Cetera Investment Advisers Grows Stake in Everest Group, Ltd. (NYSE:EG)

Cetera Investment Advisers grew its holdings in Everest Group, Ltd. (NYSE:EG) by 9.0% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 5,316 shares of the company’s stock after acquiring an additional 437 shares during the quarter. Cetera Investment Advisers’ holdings in Everest Group were worth $2,026,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. American National Bank purchased a new position in Everest Group during the 2nd quarter worth approximately $27,000. Massmutual Trust Co. FSB ADV purchased a new position in Everest Group during the 1st quarter worth approximately $33,000. Hollencrest Capital Management lifted its position in Everest Group by 575.0% during the 1st quarter. Hollencrest Capital Management now owns 135 shares of the company’s stock worth $54,000 after acquiring an additional 115 shares during the period. Whittier Trust Co. of Nevada Inc. acquired a new stake in Everest Group during the 1st quarter worth approximately $61,000. Finally, Blue Trust Inc. lifted its position in Everest Group by 92.9% during the 2nd quarter. Blue Trust Inc. now owns 162 shares of the company’s stock worth $64,000 after acquiring an additional 78 shares during the period. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Everest Group Stock Performance

Shares of NYSE:EG opened at $393.96 on Monday. The firm has a market capitalization of $17.12 billion, a PE ratio of 5.85, a P/E/G ratio of 2.70 and a beta of 0.61. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.38 and a quick ratio of 0.38. The business has a 50-day moving average of $382.90 and a two-hundred day moving average of $380.53. Everest Group, Ltd. has a 12 month low of $343.76 and a 12 month high of $417.92.

Everest Group (NYSE:EG) last issued its earnings results 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 analysts’ expectations of $4.32 billion. Everest Group had a return on equity of 24.09% and a net margin of 18.36%. Everest Group’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period in the previous year, the company earned $15.21 EPS. As a group, research analysts forecast that Everest Group, Ltd. will post 61.78 earnings per share for the current year.

Everest Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Monday, September 16th were issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date was Monday, September 16th. Everest Group’s dividend payout ratio is currently 11.89%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on EG. Barclays assumed coverage on Everest Group in a research report on Wednesday, September 4th. They set an “overweight” rating and a $527.00 price objective for the company. Jefferies Financial Group boosted their target price on Everest Group from $440.00 to $457.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Morgan Stanley decreased their target price on Everest Group from $450.00 to $445.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 10th. UBS Group upgraded Everest Group to a “hold” rating in a research report on Wednesday, October 9th. Finally, Keefe, Bruyette & Woods reduced 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. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Everest Group has an average rating of “Moderate Buy” and an average target price of $439.27.

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.