Forum Financial Management LP Grows Position in Everest Group, Ltd. $EG

Forum Financial Management LP raised its position in shares of Everest Group, Ltd. (NYSE:EG) by 46.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,381 shares of the company’s stock after buying an additional 437 shares during the quarter. Forum Financial Management LP’s holdings in Everest Group were worth $469,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. SVB Wealth LLC purchased a new position in shares of Everest Group in the 1st quarter worth approximately $30,000. Tsfg LLC purchased a new position in shares of Everest Group in the 1st quarter worth approximately $33,000. Zions Bancorporation National Association UT purchased a new position in shares of Everest Group in the 1st quarter worth approximately $34,000. Board of the Pension Protection Fund purchased a new position in shares of Everest Group in the 2nd quarter worth approximately $34,000. Finally, WPG Advisers LLC purchased a new position in shares of Everest Group in the 1st quarter worth approximately $37,000. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Wall Street Zen upgraded Everest Group from a “hold” rating to a “buy” rating in a report on Saturday. Cowen restated a “hold” rating on shares of Everest Group in a report on Tuesday, October 7th. Weiss Ratings restated a “hold (c)” rating on shares of Everest Group in a report on Wednesday, October 8th. Citigroup assumed coverage on Everest Group in a report on Wednesday, August 13th. They set a “neutral” rating and a $362.00 price objective for the company. Finally, Wolfe Research upgraded Everest Group to a “strong sell” rating in a report on Tuesday, September 16th. Five equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $382.79.

Everest Group Trading Down 0.0%

Shares of NYSE EG opened at $349.12 on Friday. The firm has a market cap of $14.64 billion, a PE ratio of 18.53, a price-to-earnings-growth ratio of 0.24 and a beta of 0.48. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.24. Everest Group, Ltd. has a twelve month low of $320.00 and a twelve month high of $392.78. The business has a fifty day simple moving average of $345.50 and a two-hundred day simple moving average of $342.32.

Everest Group (NYSE:EG) last released its quarterly earnings results on Wednesday, July 30th. The company reported $17.36 EPS for the quarter, topping the consensus estimate 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 return on equity of 5.89% and a net margin of 4.56%.The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the previous year, the company posted $16.85 EPS. Analysts expect that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Announces Dividend

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

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.