Eastern Bank Makes New Investment in Everest Group, Ltd. (NYSE:EG)

Eastern Bank acquired a new position in Everest Group, Ltd. (NYSE:EG) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 90 shares of the company’s stock, valued at approximately $35,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Boston Partners boosted its stake in Everest Group by 29.1% in the first quarter. Boston Partners now owns 1,197,457 shares of the company’s stock valued at $475,750,000 after acquiring an additional 269,665 shares during the last quarter. William Blair Investment Management LLC boosted its stake in Everest Group by 30.2% in the second quarter. William Blair Investment Management LLC now owns 580,171 shares of the company’s stock valued at $221,057,000 after acquiring an additional 134,517 shares during the last quarter. Arnhold LLC purchased a new position in Everest Group in the first quarter valued at about $19,896,000. Champlain Investment Partners LLC boosted its stake in Everest Group by 5.3% in the first quarter. Champlain Investment Partners LLC now owns 906,100 shares of the company’s stock valued at $360,175,000 after acquiring an additional 45,705 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Everest Group by 7.7% in the second quarter. Dimensional Fund Advisors LP now owns 535,121 shares of the company’s stock valued at $203,891,000 after acquiring an additional 38,254 shares during the last quarter. 92.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on EG shares. Bank of America dropped their price target on shares of Everest Group from $496.00 to $485.00 and set a “buy” rating on the stock in a research note on Thursday, October 10th. UBS Group upgraded shares of Everest Group to a “hold” rating in a research note on Wednesday, October 9th. Keefe, Bruyette & Woods dropped their price target on shares of Everest Group from $454.00 to $438.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Jefferies Financial Group increased their target price on shares of Everest Group from $440.00 to $457.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, Barclays assumed 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. Five research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $439.27.

Everest Group Price Performance

EG stock opened at $379.61 on Friday. 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 52 week low of $343.76 and a 52 week high of $417.92. The firm’s fifty day moving average is $387.31 and its 200 day moving average is $380.54. The firm has a market cap of $16.50 billion, a P/E ratio of 5.64, a P/E/G ratio of 2.71 and a beta of 0.61.

Everest Group (NYSE:EG) last released its 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 business had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.32 billion. During the same period in the prior year, the business posted $15.21 EPS. Everest Group’s revenue for the quarter was up 15.8% on a year-over-year basis. Research analysts predict that Everest Group, Ltd. will post 60.97 earnings per share for the current year.

Everest Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Monday, September 16th were given a dividend of $2.00 per share. The ex-dividend date was Monday, September 16th. This represents a $8.00 annualized dividend and a yield of 2.11%. Everest Group’s payout ratio is currently 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.