Everest Group, Ltd. $EG Shares Bought by Parallel Advisors LLC

Parallel Advisors LLC grew its holdings in shares of Everest Group, Ltd. (NYSE:EG) by 20.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 659 shares of the company’s stock after purchasing an additional 114 shares during the period. Parallel Advisors LLC’s holdings in Everest Group were worth $224,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Truist Financial Corp increased its holdings in shares of Everest Group by 16.9% in the 1st quarter. Truist Financial Corp now owns 108,596 shares of the company’s stock worth $39,456,000 after acquiring an additional 15,660 shares during the period. Fifth Third Bancorp increased its holdings in shares of Everest Group by 18.1% in the 1st quarter. Fifth Third Bancorp now owns 1,151 shares of the company’s stock worth $418,000 after acquiring an additional 176 shares during the period. Envestnet Asset Management Inc. increased its holdings in shares of Everest Group by 12.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 172,718 shares of the company’s stock worth $62,753,000 after acquiring an additional 18,780 shares during the period. Wedge Capital Management L L P NC increased its holdings in shares of Everest Group by 14.3% in the 1st quarter. Wedge Capital Management L L P NC now owns 9,871 shares of the company’s stock worth $3,586,000 after acquiring an additional 1,235 shares during the period. Finally, SG Americas Securities LLC increased its holdings in shares of Everest Group by 127.3% in the 1st quarter. SG Americas Securities LLC now owns 5,842 shares of the company’s stock worth $2,123,000 after acquiring an additional 3,272 shares during the period. Institutional investors and hedge funds own 92.64% of the company’s stock.

Everest Group Stock Performance

NYSE:EG opened at $335.57 on Monday. Everest Group, Ltd. has a twelve month low of $320.00 and a twelve month high of $407.30. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.24. The company has a 50-day moving average of $336.72 and a 200-day moving average of $343.19. The firm has a market cap of $14.07 billion, a price-to-earnings ratio of 17.81, a price-to-earnings-growth ratio of 0.25 and a beta of 0.51.

Everest Group (NYSE:EG) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $17.36 earnings per share for the quarter, beating the consensus estimate of $15.14 by $2.22. Everest Group had a net margin of 4.56% and a return on equity of 5.89%. The company had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.22 billion. During the same quarter last year, the firm posted $16.85 EPS. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. Analysts forecast that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Wednesday, September 3rd were issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 2.4%. The ex-dividend date was Wednesday, September 3rd. Everest Group’s dividend payout ratio (DPR) is 42.46%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on EG. Cantor Fitzgerald raised shares of Everest Group to a “hold” rating in a report on Wednesday, August 13th. Janney Montgomery Scott started coverage on shares of Everest Group in a report on Friday, June 20th. They issued a “buy” rating and a $425.00 price objective on the stock. Wells Fargo & Company reiterated a “mixed” rating on shares of Everest Group in a research report on Monday, August 4th. Citigroup started coverage on shares of Everest Group in a research report on Wednesday, August 13th. They issued a “neutral” rating and a $362.00 target price for the company. Finally, Barclays increased their target price on shares of Everest Group from $394.00 to $398.00 and gave the company an “overweight” rating in a research report on Monday, July 7th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Everest Group currently has an average rating of “Hold” and an average target price of $389.80.

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.