GAMMA Investing LLC Cuts Position in Everest Group, Ltd. $EG

GAMMA Investing LLC lowered its stake in shares of Everest Group, Ltd. (NYSE:EG) by 15.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 408 shares of the company’s stock after selling 72 shares during the quarter. GAMMA Investing LLC’s holdings in Everest Group were worth $139,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Nuveen LLC acquired a new position in shares of Everest Group during the first quarter worth $137,418,000. Vulcan Value Partners LLC grew its stake in shares of Everest Group by 35.8% during the first quarter. Vulcan Value Partners LLC now owns 1,328,732 shares of the company’s stock worth $482,832,000 after purchasing an additional 350,019 shares in the last quarter. Perpetual Ltd acquired a new position in shares of Everest Group during the first quarter worth $37,919,000. Victory Capital Management Inc. grew its stake in shares of Everest Group by 39.7% during the first quarter. Victory Capital Management Inc. now owns 353,205 shares of the company’s stock worth $128,330,000 after purchasing an additional 100,377 shares in the last quarter. Finally, Amundi grew its stake in shares of Everest Group by 72.6% during the first quarter. Amundi now owns 180,484 shares of the company’s stock worth $65,292,000 after purchasing an additional 75,920 shares in the last quarter. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Everest Group Stock Performance

NYSE EG opened at $349.86 on Wednesday. Everest Group, Ltd. has a 12-month low of $320.00 and a 12-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 stock has a market capitalization of $14.67 billion, a price-to-earnings ratio of 18.57, a PEG ratio of 0.26 and a beta of 0.51. The business’s 50 day moving average is $338.20 and its two-hundred day moving average is $342.74.

Everest Group (NYSE:EG) last issued its earnings results on Wednesday, July 30th. The company reported $17.36 earnings per share (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 during the quarter, compared to analysts’ expectations of $4.22 billion. During the same period last year, the company posted $16.85 earnings per share. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. Research analysts expect that Everest Group, Ltd. will post 47.93 EPS for the current year.

Everest Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Wednesday, September 3rd were issued 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 yield of 2.3%. Everest Group’s dividend payout ratio (DPR) is 42.46%.

Analyst Ratings Changes

A number of equities analysts recently commented on EG shares. Barclays boosted their target price on shares of Everest Group from $394.00 to $398.00 and gave the stock an “overweight” rating in a research note on Monday, July 7th. Cantor Fitzgerald upgraded shares of Everest Group to a “hold” rating in a research note on Wednesday, August 13th. Keefe, Bruyette & Woods upped their price objective 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. Wolfe Research upgraded shares of Everest Group to a “strong sell” rating in a research note on Tuesday, September 16th. Finally, Janney Montgomery Scott started coverage on shares of Everest Group in a research note on Friday, June 20th. They issued a “buy” rating and a $425.00 price objective for the company. Six investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $387.47.

Everest Group Company Profile

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.