Ascent Group LLC Sells 49 Shares of Everest Group, Ltd. (NYSE:EG)

Ascent Group LLC trimmed its stake in shares of Everest Group, Ltd. (NYSE:EG) by 7.7% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 586 shares of the company’s stock after selling 49 shares during the period. Ascent Group LLC’s holdings in Everest Group were worth $223,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of EG. Vanguard Group Inc. purchased a new position in shares of Everest Group during the fourth quarter valued at about $1,886,055,000. Wellington Management Group LLP purchased a new position in Everest Group during the 4th quarter valued at approximately $751,457,000. Bain Capital Public Equity Management II LLC bought a new stake in Everest Group in the 4th quarter worth approximately $148,569,000. Northern Trust Corp bought a new position in shares of Everest Group during the 4th quarter valued at approximately $148,092,000. Finally, Boston Partners boosted its position in shares of Everest Group by 29.1% during the 1st quarter. Boston Partners now owns 1,197,457 shares of the company’s stock valued at $475,750,000 after acquiring an additional 269,665 shares during the last quarter. 92.64% of the stock is currently owned by institutional investors.

Everest Group Stock Performance

Shares of Everest Group stock opened at $396.18 on Wednesday. Everest Group, Ltd. has a 52 week low of $343.76 and a 52 week high of $417.92. The company has a market capitalization of $17.06 billion, a PE ratio of 5.89, a price-to-earnings-growth ratio of 2.75 and a beta of 0.62. The stock’s fifty day moving average is $381.00 and its two-hundred day moving average is $380.44. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.24.

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 company had revenue of $4.23 billion during 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 company’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period in the prior year, the business earned $15.21 EPS. As a group, analysts expect that Everest Group, Ltd. will post 61.66 earnings per share for the current year.

Everest Group Dividend Announcement

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 2.02%. The ex-dividend date of this dividend was Monday, September 16th. Everest Group’s dividend payout ratio is presently 11.89%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Morgan Stanley decreased 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. Bank of America lifted their price target on Everest Group from $470.00 to $493.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. TD Cowen decreased their price objective on Everest Group from $419.00 to $405.00 and set a “hold” rating on the stock in a research report on Tuesday, August 13th. Wells Fargo & Company lifted their target price on Everest Group from $392.00 to $393.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Finally, Barclays started 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. 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’s stock. Based on data from MarketBeat, Everest Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $438.09.

Everest Group 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.