DekaBank Deutsche Girozentrale Purchases 770 Shares of Everest Group, Ltd. (NYSE:EG)

DekaBank Deutsche Girozentrale boosted its position in shares of Everest Group, Ltd. (NYSE:EG) by 2.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,755 shares of the company’s stock after purchasing an additional 770 shares during the quarter. DekaBank Deutsche Girozentrale owned about 0.08% of Everest Group worth $13,209,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Intech Investment Management LLC bought a new position in Everest Group during the 4th quarter worth about $18,995,000. Dai ichi Life Insurance Company Ltd purchased a new stake in shares of Everest Group in the 4th quarter worth approximately $1,271,000. Tower Research Capital LLC TRC bought a new position in shares of Everest Group during the fourth quarter valued at approximately $2,372,000. Corient Private Wealth LLC purchased a new position in Everest Group during the fourth quarter valued at approximately $7,139,000. Finally, Perpetual Ltd raised its stake in Everest Group by 92.0% in the first quarter. Perpetual Ltd now owns 4,724 shares of the company’s stock worth $1,878,000 after buying an additional 2,264 shares in the last quarter. 92.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on EG. Wells Fargo & Company increased their target price on Everest Group from $392.00 to $393.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. 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 research note on Thursday, August 8th. TD Cowen decreased their price target on shares of Everest Group from $419.00 to $405.00 and set a “hold” rating for the company in a research report on Tuesday, August 13th. Morgan Stanley cut their price objective on shares of Everest Group from $450.00 to $445.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 10th. Finally, BMO Capital Markets reissued a “market perform” rating and set a $403.00 target price on shares of Everest Group in a research report on Friday, August 30th. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $438.09.

Everest Group Price Performance

Shares of NYSE EG opened at $382.75 on Monday. Everest Group, Ltd. has a 52 week low of $343.76 and a 52 week high of $417.92. The business’s 50 day moving average price is $380.58 and its 200 day moving average price is $379.36. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.24. The firm has a market cap of $16.56 billion, a P/E ratio of 5.69, a P/E/G ratio of 2.64 and a beta of 0.62.

Everest Group (NYSE:EG) last released its quarterly earnings data on Wednesday, July 31st. The company reported $16.85 EPS for the quarter, missing the consensus estimate of $16.97 by ($0.12). Everest Group had a net margin of 18.36% and a return on equity of 24.09%. The business had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.32 billion. During the same period last year, the company earned $15.21 earnings per share. The firm’s revenue was up 15.8% on a year-over-year basis. On average, sell-side 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 will be paid on Friday, September 27th. Shareholders of record on Monday, September 16th will be given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend is Monday, September 16th. Everest Group’s dividend 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.