First Trust Direct Indexing L.P. Raises Holdings in Everest Group, Ltd. (NYSE:EG)

First Trust Direct Indexing L.P. increased its position in Everest Group, Ltd. (NYSE:EG) by 0.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 2,976 shares of the company’s stock after acquiring an additional 28 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Everest Group were worth $1,183,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in EG. Wealthstar Advisors LLC raised its stake in shares of Everest Group by 9.9% during the 1st quarter. Wealthstar Advisors LLC now owns 913 shares of the company’s stock valued at $363,000 after purchasing an additional 82 shares during the period. Norden Group LLC purchased a new stake in Everest Group during the first quarter valued at about $222,000. Lake Street Private Wealth LLC bought a new stake in Everest Group in the 1st quarter worth approximately $1,481,000. E&G Advisors LP boosted its stake in shares of Everest Group by 24.5% in the 1st quarter. E&G Advisors LP now owns 1,345 shares of the company’s stock valued at $533,000 after purchasing an additional 265 shares in the last quarter. Finally, Graphene Investments SAS raised its position in Everest Group by 22.4% in the 1st quarter. Graphene Investments SAS now owns 9,300 shares of the company’s stock worth $3,697,000 after purchasing an additional 1,700 shares during the period. 92.64% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on EG shares. Morgan Stanley dropped their target price on Everest Group from $466.00 to $450.00 and set an “overweight” rating for the company in a report on Monday, April 15th. Wells Fargo & Company cut their target price on shares of Everest Group from $402.00 to $397.00 and set an “equal weight” rating on the stock in a report on Thursday, April 11th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Everest Group from $445.00 to $457.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Everest Group has an average rating of “Moderate Buy” and an average target price of $432.11.

Everest Group Trading Down 1.3 %

NYSE EG opened at $364.77 on Friday. The stock’s 50 day moving average is $379.87 and its 200 day moving average is $374.88. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $15.85 billion, a PE ratio of 5.42, a P/E/G ratio of 3.20 and a beta of 0.63. Everest Group, Ltd. has a twelve month low of $333.65 and a twelve month high of $417.92.

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

Everest Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Wednesday, May 29th were paid a dividend of $2.00 per share. The ex-dividend date was Wednesday, May 29th. This represents a $8.00 annualized dividend and a yield of 2.19%. This is a boost from Everest Group’s previous quarterly dividend of $1.75. 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.