Everest Group, Ltd. (NYSE:EG) Shares Bought by Prospector Partners LLC

Prospector Partners LLC raised its holdings in shares of Everest Group, Ltd. (NYSE:EG) by 0.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,293 shares of the company’s stock after buying an additional 338 shares during the quarter. Everest Group comprises about 1.8% of Prospector Partners LLC’s portfolio, making the stock its 20th biggest holding. Prospector Partners LLC owned approximately 0.10% of Everest Group worth $16,495,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. American National Bank purchased a new stake in Everest Group during the 2nd quarter valued at about $27,000. Heritage Wealth Advisors purchased a new stake in shares of Everest Group in the fourth quarter valued at approximately $30,000. FinTrust Capital Advisors LLC purchased a new stake in shares of Everest Group in the fourth quarter valued at approximately $33,000. Massmutual Trust Co. FSB ADV acquired a new stake in shares of Everest Group in the first quarter valued at approximately $33,000. Finally, Hollencrest Capital Management lifted its position in Everest Group by 575.0% during the first quarter. Hollencrest Capital Management now owns 135 shares of the company’s stock worth $54,000 after buying an additional 115 shares in the last quarter. 92.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on EG. Barclays assumed coverage on Everest Group in a report on Wednesday, September 4th. They issued an “overweight” rating and a $527.00 target price for the company. Wells Fargo & Company upped their price objective on shares of Everest Group from $392.00 to $393.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. BMO Capital Markets reaffirmed a “market perform” rating and set a $403.00 target price on shares of Everest Group in a research note on Friday, August 30th. Bank of America boosted their target price on shares of Everest Group from $470.00 to $493.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Finally, Morgan Stanley cut their price target on shares of Everest Group from $450.00 to $445.00 and set an “overweight” rating for the company in a report on Wednesday, July 10th. Four investment 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. Based on data from MarketBeat.com, Everest Group currently has an average rating of “Moderate Buy” and an average target price of $438.09.

Everest Group Stock Down 0.2 %

Shares of NYSE EG opened at $387.50 on Friday. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.24. The business’s 50 day moving average is $381.70 and its two-hundred day moving average is $379.98. Everest Group, Ltd. has a 52-week low of $343.76 and a 52-week high of $417.92. The firm has a market cap of $16.77 billion, a price-to-earnings ratio of 5.76, a PEG ratio of 2.71 and a beta of 0.62.

Everest Group (NYSE:EG) last posted 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). The firm had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.32 billion. Everest Group had a return on equity of 24.09% and a net margin of 18.36%. Everest Group’s revenue was up 15.8% on a year-over-year basis. During the same period in the previous year, the company posted $15.21 EPS. Research analysts predict that Everest Group, Ltd. will post 61.66 EPS for the current year.

Everest Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Monday, September 16th will be paid a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend is Monday, September 16th. Everest Group’s payout ratio is 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.