Raymond James & Associates boosted its position in shares of Everest Group, Ltd. (NYSE:EG – Free Report) by 29.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,966 shares of the company’s stock after acquiring an additional 7,306 shares during the period. Raymond James & Associates owned 0.07% of Everest Group worth $12,525,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently bought and sold shares of the company. Csenge Advisory Group increased its holdings in shares of Everest Group by 2.2% during the second quarter. Csenge Advisory Group now owns 1,239 shares of the company’s stock valued at $472,000 after acquiring an additional 27 shares in the last quarter. Legend Financial Advisors Inc. lifted its stake in shares of Everest Group by 1.6% during the second quarter. Legend Financial Advisors Inc. now owns 1,765 shares of the company’s stock worth $672,000 after buying an additional 27 shares during the period. First Trust Direct Indexing L.P. lifted its stake in shares of Everest Group by 0.9% during the first quarter. First Trust Direct Indexing L.P. now owns 2,976 shares of the company’s stock worth $1,183,000 after buying an additional 28 shares during the period. Wedmont Private Capital grew its holdings in shares of Everest Group by 4.8% during the third quarter. Wedmont Private Capital now owns 638 shares of the company’s stock valued at $238,000 after buying an additional 29 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its position in shares of Everest Group by 36.9% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 115 shares of the company’s stock valued at $44,000 after acquiring an additional 31 shares during the period. 92.64% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of analysts have commented on EG shares. Keefe, Bruyette & Woods lowered their price target on Everest Group from $454.00 to $438.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Jefferies Financial Group upped their target price on Everest Group from $440.00 to $457.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Morgan Stanley reduced 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. Bank of America dropped their price objective on shares of Everest Group from $496.00 to $485.00 and set a “buy” rating on the stock in a report on Thursday, October 10th. Finally, Barclays initiated coverage on shares of Everest Group in a report on Wednesday, September 4th. They set an “overweight” rating and a $527.00 target price for the company. Five analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $439.27.
Everest Group Price Performance
NYSE:EG opened at $379.61 on Monday. The stock has a market capitalization of $16.50 billion, a PE ratio of 5.64, a price-to-earnings-growth ratio of 2.71 and a beta of 0.61. Everest Group, Ltd. has a 52 week low of $343.76 and a 52 week high of $417.92. 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 stock’s 50-day moving average price is $387.31 and its 200-day moving average price is $380.60.
Everest Group (NYSE:EG – Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $16.85 EPS for the quarter, missing analysts’ consensus estimates of $16.97 by ($0.12). Everest Group had a net margin of 18.36% and a return on equity of 24.09%. The business had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.32 billion. During the same quarter last year, the firm earned $15.21 earnings per share. The firm’s quarterly revenue was up 15.8% compared to the same quarter last year. As a group, equities analysts expect that Everest Group, Ltd. will post 60.97 EPS for the current fiscal year.
Everest Group Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Monday, September 16th were given a $2.00 dividend. The ex-dividend date was Monday, September 16th. This represents a $8.00 annualized dividend and a dividend yield of 2.11%. Everest Group’s dividend payout ratio (DPR) is 11.89%.
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.
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