IFM Investors Pty Ltd Purchases 38 Shares of Everest Group, Ltd. (NYSE:EG)

IFM Investors Pty Ltd boosted its position in Everest Group, Ltd. (NYSE:EG) by 0.3% during the third quarter, Holdings Channel.com reports. The fund owned 11,208 shares of the company’s stock after acquiring an additional 38 shares during the period. IFM Investors Pty Ltd’s holdings in Everest Group were worth $4,392,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. American National Bank purchased a new position in shares of Everest Group during the second quarter valued at approximately $27,000. M&R Capital Management Inc. purchased a new position in Everest Group during the 3rd quarter valued at $29,000. Bruce G. Allen Investments LLC increased its position in Everest Group by 200.0% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 78 shares of the company’s stock valued at $31,000 after purchasing an additional 52 shares during the period. Eastern Bank bought a new position in Everest Group in the 3rd quarter worth $35,000. Finally, Massmutual Trust Co. FSB ADV lifted its position in shares of Everest Group by 36.9% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 115 shares of the company’s stock worth $44,000 after purchasing an additional 31 shares during the period. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Everest Group Price Performance

EG opened at $379.61 on Friday. The firm has a market cap of $16.50 billion, a PE ratio of 5.64, a P/E/G ratio of 2.71 and a beta of 0.61. The stock has a 50-day moving average price of $387.31 and a 200-day moving average price of $380.54. 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 issued its earnings results 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 return on equity of 24.09% and a net margin of 18.36%. The firm had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.32 billion. During the same period last year, the firm posted $15.21 earnings per share. The firm’s quarterly revenue was up 15.8% on a year-over-year basis. Sell-side analysts predict that Everest Group, Ltd. will post 60.97 earnings per share for the current fiscal year.

Everest Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Monday, September 16th were given a $2.00 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $8.00 annualized dividend and a yield of 2.11%. Everest Group’s dividend payout ratio (DPR) is presently 11.89%.

Analyst Ratings Changes

EG has been the topic of several research analyst reports. Jefferies Financial Group boosted their price target on shares of Everest Group from $440.00 to $457.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Wells Fargo & Company increased their target price on Everest Group from $393.00 to $406.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Morgan Stanley dropped their price target on Everest Group from $450.00 to $445.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 10th. Keefe, Bruyette & Woods decreased their price objective on Everest Group from $454.00 to $438.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, Bank of America lowered their price objective on Everest Group from $496.00 to $485.00 and set a “buy” rating for the company in a research report on Thursday, October 10th. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $439.27.

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.