DekaBank Deutsche Girozentrale Increases Stake in Everest Group, Ltd. $EG

DekaBank Deutsche Girozentrale grew its position in Everest Group, Ltd. (NYSE:EG) by 0.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,044 shares of the company’s stock after acquiring an additional 59 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Everest Group were worth $11,454,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in EG. SVB Wealth LLC purchased a new stake in shares of Everest Group in the first quarter valued at $30,000. Tsfg LLC purchased a new stake in shares of Everest Group in the first quarter valued at $33,000. Zions Bancorporation National Association UT bought a new position in shares of Everest Group in the first quarter worth about $34,000. Board of the Pension Protection Fund bought a new position in shares of Everest Group in the second quarter worth about $34,000. Finally, WPG Advisers LLC bought a new position in shares of Everest Group in the first quarter worth about $37,000. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Analyst Ratings Changes

EG has been the topic of a number of research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Everest Group in a report on Wednesday, October 8th. Raymond James Financial set a $375.00 price target on shares of Everest Group and gave the stock an “outperform” rating in a report on Monday, September 22nd. Wolfe Research upgraded shares of Everest Group to a “strong sell” rating in a report on Tuesday, September 16th. Evercore ISI upped their price target on shares of Everest Group from $380.00 to $384.00 and gave the stock an “in-line” rating in a report on Wednesday, October 1st. Finally, UBS Group cut their price target 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. Five investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $382.79.

Everest Group Stock Up 0.3%

Shares of Everest Group stock opened at $349.50 on Friday. 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 1 year low of $320.00 and a 1 year high of $392.78. The firm’s 50-day moving average is $345.16 and its two-hundred day moving average is $342.19. The stock has a market cap of $14.66 billion, a price-to-earnings ratio of 18.55, a PEG ratio of 0.24 and a beta of 0.48.

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, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $4.22 billion. During the same period in the prior year, the business earned $16.85 EPS. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. As a group, research analysts expect that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

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