Lake Street Private Wealth LLC Takes Position in Everest Group, Ltd. (NYSE:EG)

Lake Street Private Wealth LLC acquired a new position in Everest Group, Ltd. (NYSE:EG) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 3,726 shares of the company’s stock, valued at approximately $1,481,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Allworth Financial LP purchased a new stake in shares of Everest Group during the fourth quarter valued at $25,000. Avior Wealth Management LLC purchased a new stake in Everest Group during the 4th quarter valued at about $25,000. Headlands Technologies LLC acquired a new position in shares of Everest Group in the fourth quarter valued at about $25,000. Janiczek Wealth Management LLC purchased a new position in shares of Everest Group in the fourth quarter worth about $27,000. Finally, Trifecta Capital Advisors LLC purchased a new position in shares of Everest Group in the fourth quarter worth about $28,000. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

EG has been the subject of a number of recent research reports. Morgan Stanley reduced their price target on shares of Everest Group from $466.00 to $450.00 and set an “overweight” rating for the company in a research report on Monday, April 15th. Keefe, Bruyette & Woods raised their target price on shares of Everest Group from $445.00 to $457.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Finally, Wells Fargo & Company lowered their target price on Everest Group from $402.00 to $397.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 11th. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Everest Group presently has an average rating of “Moderate Buy” and an average price target of $432.11.

Everest Group Stock Down 1.3 %

Shares of EG opened at $364.77 on Thursday. The firm has a market cap of $15.85 billion, a P/E ratio of 5.42, a PEG ratio of 3.24 and a beta of 0.63. Everest Group, Ltd. has a 12 month low of $333.65 and a 12 month high of $417.92. The stock’s 50 day moving average is $379.89 and its two-hundred day moving average is $374.95. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.25.

Everest Group (NYSE:EG) last released its quarterly earnings results on Monday, April 29th. The company reported $16.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $15.98 by $0.34. The firm had revenue of $4.13 billion for the quarter, compared to analysts’ expectations of $4.05 billion. Everest Group had a net margin of 18.69% and a return on equity of 24.86%. The firm’s revenue for the quarter was up 25.8% compared to the same quarter last year. During the same quarter last year, the company earned $11.31 EPS. Analysts predict that Everest Group, Ltd. will post 61.65 earnings per share for the current fiscal year.

Everest Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Wednesday, May 29th were paid a $2.00 dividend. This is an increase from Everest Group’s previous quarterly dividend of $1.75. This represents a $8.00 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend was Wednesday, May 29th. Everest Group’s dividend payout ratio is currently 11.89%.

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.