Dimensional Fund Advisors LP Increases Stake in Everest Group, Ltd. (NYSE:EG)

Dimensional Fund Advisors LP lifted its stake in Everest Group, Ltd. (NYSE:EG) by 7.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 535,121 shares of the company’s stock after purchasing an additional 38,254 shares during the quarter. Dimensional Fund Advisors LP owned about 1.23% of Everest Group worth $203,891,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of EG. Vanguard Group Inc. acquired a new position in Everest Group during the fourth quarter valued at $1,886,055,000. Wellington Management Group LLP acquired a new position in Everest Group during the fourth quarter valued at $751,457,000. Norges Bank acquired a new position in Everest Group during the fourth quarter valued at $202,271,000. Bain Capital Public Equity Management II LLC acquired a new position in Everest Group during the fourth quarter valued at $148,569,000. Finally, Northern Trust Corp acquired a new position in Everest Group during the fourth quarter valued at $148,092,000. 92.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

EG has been the subject of a number of research reports. TD Cowen decreased their target price 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. Wells Fargo & Company upped their price objective on shares of Everest Group from $392.00 to $393.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Morgan Stanley decreased their price objective on shares of Everest Group from $450.00 to $445.00 and set an “overweight” rating for the company in a research report on Wednesday, July 10th. Barclays began coverage on shares of Everest Group in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $527.00 price objective for the company. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $403.00 price objective 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 issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Everest Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $438.09.

Everest Group Stock Down 0.1 %

EG opened at $388.30 on Friday. Everest Group, Ltd. has a twelve month low of $343.76 and a twelve month high of $417.92. 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 company has a 50-day moving average price of $381.42 and a 200 day moving average price of $379.69. The company has a market cap of $16.87 billion, a PE ratio of 5.77, a price-to-earnings-growth ratio of 2.64 and a beta of 0.62.

Everest Group (NYSE:EG) last announced its quarterly earnings data 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 net margin of 18.36% and a return on equity of 24.09%. The business had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.32 billion. During the same period in the prior year, the company posted $15.21 EPS. The firm’s revenue was up 15.8% on a year-over-year basis. Sell-side analysts expect that Everest Group, Ltd. will post 61.66 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Monday, September 16th will be paid a dividend of $2.00 per share. The ex-dividend date is Monday, September 16th. This represents a $8.00 annualized dividend and a yield of 2.06%. Everest Group’s dividend payout ratio 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.