Deprince Race & Zollo Inc. Lowers Stake in Everest Group, Ltd. (NYSE:EG)

Deprince Race & Zollo Inc. reduced its position in Everest Group, Ltd. (NYSE:EG) by 1.2% in the second quarter, HoldingsChannel.com reports. The firm owned 50,440 shares of the company’s stock after selling 591 shares during the period. Deprince Race & Zollo Inc.’s holdings in Everest Group were worth $19,219,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EG. Tower Research Capital LLC TRC bought a new position in Everest Group during the fourth quarter valued at $2,372,000. Perpetual Ltd increased its stake in Everest Group by 92.0% during the first quarter. Perpetual Ltd now owns 4,724 shares of the company’s stock worth $1,878,000 after acquiring an additional 2,264 shares during the last quarter. Diversified Trust Co purchased a new stake in Everest Group during the first quarter valued at approximately $1,621,000. Gilman Hill Asset Management LLC purchased a new stake in Everest Group during the first quarter valued at approximately $2,600,000. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of Everest Group by 163.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 4,772 shares of the company’s stock valued at $1,897,000 after purchasing an additional 2,964 shares during the last quarter. 92.64% of the stock is owned by hedge funds and other institutional investors.

Everest Group Price Performance

Shares of EG opened at $387.78 on Friday. The stock has a market capitalization of $16.70 billion, a PE ratio of 5.76, a PEG ratio of 2.69 and a beta of 0.62. The company has a 50 day moving average price of $380.74 and a 200-day moving average price of $380.37. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.38 and a current ratio of 0.38. Everest Group, Ltd. has a fifty-two week low of $343.76 and a fifty-two week 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. Equities analysts predict that Everest Group, Ltd. will post 61.66 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Monday, September 16th will be given a dividend of $2.00 per share. The ex-dividend date is Monday, September 16th. This represents a $8.00 dividend on an annualized basis and a yield of 2.06%. Everest Group’s payout ratio is 11.89%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on EG shares. Barclays began coverage on Everest Group in a research report on Wednesday, September 4th. They set an “overweight” rating and a $527.00 target price on the stock. Wells Fargo & Company increased their price objective on shares of Everest Group from $392.00 to $393.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Keefe, Bruyette & Woods lowered their target price on shares of Everest Group from $454.00 to $438.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Bank of America lifted their price objective on shares of Everest Group from $470.00 to $493.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Finally, BMO Capital Markets restated a “market perform” rating and issued a $403.00 target price on shares of Everest Group in a research note on Friday, August 30th. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $438.09.

Everest Group Company 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.