Lecap Asset Management Ltd. Sells 3,047 Shares of Everest Group, Ltd. $EG

Lecap Asset Management Ltd. lessened its stake in Everest Group, Ltd. (NYSE:EG) by 45.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,728 shares of the company’s stock after selling 3,047 shares during the quarter. Lecap Asset Management Ltd.’s holdings in Everest Group were worth $1,267,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. SVB Wealth LLC bought a new stake in shares of Everest Group in the 1st quarter worth approximately $30,000. Tsfg LLC bought a new stake in shares of Everest Group in the 1st quarter worth approximately $33,000. Zions Bancorporation National Association UT bought a new stake in shares of Everest Group in the 1st quarter worth approximately $34,000. WPG Advisers LLC bought a new stake in shares of Everest Group in the 1st quarter worth approximately $37,000. Finally, Bruce G. Allen Investments LLC raised its holdings in shares of Everest Group by 79.1% in the 1st quarter. Bruce G. Allen Investments LLC now owns 154 shares of the company’s stock worth $56,000 after purchasing an additional 68 shares during the period. Institutional investors own 92.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on EG. Keefe, Bruyette & Woods lifted 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. Barclays lifted their price objective on shares of Everest Group from $394.00 to $398.00 and gave the company an “overweight” rating in a research note on Monday, July 7th. Wells Fargo & Company reiterated a “mixed” rating on shares of Everest Group in a research note on Monday, August 4th. Cantor Fitzgerald upgraded shares of Everest Group to a “hold” rating in a research note on Wednesday, August 13th. Finally, UBS Group reduced their price objective on shares of Everest Group from $372.00 to $370.00 and set a “neutral” rating for the company in a research note on Wednesday, July 9th. Six equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $386.67.

Everest Group Stock Up 0.9%

EG opened at $353.47 on Thursday. The company has a fifty day moving average price of $338.56 and a 200-day moving average price of $342.81. The firm has a market capitalization of $14.82 billion, a P/E ratio of 18.76, a price-to-earnings-growth ratio of 0.26 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, Ltd. has a one year low of $320.00 and a one year high of $407.30.

Everest Group (NYSE:EG) last released its quarterly earnings results on Wednesday, July 30th. The company reported $17.36 EPS for the quarter, beating analysts’ consensus estimates of $15.14 by $2.22. The firm had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.22 billion. Everest Group had a net margin of 4.56% and a return on equity of 5.89%. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the previous year, the business earned $16.85 EPS. Equities research analysts expect that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Wednesday, September 3rd were given a $2.00 dividend. The ex-dividend date was Wednesday, September 3rd. This represents a $8.00 annualized dividend and a yield of 2.3%. Everest Group’s payout ratio is 42.46%.

Everest Group 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.