Everest Group, Ltd. $EG Shares Bought by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC raised its position in Everest Group, Ltd. (NYSE:EG) by 25.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,647 shares of the company’s stock after purchasing an additional 737 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Everest Group were worth $1,239,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Truist Financial Corp boosted its holdings in Everest Group by 16.9% in the 1st quarter. Truist Financial Corp now owns 108,596 shares of the company’s stock valued at $39,456,000 after purchasing an additional 15,660 shares during the last quarter. Fifth Third Bancorp boosted its holdings in Everest Group by 18.1% in the 1st quarter. Fifth Third Bancorp now owns 1,151 shares of the company’s stock valued at $418,000 after purchasing an additional 176 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in Everest Group by 12.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 172,718 shares of the company’s stock valued at $62,753,000 after purchasing an additional 18,780 shares during the last quarter. Wedge Capital Management L L P NC boosted its holdings in 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 valued at $3,586,000 after purchasing an additional 1,235 shares during the last quarter. Finally, SG Americas Securities LLC lifted 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 last quarter. 92.64% of the stock is currently owned by institutional investors and hedge funds.

Everest Group Trading Up 0.1%

Shares of NYSE:EG opened at $335.59 on Tuesday. Everest Group, Ltd. has a 52 week low of $320.00 and a 52 week high of $407.30. The company’s 50 day moving average is $336.61 and its two-hundred day moving average is $342.99. 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 market cap of $14.07 billion, a PE ratio of 17.81, a P/E/G ratio of 0.25 and a beta of 0.51.

Everest Group (NYSE:EG) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $17.36 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $4.22 billion. During the same period in the prior year, the firm posted $16.85 EPS. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. Equities analysts predict 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. Shareholders of record on Wednesday, September 3rd were given 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 2.4%. Everest Group’s dividend payout ratio is currently 42.46%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on EG. Wells Fargo & Company restated a “mixed” rating on shares of Everest Group in a report on Monday, August 4th. Keefe, Bruyette & Woods upped their price objective on shares of Everest Group from $405.00 to $416.00 and gave the stock an “outperform” rating in a report on Wednesday, August 6th. Barclays upped their price objective on shares of Everest Group from $394.00 to $398.00 and gave the stock an “overweight” rating in a report on Monday, July 7th. Raymond James Financial set a $375.00 price objective on shares of Everest Group and gave the stock an “outperform” rating in a report on Monday. Finally, Citigroup assumed coverage on shares of Everest Group in a report on Wednesday, August 13th. They issued a “neutral” rating and a $362.00 price objective on the stock. Six investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $387.47.

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.