Board of the Pension Protection Fund Purchases Shares of 100 Everest Group, Ltd. $EG

Board of the Pension Protection Fund purchased a new stake in shares of Everest Group, Ltd. (NYSE:EG) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 100 shares of the company’s stock, valued at approximately $34,000.

Several other hedge funds and other institutional investors have also made changes to their positions in EG. Farther Finance Advisors LLC lifted its holdings in shares of Everest Group by 305.2% during the 1st quarter. Farther Finance Advisors LLC now owns 782 shares of the company’s stock valued at $286,000 after acquiring an additional 589 shares in the last quarter. Simplicity Wealth LLC acquired a new position in shares of Everest Group during the first quarter worth about $226,000. SG Americas Securities LLC lifted its stake in shares of Everest Group by 127.3% during the first quarter. SG Americas Securities LLC now owns 5,842 shares of the company’s stock worth $2,123,000 after purchasing an additional 3,272 shares in the last quarter. Handelsbanken Fonder AB lifted its stake in shares of Everest Group by 0.8% during the first quarter. Handelsbanken Fonder AB now owns 6,416 shares of the company’s stock worth $2,331,000 after purchasing an additional 48 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in Everest Group by 6.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,220 shares of the company’s stock worth $443,000 after acquiring an additional 70 shares in the last quarter. Institutional investors and hedge funds own 92.64% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on EG. Evercore ISI boosted their price target on Everest Group from $380.00 to $384.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 1st. Cantor Fitzgerald raised shares of Everest Group to a “hold” rating in a research report on Wednesday, August 13th. Wolfe Research raised shares of Everest Group to a “strong sell” rating in a research report on Tuesday, September 16th. UBS Group cut their price objective on shares of Everest Group from $372.00 to $370.00 and set a “neutral” rating on the stock in a report on Wednesday, July 9th. Finally, Janney Montgomery Scott assumed coverage on shares of Everest Group in a report on Friday, June 20th. They issued a “buy” rating and a $425.00 price objective on the stock. Five research 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. Based on data from MarketBeat.com, Everest Group has a consensus rating of “Hold” and a consensus target price of $382.79.

Everest Group Trading Down 1.4%

EG opened at $346.99 on Friday. The stock has a market capitalization of $14.55 billion, a PE ratio of 18.42, a P/E/G ratio of 0.25 and a beta of 0.48. The firm’s fifty day moving average price is $341.74 and its 200 day moving average price is $342.52. 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 12-month low of $320.00 and a 12-month high of $401.82.

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

Everest Group Dividend Announcement

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 dividend of $2.00 per share. The ex-dividend date was Wednesday, September 3rd. This represents a $8.00 annualized dividend and a yield of 2.3%. Everest Group’s dividend payout ratio is presently 42.46%.

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.