Centaurus Financial Inc. Takes $345,000 Position in Everest Group, Ltd. (NYSE:EG)

Centaurus Financial Inc. acquired a new stake in Everest Group, Ltd. (NYSE:EG) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 975 shares of the company’s stock, valued at approximately $345,000.

Other hedge funds have also made changes to their positions in the company. Assenagon Asset Management S.A. purchased a new position in Everest Group during the 4th quarter worth approximately $1,866,000. Red Door Wealth Management LLC purchased a new position in Everest Group during the 4th quarter worth approximately $237,000. Uncommon Cents Investing LLC purchased a new position in Everest Group during the 4th quarter worth approximately $1,016,000. Traynor Capital Management Inc. purchased a new position in Everest Group during the 4th quarter worth approximately $466,000. Finally, Global Retirement Partners LLC purchased a new position in Everest Group during the 4th quarter worth approximately $102,000. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on EG shares. Wells Fargo & Company dropped their price target on Everest Group from $402.00 to $397.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 11th. Keefe, Bruyette & Woods increased their price objective on Everest Group from $445.00 to $457.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Finally, Morgan Stanley decreased their price objective on Everest Group from $466.00 to $450.00 and set an “overweight” rating for the company in a research report on Monday, April 15th. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $432.11.

Everest Group Stock Performance

Everest Group stock opened at $376.39 on Tuesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.38 and a current ratio of 0.38. The stock has a fifty day moving average of $377.06 and a two-hundred day moving average of $375.67. The company has a market capitalization of $16.36 billion, a price-to-earnings ratio of 5.59, a PEG ratio of 3.22 and a beta of 0.62. Everest Group, Ltd. has a fifty-two week low of $331.08 and a fifty-two week high of $417.92.

Everest Group (NYSE:EG) last released its quarterly earnings results on Monday, April 29th. The company reported $16.32 earnings per share for the quarter, topping the consensus estimate of $15.98 by $0.34. The company had revenue of $4.13 billion during the quarter, compared to the consensus estimate of $4.05 billion. Everest Group had a return on equity of 24.86% and a net margin of 18.69%. Everest Group’s revenue was up 25.8% compared to the same quarter last year. During the same quarter last year, the business posted $11.31 earnings per share. On average, analysts anticipate that Everest Group, Ltd. will post 61.65 EPS for the current fiscal year.

Everest Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Wednesday, May 29th were given a $2.00 dividend. The ex-dividend date of this dividend was Wednesday, May 29th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.13%. This is an increase from Everest Group’s previous quarterly dividend of $1.75. Everest Group’s payout ratio is currently 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.