One Way Holdings LLC bought a new position in shares of Everest Group, Ltd. (NYSE:EG – Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 21,174 shares of the company’s stock, valued at approximately $7,732,000.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. BlackRock Inc. acquired a new position in shares of Everest Group in the second quarter worth about $1,150,555,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in Everest Group in the second quarter valued at about $350,718,000. William Blair Investment Management LLC acquired a new stake in Everest Group during the 2nd quarter valued at approximately $171,426,000. Donald Smith & CO. Inc. acquired a new stake in Everest Group during the 2nd quarter valued at approximately $153,206,000. Finally, Hsbc Holdings PLC grew its stake in Everest Group by 507.4% during the 1st quarter. Hsbc Holdings PLC now owns 449,919 shares of the company’s stock valued at $147,102,000 after purchasing an additional 375,846 shares in the last quarter. 92.64% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
EG has been the topic of several analyst reports. Weiss Ratings upgraded Everest Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 21st. UBS Group increased their target price on Everest Group from $374.00 to $395.00 and gave the company a “neutral” rating in a research note on Monday, August 3rd. TD Cowen raised their price target on shares of Everest Group from $365.00 to $385.00 and gave the stock a “hold” rating in a research report on Wednesday, August 19th. Morgan Stanley lifted their price target on shares of Everest Group from $375.00 to $395.00 and gave the stock an “equal weight” rating in a research note on Friday. Finally, Cantor Fitzgerald lifted their price target on shares of Everest Group from $390.00 to $419.00 and gave the stock a “neutral” rating in a research note on Monday. Six equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $413.19.
Check Out Our Latest Research Report on EG
Everest Group Stock Performance
Shares of NYSE EG opened at $411.58 on Monday. Everest Group, Ltd. has a 12-month low of $304.55 and a 12-month high of $413.00. The company has a market cap of $15.78 billion, a PE ratio of 8.70, a P/E/G ratio of 0.57 and a beta of 0.23. The stock has a 50 day simple moving average of $378.52 and a 200-day simple moving average of $353.16. The company has a current ratio of 0.36, a quick ratio of 0.35 and a debt-to-equity ratio of 0.25.
Everest Group (NYSE:EG – Get Free Report) last issued its quarterly earnings results on Wednesday, October 28th. The company reported $7.62 EPS for the quarter, missing the consensus estimate of $9.38 by ($1.76). Everest Group had a return on equity of 13.71% and a net margin of 11.70%. The business had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $3.81 billion. During the same quarter last year, the firm posted $7.54 earnings per share. Everest Group’s revenue was down 14.0% compared to the same quarter last year. On average, equities research analysts forecast that Everest Group, Ltd. will post 53.32 EPS for the current year.
Everest Group Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Wednesday, September 9th were issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Wednesday, September 9th. Everest Group’s payout ratio is presently 16.91%.
Everest Group Profile
Everest Group, Ltd. is a global insurance and reinsurance company that provides property and casualty coverage to businesses, institutions, and other insurers. Its operations focus on assuming and managing risks through reinsurance, as well as offering insurance products in selected specialty and commercial markets.
The company’s reinsurance business supports insurers across lines such as property, casualty, specialty, and other risks. Through its insurance platform, Everest provides coverage for commercial customers and specialty exposures, including property, casualty, professional liability, and other products that may vary by market.
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