new stake in Everest Group during the 1st quarter worth approximately $33,000. Zions Bancorporation National Association UT purchased a new stake in Everest Group in the 1st quarter worth approximately $34,000. Board of the Pension Protection Fund bought a new position in Everest Group in the 2nd quarter valued at $34,000. Finally, WPG Advisers LLC purchased a new position in shares of Everest Group during the 1st quarter valued at $37,000. Institutional investors own 92.64% of the company’s stock.

Everest Group Stock Performance

Shares of EG opened at $349.50 on Friday. Everest Group, Ltd. has a 52 week low of $320.00 and a 52 week high of $392.78. 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 business’s 50 day moving average price is $345.16 and its 200-day moving average price is $342.19. The stock has a market cap of $14.66 billion, a P/E ratio of 18.55, a P/E/G ratio of 0.24 and a beta of 0.48.

Everest Group (NYSE:EG) last released its quarterly earnings data on Wednesday, July 30th. The company reported $17.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $15.14 by $2.22. The business had revenue of $4.49 billion for 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 firm’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the firm posted $16.85 EPS. Equities 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 was paid on Friday, September 19th. Stockholders of record on Wednesday, September 3rd were paid a $2.00 dividend. The ex-dividend date of this dividend was Wednesday, September 3rd. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.3%. Everest Group’s dividend payout ratio is 42.46%.

Analyst Upgrades and Downgrades

EG has been the subject of several research analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Everest Group in a research note on Wednesday, October 8th. Cantor Fitzgerald upgraded Everest Group to a “hold” rating in a research report on Wednesday, August 13th. Wolfe Research raised Everest Group to a “strong sell” rating in a report on Tuesday, September 16th. UBS Group dropped their target price on shares of Everest Group from $372.00 to $370.00 and set a “neutral” rating for the company in a research report on Wednesday, July 9th. Finally, Barclays raised their price objective on shares of Everest Group from $405.00 to $430.00 and gave the company an “overweight” rating in a research report on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Everest Group currently has an average rating of “Hold” and a consensus price target of $382.79.

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.