Everest Group, Ltd. (NYSE:EG) Shares Sold by Lighthouse Investment Partners LLC

Lighthouse Investment Partners LLC reduced its holdings in shares of Everest Group, Ltd. (NYSE:EG) by 34.1% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 6,651 shares of the company’s stock after selling 3,437 shares during the period. Lighthouse Investment Partners LLC’s holdings in Everest Group were worth $2,534,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Vanguard Group Inc. purchased a new stake in Everest Group during the 4th quarter worth $1,886,055,000. Wellington Management Group LLP acquired a new stake in shares of Everest Group in the fourth quarter valued at about $751,457,000. Bain Capital Public Equity Management II LLC purchased a new stake in shares of Everest Group during the 4th quarter valued at about $148,569,000. Northern Trust Corp acquired a new position in Everest Group during the 4th quarter worth approximately $148,092,000. Finally, Boston Partners boosted its holdings in Everest Group by 29.1% in the 1st quarter. Boston Partners now owns 1,197,457 shares of the company’s stock worth $475,750,000 after acquiring an additional 269,665 shares during the period. Institutional investors and hedge funds own 92.64% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on EG. Keefe, Bruyette & Woods reduced their target price on shares of Everest Group from $454.00 to $438.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Wells Fargo & Company boosted their price objective on shares of Everest Group from $392.00 to $393.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. BMO Capital Markets restated a “market perform” rating and issued a $403.00 price target on shares of Everest Group in a research note on Friday, August 30th. TD Cowen reduced their price objective on shares of Everest Group from $419.00 to $405.00 and set a “hold” rating on the stock in a research note on Tuesday, August 13th. Finally, Barclays started coverage on shares of Everest Group in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $527.00 target price on the stock. Four investment 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 stock. According to MarketBeat, Everest Group has a consensus rating of “Moderate Buy” and an average price target of $438.09.

Everest Group Stock Up 2.0 %

Shares of Everest Group stock opened at $395.15 on Friday. The company has a market capitalization of $17.02 billion, a P/E ratio of 5.87, a PEG ratio of 2.67 and a beta of 0.62. The business’s fifty day moving average price is $380.93 and its two-hundred day moving average price is $380.47. Everest Group, Ltd. has a 1-year low of $343.76 and a 1-year high of $417.92. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.38 and a quick ratio of 0.38.

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

Everest Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Monday, September 16th were given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 2.02%. The ex-dividend date was Monday, September 16th. Everest Group’s dividend payout ratio (DPR) is presently 11.89%.

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.