Brighton Jones LLC Buys Shares of 2,573 Everest Group, Ltd. $EG

Brighton Jones LLC bought a new stake in shares of Everest Group, Ltd. (NYSE:EG) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 2,573 shares of the company’s stock, valued at approximately $875,000.

Several other large investors have also recently bought and sold shares of EG. Mirae Asset Global Investments Co. Ltd. increased its stake in Everest Group by 16.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,671 shares of the company’s stock valued at $1,691,000 after buying an additional 658 shares during the period. Amalgamated Bank increased its stake in Everest Group by 1.1% during the 1st quarter. Amalgamated Bank now owns 8,488 shares of the company’s stock valued at $3,084,000 after buying an additional 95 shares during the period. Vontobel Holding Ltd. increased its stake in Everest Group by 2.1% during the 1st quarter. Vontobel Holding Ltd. now owns 1,781 shares of the company’s stock valued at $647,000 after buying an additional 36 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Everest Group by 1.4% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,669 shares of the company’s stock valued at $1,696,000 after buying an additional 64 shares during the period. Finally, DAVENPORT & Co LLC grew its stake in shares of Everest Group by 17.1% in the 1st quarter. DAVENPORT & Co LLC now owns 22,874 shares of the company’s stock worth $8,311,000 after purchasing an additional 3,344 shares during the last quarter. Institutional investors and hedge funds own 92.64% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on EG. UBS Group lowered their price objective on shares of Everest Group from $372.00 to $370.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Everest Group in a research note on Wednesday, October 8th. Cantor Fitzgerald raised shares of Everest Group to a “hold” rating in a research note on Wednesday, August 13th. Wall Street Zen raised shares of Everest Group from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Barclays dropped their target price on shares of Everest Group from $430.00 to $425.00 and set an “overweight” rating on the stock in a research report on Tuesday. Five analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Everest Group currently has an average rating of “Hold” and an average price target of $382.43.

Everest Group Stock Performance

Shares of EG opened at $305.05 on Wednesday. The company’s 50 day moving average price is $345.08 and its 200 day moving average price is $342.07. Everest Group, Ltd. has a 52 week low of $302.44 and a 52 week high of $392.78. The company has a market capitalization of $12.79 billion, a PE ratio of 23.23, a PEG ratio of 0.23 and a beta of 0.48. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.38 and a current ratio of 0.38.

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

Everest Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Wednesday, September 3rd were given a dividend of $2.00 per share. The ex-dividend date of this dividend was Wednesday, September 3rd. This represents a $8.00 dividend on an annualized basis and a yield of 2.6%. Everest Group’s payout ratio is presently 60.93%.

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.