Everest Group, Ltd. (NYSE:EG) Position Increased by Forsta AP Fonden

Forsta AP Fonden lifted its holdings in Everest Group, Ltd. (NYSE:EG) by 83.9% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 11,400 shares of the company’s stock after buying an additional 5,200 shares during the quarter. Forsta AP Fonden’s holdings in Everest Group were worth $4,467,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of EG. SG Americas Securities LLC lifted its holdings in Everest Group by 284.8% in the third quarter. SG Americas Securities LLC now owns 24,556 shares of the company’s stock worth $9,622,000 after acquiring an additional 18,175 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Everest Group by 163.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,772 shares of the company’s stock worth $1,897,000 after acquiring an additional 2,964 shares during the last quarter. Whittier Trust Co. bought a new position in Everest Group in the first quarter worth about $1,505,000. Clearbridge Investments LLC lifted its holdings in Everest Group by 1.5% in the first quarter. Clearbridge Investments LLC now owns 289,439 shares of the company’s stock worth $115,052,000 after acquiring an additional 4,412 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. bought a new position in Everest Group in the second quarter worth about $921,000. 92.64% of the stock is owned by institutional investors and hedge funds.

Everest Group Trading Down 1.2 %

Everest Group stock opened at $376.76 on Wednesday. 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 cap of $16.22 billion, a price-to-earnings ratio of 5.56, a price-to-earnings-growth ratio of 2.67 and a beta of 0.61. Everest Group, Ltd. has a 1 year low of $343.76 and a 1 year high of $417.92. The firm’s 50 day moving average price is $387.36 and its two-hundred day moving average price is $380.82.

Everest Group (NYSE:EG) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $16.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $16.97 by ($0.12). Everest Group had a return on equity of 24.09% and a net margin of 18.36%. The business had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.32 billion. During the same quarter last year, the firm posted $15.21 EPS. The company’s quarterly revenue was up 15.8% compared to the same quarter last year. On average, research analysts predict that Everest Group, Ltd. will post 60.97 EPS for the current fiscal year.

Everest Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Monday, September 16th were given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 2.12%. The ex-dividend date was Monday, September 16th. Everest Group’s payout ratio is 11.81%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods cut their price target on Everest Group from $454.00 to $438.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. TD Cowen cut their price target on Everest Group from $419.00 to $405.00 and set a “hold” rating on the stock in a report on Tuesday, August 13th. Morgan Stanley cut their price target on Everest Group from $450.00 to $445.00 and set an “overweight” rating on the stock in a report on Wednesday, July 10th. BMO Capital Markets reaffirmed a “market perform” rating and set a $403.00 price target on shares of Everest Group in a report on Friday, August 30th. Finally, UBS Group raised Everest Group to a “hold” rating in a report on Wednesday, October 9th. Five research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $439.27.

About Everest Group

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.