BNP Paribas Financial Markets Trims Stake in Everest Group, Ltd. (NYSE:EG)

BNP Paribas Financial Markets lessened its position in Everest Group, Ltd. (NYSE:EGFree Report) by 58.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 35,202 shares of the company’s stock after selling 50,386 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.07% of Everest Group worth $13,993,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Intech Investment Management LLC bought a new stake in shares of Everest Group during the 4th quarter valued at $18,995,000. Dai ichi Life Insurance Company Ltd purchased a new stake in shares of Everest Group in the 4th quarter worth approximately $1,271,000. Tower Research Capital LLC TRC bought a new position in Everest Group during the 4th quarter valued at approximately $2,372,000. Corient Private Wealth LLC purchased a new position in Everest Group during the fourth quarter valued at $7,139,000. Finally, Perpetual Ltd grew its stake in shares of Everest Group by 92.0% in the first quarter. Perpetual Ltd now owns 4,724 shares of the company’s stock worth $1,878,000 after acquiring an additional 2,264 shares during the last quarter. 92.64% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on EG. Wells Fargo & Company reduced their target price on Everest Group from $402.00 to $397.00 and set an “equal weight” rating for the company in a report on Thursday, April 11th. Keefe, Bruyette & Woods raised their price target on Everest Group from $445.00 to $457.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Finally, Morgan Stanley reduced their price objective on Everest Group from $466.00 to $450.00 and set an “overweight” rating for the company in a research report on Monday, April 15th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $432.11.

Get Our Latest Analysis on Everest Group

Everest Group Trading Up 2.8 %

EG opened at $373.04 on Tuesday. The business’s 50 day moving average price is $379.91 and its 200 day moving average price is $375.18. The stock has a market capitalization of $16.21 billion, a PE ratio of 5.54, a P/E/G ratio of 3.18 and a beta of 0.63. Everest Group, Ltd. has a one year low of $343.36 and a one year high of $417.92. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.38 and a current ratio of 0.38.

Everest Group (NYSE:EGGet Free Report) last announced its quarterly earnings results on Monday, April 29th. The company reported $16.32 EPS for the quarter, topping the consensus estimate of $15.98 by $0.34. Everest Group had a net margin of 18.69% and a return on equity of 24.86%. The firm had revenue of $4.13 billion for the quarter, compared to analyst estimates of $4.05 billion. During the same period last year, the business earned $11.31 EPS. Everest Group’s revenue for the quarter was up 25.8% compared to the same quarter last year. As a group, equities research analysts expect that Everest Group, Ltd. will post 61.65 EPS for the current year.

Everest Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Wednesday, May 29th were paid a $2.00 dividend. This is a boost from Everest Group’s previous quarterly dividend of $1.75. This represents a $8.00 annualized dividend and a yield of 2.14%. The ex-dividend date was Wednesday, May 29th. Everest Group’s payout ratio is presently 11.89%.

Everest Group Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Everest Group (NYSE:EG)

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