Farther Finance Advisors LLC Grows Holdings in Everest Group, Ltd. $EG

Farther Finance Advisors LLC increased its position in shares of Everest Group, Ltd. (NYSE:EG) by 4.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 816 shares of the company’s stock after purchasing an additional 34 shares during the quarter. Farther Finance Advisors LLC’s holdings in Everest Group were worth $277,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. SVB Wealth LLC purchased a new position in Everest Group in the first quarter valued at about $30,000. Tsfg LLC purchased a new position in Everest Group in the first quarter valued at about $33,000. Zions Bancorporation National Association UT purchased a new position in Everest Group in the first quarter valued at about $34,000. WPG Advisers LLC purchased a new position in Everest Group in the first quarter valued at about $37,000. Finally, Bruce G. Allen Investments LLC boosted its stake in Everest Group by 79.1% in the first quarter. Bruce G. Allen Investments LLC now owns 154 shares of the company’s stock valued at $56,000 after acquiring an additional 68 shares during the last quarter. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on EG. Keefe, Bruyette & Woods boosted their target price on shares of Everest Group from $405.00 to $416.00 and gave the company an “outperform” rating in a research note on Wednesday, August 6th. Wells Fargo & Company reiterated a “mixed” rating on shares of Everest Group in a research note on Monday, August 4th. UBS Group lowered their price target on shares of Everest Group from $372.00 to $370.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 9th. Citigroup began coverage on shares of Everest Group in a research report on Wednesday, August 13th. They issued a “neutral” rating and a $362.00 price target on the stock. Finally, Barclays boosted their price target 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. Six investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Everest Group presently has a consensus rating of “Hold” and an average price target of $387.47.

Everest Group Price Performance

EG stock opened at $349.86 on Wednesday. The firm has a market cap of $14.67 billion, a P/E ratio of 18.57, a P/E/G ratio of 0.26 and a beta of 0.51. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.38 and a current ratio of 0.38. The firm’s fifty day moving average is $338.20 and its 200 day moving average is $342.74. Everest Group, Ltd. has a 52 week low of $320.00 and a 52 week high of $407.30.

Everest Group (NYSE:EG) last announced its quarterly earnings results 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 business had revenue of $4.49 billion during the quarter, compared to analysts’ expectations of $4.22 billion. During the same quarter in the prior year, the company posted $16.85 EPS. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. Research analysts predict that Everest Group, Ltd. will post 47.93 earnings per share for the current year.

Everest Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Wednesday, September 3rd were given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Wednesday, September 3rd. Everest Group’s dividend payout ratio (DPR) is 42.46%.

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.