Rossby Financial LCC Raises Holdings in Everest Group, Ltd. $EG

Rossby Financial LCC lifted its stake in Everest Group, Ltd. (NYSE:EG) by 17.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 722 shares of the company’s stock after buying an additional 108 shares during the quarter. Rossby Financial LCC’s holdings in Everest Group were worth $245,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. boosted its position in Everest Group by 16.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,671 shares of the company’s stock worth $1,691,000 after purchasing an additional 658 shares in the last quarter. Amalgamated Bank boosted its position in Everest Group by 1.1% during the first quarter. Amalgamated Bank now owns 8,488 shares of the company’s stock worth $3,084,000 after purchasing an additional 95 shares in the last quarter. Vontobel Holding Ltd. boosted its position in Everest Group by 2.1% during the first quarter. Vontobel Holding Ltd. now owns 1,781 shares of the company’s stock worth $647,000 after purchasing an additional 36 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Everest Group by 1.4% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,669 shares of the company’s stock worth $1,696,000 after purchasing an additional 64 shares in the last quarter. Finally, DAVENPORT & Co LLC boosted its position in Everest Group by 17.1% during the first quarter. DAVENPORT & Co LLC now owns 22,874 shares of the company’s stock worth $8,311,000 after purchasing an additional 3,344 shares in the last quarter. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Everest Group Stock Performance

NYSE EG opened at $305.05 on Wednesday. The company has a market cap of $12.79 billion, a PE ratio of 23.23, a price-to-earnings-growth ratio of 0.23 and a beta of 0.48. The stock’s 50 day simple moving average is $345.08 and its 200-day simple moving average is $342.07. Everest Group, Ltd. has a 1-year low of $302.44 and a 1-year high of $392.78. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.38 and a quick ratio of 0.38.

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

Everest Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Wednesday, September 3rd were given a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Wednesday, September 3rd. Everest Group’s dividend payout ratio (DPR) is 60.93%.

Wall Street Analysts Forecast Growth

EG has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Everest Group in a research report on Wednesday, October 8th. Wolfe Research upgraded Everest Group to a “strong sell” rating in a research report on Tuesday, September 16th. UBS Group lowered their price target on Everest Group from $372.00 to $370.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 9th. Wall Street Zen upgraded Everest Group from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Barclays decreased their target price on Everest Group from $430.00 to $425.00 and set an “overweight” rating on the stock in a research report on Tuesday. Five analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $382.43.

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.