Clearbridge Investments LLC Has $108.06 Million Stock Holdings in Everest Group, Ltd. (NYSE:EG)

Clearbridge Investments LLC decreased its position in shares of Everest Group, Ltd. (NYSE:EG) by 2.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 283,596 shares of the company’s stock after selling 5,843 shares during the period. Clearbridge Investments LLC owned approximately 0.65% of Everest Group worth $108,056,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. acquired a new stake in Everest Group during the fourth quarter worth about $1,886,055,000. Wellington Management Group LLP bought a new position in shares of Everest Group in the fourth quarter worth about $751,457,000. Boston Partners grew its holdings 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 purchasing an additional 269,665 shares during the last quarter. AQR Capital Management LLC lifted its stake in Everest Group by 1.8% in the 2nd quarter. AQR Capital Management LLC now owns 1,032,479 shares of the company’s stock valued at $393,395,000 after purchasing an additional 17,885 shares during the last quarter. Finally, Champlain Investment Partners LLC boosted its position in Everest Group by 5.3% in the first quarter. Champlain Investment Partners LLC now owns 906,100 shares of the company’s stock valued at $360,175,000 after buying an additional 45,705 shares in the last quarter. Institutional investors own 92.64% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Bank of America boosted their price objective on Everest Group from $470.00 to $493.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Wells Fargo & Company raised 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 reissued a “market perform” rating and set a $403.00 target price on shares of Everest Group in a report on Friday, August 30th. Morgan Stanley cut their price target on shares of Everest Group from $450.00 to $445.00 and set an “overweight” rating on the stock in a report on Wednesday, July 10th. Finally, Keefe, Bruyette & Woods cut their target price on Everest Group from $454.00 to $438.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $438.09.

Everest Group Stock Performance

NYSE:EG opened at $396.40 on Thursday. The company has a fifty day moving average of $381.22 and a 200-day moving average of $380.46. The firm has a market capitalization of $17.23 billion, a P/E ratio of 5.89, a P/E/G ratio of 2.75 and a beta of 0.61. 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, Ltd. has a twelve month low of $343.76 and a twelve month high of $417.92.

Everest Group (NYSE:EG) last released 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 during the quarter, compared to the consensus estimate of $4.32 billion. Everest Group had a net margin of 18.36% and a return on equity of 24.09%. The business’s revenue was up 15.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $15.21 EPS. As a group, sell-side analysts anticipate that Everest Group, Ltd. will post 61.66 EPS for the current year.

Everest Group Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend was Monday, September 16th. This represents a $8.00 dividend on an annualized basis and a yield of 2.02%. Everest Group’s dividend payout ratio (DPR) is presently 11.89%.

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.