BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Raises Stock Position in Everest Group, Ltd. (NYSE:EG)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Everest Group, Ltd. (NYSE:EG) by 61.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,338 shares of the company’s stock after acquiring an additional 3,158 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Everest Group were worth $3,177,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. purchased a new position in shares of Everest Group in the 4th quarter valued at $1,886,055,000. Wellington Management Group LLP purchased a new stake in Everest Group during the 4th quarter worth $751,457,000. Boston Partners increased its stake in Everest Group by 29.1% during the 1st quarter. Boston Partners now owns 1,197,457 shares of the company’s stock worth $475,750,000 after buying an additional 269,665 shares during the period. Champlain Investment Partners LLC increased its stake in Everest Group by 5.3% during the 1st quarter. Champlain Investment Partners LLC now owns 906,100 shares of the company’s stock worth $360,175,000 after buying an additional 45,705 shares during the period. Finally, William Blair Investment Management LLC increased its stake in Everest Group by 30.2% during the 2nd quarter. William Blair Investment Management LLC now owns 580,171 shares of the company’s stock worth $221,057,000 after buying an additional 134,517 shares during the period. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Everest Group Trading Up 2.0 %

NYSE EG opened at $395.15 on Friday. Everest Group, Ltd. has a one year low of $343.76 and a one year high of $417.92. The company has a 50-day simple moving average of $380.93 and a 200-day simple moving average of $380.47. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.38 and a current ratio of 0.38. The firm has a market capitalization of $17.02 billion, a PE ratio of 5.87, a price-to-earnings-growth ratio of 2.67 and a beta of 0.62.

Everest Group (NYSE:EG) last posted 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). The business had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.32 billion. Everest Group had a net margin of 18.36% and a return on equity of 24.09%. The company’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period last year, the firm posted $15.21 earnings per share. On average, equities analysts forecast that Everest Group, Ltd. will post 61.66 earnings per share for the current year.

Everest Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Monday, September 16th were paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date was Monday, September 16th. Everest Group’s payout ratio is 11.89%.

Wall Street Analysts Forecast Growth

EG has been the topic of several analyst reports. Morgan Stanley dropped their price target on shares of Everest Group from $450.00 to $445.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 10th. TD Cowen dropped their price target on shares of Everest Group from $419.00 to $405.00 and set a “hold” rating on the stock in a research note on Tuesday, August 13th. Barclays began coverage on shares of Everest Group in a report on Wednesday, September 4th. They set an “overweight” rating and a $527.00 price objective for the company. Bank of America raised their price objective on shares of Everest Group from $470.00 to $493.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Finally, BMO Capital Markets reissued a “market perform” rating and set a $403.00 price objective on shares of Everest Group in a report on Friday, August 30th. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus 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.