American Trust Lowers Holdings in Everest Group, Ltd. (NYSE:EG)

American Trust reduced its stake in shares of Everest Group, Ltd. (NYSE:EG) by 44.4% in the 2nd quarter, Holdings Channel reports. The fund owned 720 shares of the company’s stock after selling 575 shares during the period. American Trust’s holdings in Everest Group were worth $274,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of EG. Sanctuary Advisors LLC purchased a new position in Everest Group in the second quarter valued at $466,000. New Wave Wealth Advisors LLC acquired a new stake in shares of Everest Group during the 2nd quarter valued at about $495,000. Delphi Management Inc. MA raised its holdings in Everest Group by 1.3% in the 2nd quarter. Delphi Management Inc. MA now owns 4,773 shares of the company’s stock worth $1,819,000 after purchasing an additional 60 shares during the period. Cetera Investment Advisers raised its holdings in Everest Group by 9.0% in the 2nd quarter. Cetera Investment Advisers now owns 5,316 shares of the company’s stock worth $2,026,000 after purchasing an additional 437 shares during the period. Finally, B. Riley Wealth Advisors Inc. purchased a new position in Everest Group during the second quarter worth approximately $921,000. 92.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Bank of America boosted their price objective on Everest Group from $470.00 to $493.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. TD Cowen cut their price target 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. Morgan Stanley decreased their price objective on shares of Everest Group from $450.00 to $445.00 and set an “overweight” rating on the stock in a report on Wednesday, July 10th. Wells Fargo & Company lifted their target price on shares of Everest Group from $392.00 to $393.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Everest Group from $454.00 to $438.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $438.09.

Everest Group Stock Up 0.0 %

Shares of NYSE EG opened at $396.40 on Thursday. The stock has a market cap of $17.23 billion, a PE ratio of 5.89, a P/E/G ratio of 2.75 and a beta of 0.61. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.24. Everest Group, Ltd. has a 12-month low of $343.76 and a 12-month high of $417.92. The company has a 50-day moving average of $381.22 and a 200 day moving average of $380.46.

Everest Group (NYSE:EG) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $16.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $4.32 billion. During the same quarter last year, the company earned $15.21 earnings per share. Everest Group’s revenue for the quarter was up 15.8% on a year-over-year basis. As a group, sell-side analysts predict that Everest Group, Ltd. will post 61.66 EPS for the current fiscal year.

Everest Group Dividend Announcement

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

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.