Y Intercept Hong Kong Ltd Has $1.02 Million Holdings in Everest Group, Ltd. $EG

Y Intercept Hong Kong Ltd boosted its stake in Everest Group, Ltd. (NYSE:EG) by 67.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,007 shares of the company’s stock after purchasing an additional 1,206 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Everest Group were worth $1,022,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of EG. Vontobel Holding Ltd. raised its stake in Everest Group by 2.1% in the first quarter. Vontobel Holding Ltd. now owns 1,781 shares of the company’s stock valued at $647,000 after purchasing an additional 36 shares in the last quarter. Teacher Retirement System of Texas acquired a new position in Everest Group in the first quarter valued at about $2,284,000. Principal Financial Group Inc. raised its stake in 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 purchasing an additional 4,021 shares in the last quarter. D.A. Davidson & CO. raised its stake in Everest Group by 31.4% in the first quarter. D.A. Davidson & CO. now owns 2,652 shares of the company’s stock valued at $964,000 after purchasing an additional 634 shares in the last quarter. Finally, IFM Investors Pty Ltd raised its stake in Everest Group by 2.5% in the first quarter. IFM Investors Pty Ltd now owns 11,208 shares of the company’s stock valued at $4,392,000 after purchasing an additional 273 shares in the last quarter. Institutional investors and hedge funds own 92.64% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on EG. Barclays dropped their price target on Everest Group from $425.00 to $365.00 and set an “overweight” rating for the company in a research note on Friday. UBS Group decreased their target price on Everest Group from $372.00 to $370.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 9th. Keefe, Bruyette & Woods lowered their target price on Everest Group from $424.00 to $400.00 and set an “outperform” rating for the company in a research note on Thursday, October 30th. Wall Street Zen cut shares of Everest Group from a “buy” rating to a “hold” rating in a report on Sunday. Finally, Cowen reissued a “hold” rating on shares of Everest Group in a report on Tuesday, October 7th. Five investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $372.36.

Everest Group Stock Performance

NYSE:EG opened at $313.44 on Tuesday. The stock has a market cap of $13.15 billion, a P/E ratio of 23.87, a price-to-earnings-growth ratio of 0.25 and a beta of 0.48. 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’s 50-day moving average is $342.50 and its 200-day moving average is $340.93. Everest Group, Ltd. has a 1-year low of $302.44 and a 1-year high of $392.78.

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

Everest Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Wednesday, September 3rd were issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Wednesday, September 3rd. Everest Group’s payout ratio is 60.93%.

Insider Activity

In other news, Director Allan Levine purchased 3,100 shares of Everest Group stock in a transaction dated Wednesday, October 29th. The shares were bought at an average cost of $306.08 per share, for a total transaction of $948,848.00. Following the completion of the acquisition, the director owned 4,153 shares in the company, valued at approximately $1,271,150.24. This trade represents a 294.40% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William F. Galtney, Jr. purchased 11,385 shares of Everest Group stock in a transaction dated Wednesday, October 29th. The shares were purchased at an average price of $307.38 per share, for a total transaction of $3,499,521.30. Following the completion of the acquisition, the director owned 45,491 shares of the company’s stock, valued at approximately $13,983,023.58. The trade was a 33.38% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 1.10% of the company’s stock.

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.