Everest Group, Ltd. (NYSE:EG) Holdings Increased by Abacus Planning Group Inc.

Abacus Planning Group Inc. increased its stake in Everest Group, Ltd. (NYSE:EG) by 21.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,011 shares of the company’s stock after acquiring an additional 179 shares during the period. Abacus Planning Group Inc.’s holdings in Everest Group were worth $396,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Tower Research Capital LLC TRC acquired a new stake in Everest Group during the fourth quarter valued at approximately $2,372,000. Perpetual Ltd boosted its stake in shares of Everest Group by 92.0% during the 1st quarter. Perpetual Ltd now owns 4,724 shares of the company’s stock worth $1,878,000 after acquiring an additional 2,264 shares in the last quarter. Diversified Trust Co acquired a new position in shares of Everest Group in the 1st quarter worth $1,621,000. Gilman Hill Asset Management LLC purchased a new stake in shares of Everest Group during the first quarter valued at $2,600,000. Finally, Wealth Enhancement Advisory Services LLC boosted its position 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 period. Institutional investors and hedge funds own 92.64% of the company’s stock.

Everest Group Stock Performance

Shares of EG opened at $396.40 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. Everest Group, Ltd. has a 12 month low of $343.76 and a 12 month high of $417.92. The company’s fifty day moving average is $381.22 and its 200-day moving average is $380.46. The firm has a market cap of $17.23 billion, a price-to-earnings ratio of 5.89, a price-to-earnings-growth ratio of 2.75 and a beta of 0.61.

Everest Group (NYSE:EG) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $16.85 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 for the quarter, compared to analyst estimates of $4.32 billion. During the same quarter last year, the business earned $15.21 EPS. The company’s revenue for the quarter was up 15.8% on a year-over-year basis. Equities analysts expect 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. Shareholders of record on Monday, September 16th were issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date was Monday, September 16th. Everest Group’s dividend payout ratio (DPR) is presently 11.89%.

Analyst Upgrades and Downgrades

EG has been the topic of several recent analyst reports. TD Cowen cut their price objective on Everest Group from $419.00 to $405.00 and set a “hold” rating on the stock in a report on Tuesday, August 13th. 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. Bank of America lifted their price objective on shares of Everest Group from $470.00 to $493.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Morgan Stanley reduced their target price on Everest Group from $450.00 to $445.00 and set an “overweight” rating for the company in a report on Wednesday, July 10th. Finally, Barclays started coverage on Everest Group in a report on Wednesday, September 4th. They set an “overweight” rating and a $527.00 price target on the stock. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Everest Group has an average rating of “Moderate Buy” and an average target price of $438.09.

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.