Ensign Peak Advisors Inc Lowers Position in Everest Group, Ltd. (NYSE:EG)

Ensign Peak Advisors Inc trimmed its holdings in shares of Everest Group, Ltd. (NYSE:EG) by 0.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,565 shares of the company’s stock after selling 85 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Everest Group were worth $6,693,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of EG. Csenge Advisory Group lifted its stake in Everest Group by 2.2% during the second quarter. Csenge Advisory Group now owns 1,239 shares of the company’s stock worth $472,000 after purchasing an additional 27 shares in the last quarter. Legend Financial Advisors Inc. lifted its stake in Everest Group by 1.6% during the 2nd quarter. Legend Financial Advisors Inc. now owns 1,765 shares of the company’s stock worth $672,000 after acquiring an additional 27 shares in the last quarter. First Trust Direct Indexing L.P. boosted its holdings in Everest Group by 0.9% during the 1st quarter. First Trust Direct Indexing L.P. now owns 2,976 shares of the company’s stock valued at $1,183,000 after acquiring an additional 28 shares during the period. Massmutual Trust Co. FSB ADV grew its position in Everest Group by 36.9% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 115 shares of the company’s stock valued at $44,000 after acquiring an additional 31 shares in the last quarter. Finally, Banque Cantonale Vaudoise increased its stake in Everest Group by 4.6% during the second quarter. Banque Cantonale Vaudoise now owns 745 shares of the company’s stock worth $284,000 after purchasing an additional 33 shares during the period. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Everest Group Price Performance

EG stock opened at $382.85 on Thursday. The business has a 50 day moving average price of $380.98 and a 200 day moving average price of $380.31. 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 stock has a market cap of $16.49 billion, a price-to-earnings ratio of 5.69, a PEG ratio of 2.69 and a beta of 0.62. Everest Group, Ltd. has a fifty-two week low of $343.76 and a fifty-two week high of $417.92.

Everest Group (NYSE:EG) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $16.85 earnings per share for the quarter, missing the consensus estimate of $16.97 by ($0.12). The company had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.32 billion. Everest Group had a return on equity of 24.09% and a net margin of 18.36%. The firm’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $15.21 EPS. Equities research analysts anticipate that Everest Group, Ltd. will post 61.66 earnings per share for the current fiscal year.

Everest Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Monday, September 16th will be issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend is Monday, September 16th. Everest Group’s payout ratio is 11.89%.

Wall Street Analyst Weigh In

EG has been the subject of a number of research reports. Morgan Stanley dropped their price objective 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. Keefe, Bruyette & Woods cut their price objective on Everest Group from $454.00 to $438.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Bank of America lifted their target price on Everest Group from $470.00 to $493.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Barclays began 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. Finally, TD Cowen decreased their price objective on Everest Group from $419.00 to $405.00 and set a “hold” rating for the company in a research note on Tuesday, August 13th. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Everest Group has an average rating of “Moderate Buy” and an average target price of $438.09.

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.