Bank of Montreal Can Buys 11,563 Shares of Everest Group, Ltd. (NYSE:EG)

Bank of Montreal Can grew its stake in Everest Group, Ltd. (NYSE:EG) by 9.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 140,574 shares of the company’s stock after purchasing an additional 11,563 shares during the period. Bank of Montreal Can’s holdings in Everest Group were worth $53,757,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. American National Bank bought a new position in Everest Group during the 2nd quarter valued at about $27,000. FinTrust Capital Advisors LLC purchased a new position in shares of Everest Group during the fourth quarter valued at approximately $33,000. Massmutual Trust Co. FSB ADV bought a new position in shares of Everest Group during the first quarter valued at approximately $33,000. Hollencrest Capital Management raised its holdings in shares of Everest Group by 575.0% in the first quarter. Hollencrest Capital Management now owns 135 shares of the company’s stock worth $54,000 after buying an additional 115 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Everest Group in the first quarter worth approximately $61,000. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Everest Group Stock Down 0.1 %

Everest Group stock opened at $382.85 on Thursday. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.24. The firm has a market cap of $16.49 billion, a P/E ratio of 5.69, a P/E/G ratio of 2.69 and a beta of 0.62. The business has a fifty day moving average of $380.98 and a two-hundred day moving average of $380.31. Everest Group, Ltd. has a twelve month low of $343.76 and a twelve month high of $417.92.

Everest Group (NYSE:EG) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $16.85 earnings per share for the quarter, missing analysts’ consensus estimates of $16.97 by ($0.12). The company had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.32 billion. Everest Group had a return on equity of 24.09% and a net margin of 18.36%. The company’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same quarter last year, the company earned $15.21 earnings per share. On average, analysts forecast that Everest Group, Ltd. will post 61.66 earnings per share for the current fiscal year.

Everest Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Monday, September 16th will be given a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date is Monday, September 16th. Everest Group’s payout ratio is currently 11.89%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on EG shares. Keefe, Bruyette & Woods dropped their price objective on Everest Group from $454.00 to $438.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Barclays initiated coverage on shares of Everest Group in a report on Wednesday, September 4th. They issued an “overweight” rating and a $527.00 price target on the stock. TD Cowen decreased their price objective on shares of Everest Group from $419.00 to $405.00 and set a “hold” rating for the company in a report on Tuesday, August 13th. BMO Capital Markets reissued a “market perform” rating and issued a $403.00 price objective on shares of Everest Group in a research report on Friday, August 30th. Finally, Morgan Stanley reduced their target price on shares of Everest Group from $450.00 to $445.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 10th. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $438.09.

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.