Legacy Wealth Asset Management LLC Invests $555,000 in Everest Group, Ltd. (NYSE:EG)

Legacy Wealth Asset Management LLC acquired a new stake in shares of Everest Group, Ltd. (NYSE:EG) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,397 shares of the company’s stock, valued at approximately $555,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. First Trust Direct Indexing L.P. raised its stake in shares of Everest Group by 0.9% during the 1st quarter. First Trust Direct Indexing L.P. now owns 2,976 shares of the company’s stock worth $1,183,000 after purchasing an additional 28 shares in the last quarter. Allworth Financial LP bought a new position in Everest Group during the fourth quarter valued at approximately $25,000. Avior Wealth Management LLC acquired a new stake in Everest Group in the fourth quarter valued at approximately $25,000. Headlands Technologies LLC acquired a new stake in Everest Group in the fourth quarter valued at approximately $25,000. Finally, Janiczek Wealth Management LLC bought a new stake in Everest Group in the fourth quarter worth approximately $27,000. 92.64% of the stock is owned by hedge funds and other institutional investors.

Everest Group Trading Down 1.3 %

Shares of NYSE:EG opened at $364.77 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.38 and a current ratio of 0.38. The stock’s 50-day moving average is $379.87 and its 200-day moving average is $374.88. The company has a market cap of $15.85 billion, a P/E ratio of 5.42, a P/E/G ratio of 3.20 and a beta of 0.63. Everest Group, Ltd. has a 52-week low of $333.65 and a 52-week high of $417.92.

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

Everest Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Wednesday, May 29th were paid a dividend of $2.00 per share. This is a boost 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 was Wednesday, May 29th. Everest Group’s dividend payout ratio is presently 11.89%.

Wall Street Analyst Weigh In

EG has been the topic of a number of recent research reports. Morgan Stanley cut their price target on shares of Everest Group from $466.00 to $450.00 and set an “overweight” rating on the stock in a report on Monday, April 15th. Keefe, Bruyette & Woods boosted their price target on Everest Group from $445.00 to $457.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Finally, Wells Fargo & Company decreased their price target on Everest Group from $402.00 to $397.00 and set an “equal weight” rating for the company 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 stock. According to MarketBeat, Everest Group has a consensus rating of “Moderate Buy” and an average target price of $432.11.

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.