Everest Group, Ltd. (NYSE:EG) Shares Sold by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. lowered its position in Everest Group, Ltd. (NYSE:EG) by 4.7% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 3,059 shares of the company’s stock after selling 150 shares during the period. First Trust Direct Indexing L.P.’s holdings in Everest Group were worth $1,199,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC raised its holdings in shares of Everest Group by 284.8% during the 3rd quarter. SG Americas Securities LLC now owns 24,556 shares of the company’s stock worth $9,622,000 after acquiring an additional 18,175 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in 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 buying an additional 2,964 shares during the period. Whittier Trust Co. purchased a new stake in Everest Group in the 1st quarter valued at about $1,505,000. Clearbridge Investments LLC raised its holdings in Everest Group by 1.5% in the 1st quarter. Clearbridge Investments LLC now owns 289,439 shares of the company’s stock valued at $115,052,000 after buying an additional 4,412 shares during the period. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in Everest Group in the 2nd quarter valued at about $921,000. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Analyst Upgrades and Downgrades

EG has been the topic of several research analyst reports. Wells Fargo & Company boosted their price objective on shares of Everest Group from $393.00 to $406.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Bank of America decreased their target price on Everest Group from $496.00 to $485.00 and set a “buy” rating for the company in a research note on Thursday, October 10th. UBS Group upgraded Everest Group to a “hold” rating in a research note on Wednesday, October 9th. Barclays decreased their target price on Everest Group from $527.00 to $517.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, Jefferies Financial Group boosted their price objective on Everest Group from $440.00 to $457.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Five research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $438.36.

Everest Group Price Performance

Everest Group stock opened at $355.59 on Friday. Everest Group, Ltd. has a 12 month low of $343.76 and a 12 month 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. The business has a 50 day simple moving average of $387.38 and a 200-day simple moving average of $380.81. The stock has a market capitalization of $15.31 billion, a PE ratio of 5.34, a price-to-earnings-growth ratio of 2.67 and a beta of 0.61.

Everest Group (NYSE:EG) last released 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 return on equity of 24.09% and a net margin of 18.36%. The company had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.32 billion. During the same quarter last year, the company earned $15.21 EPS. Everest Group’s revenue for the quarter was up 15.8% compared to the same quarter last year. Equities analysts predict that Everest Group, Ltd. will post 60.97 earnings per share for the current year.

Everest Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Monday, September 16th were paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend was Monday, September 16th. Everest Group’s dividend payout ratio (DPR) is presently 11.81%.

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.