Asset Management One Co. Ltd. Sells 433 Shares of Everest Group, Ltd. $EG

Asset Management One Co. Ltd. cut its position in Everest Group, Ltd. (NYSE:EG) by 2.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,954 shares of the company’s stock after selling 433 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Everest Group were worth $6,102,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Truist Financial Corp raised its position in Everest Group by 16.9% in the first 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. Envestnet Asset Management Inc. raised its position in Everest Group by 12.2% in the first 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. DAVENPORT & Co LLC raised its position in Everest Group by 17.1% in the first quarter. DAVENPORT & Co LLC now owns 22,874 shares of the company’s stock valued at $8,311,000 after purchasing an additional 3,344 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Everest Group by 7.9% in the first quarter. Principal Financial Group Inc. now owns 55,123 shares of the company’s stock valued at $20,028,000 after buying an additional 4,021 shares during the period. Finally, World Investment Advisors increased its stake in shares of Everest Group by 72.0% in the first quarter. World Investment Advisors now owns 1,827 shares of the company’s stock valued at $664,000 after buying an additional 765 shares during the period. 92.64% of the stock is currently owned by institutional investors.

Everest Group Trading Down 11.3%

NYSE EG opened at $305.05 on Wednesday. The business has a 50 day simple moving average of $345.08 and a 200 day simple moving average of $342.07. Everest Group, Ltd. has a one year low of $302.44 and a one year high of $392.78. The stock has a market capitalization of $12.79 billion, a P/E ratio of 23.23, a P/E/G ratio of 0.23 and a beta of 0.48. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.38 and a quick ratio of 0.38.

Everest Group (NYSE:EG) last released its earnings results on Monday, October 27th. The company reported $7.54 EPS for the quarter, missing the consensus estimate of $13.39 by ($5.85). Everest Group had a return on equity of 3.81% and a net margin of 3.12%.The business had revenue of $4.32 billion for the quarter, compared to analyst estimates of $3.86 billion. During the same period in the prior year, the business earned $11.80 EPS. The company’s revenue for the quarter was up .8% on a year-over-year basis. Research analysts expect that Everest Group, Ltd. will post 47.93 earnings per share for the current year.

Everest Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Wednesday, September 3rd were paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Wednesday, September 3rd. Everest Group’s dividend payout ratio (DPR) is 60.93%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Wolfe Research raised Everest Group to a “strong sell” rating in a research note on Tuesday, September 16th. Cowen reissued a “hold” rating on shares of Everest Group in a research note on Tuesday, October 7th. Raymond James Financial set a $375.00 price target on Everest Group and gave the company an “outperform” rating in a research note on Monday, September 22nd. UBS Group decreased their price target on Everest Group from $372.00 to $370.00 and set a “neutral” rating for the company in a research note on Wednesday, July 9th. Finally, Wells Fargo & Company increased their price target on Everest Group from $371.00 to $383.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Everest Group presently has a consensus rating of “Hold” and an average target price of $382.43.

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.