Everest Group, Ltd. (NYSE:EG) Shares Purchased by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV grew its position in shares of Everest Group, Ltd. (NYSE:EG) by 11.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,931 shares of the company’s stock after purchasing an additional 3,791 shares during the period. Mercer Global Advisors Inc. ADV owned 0.09% of Everest Group worth $14,503,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of EG. Mutual of America Capital Management LLC boosted its position in Everest Group by 7.0% during the second quarter. Mutual of America Capital Management LLC now owns 17,062 shares of the company’s stock worth $6,501,000 after acquiring an additional 1,119 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Everest Group by 7.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 535,121 shares of the company’s stock worth $203,891,000 after purchasing an additional 38,254 shares during the period. William Blair Investment Management LLC boosted its holdings in shares of Everest Group by 30.2% during the second quarter. William Blair Investment Management LLC now owns 580,171 shares of the company’s stock worth $221,057,000 after purchasing an additional 134,517 shares during the last quarter. Darwin Wealth Management LLC increased its stake in Everest Group by 13.0% in the second quarter. Darwin Wealth Management LLC now owns 573 shares of the company’s stock valued at $218,000 after purchasing an additional 66 shares during the last quarter. Finally, Federated Hermes Inc. lifted its position in Everest Group by 4.7% during the second quarter. Federated Hermes Inc. now owns 11,523 shares of the company’s stock worth $4,391,000 after buying an additional 515 shares during the period. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on EG. Morgan Stanley lowered their price target on Everest Group from $450.00 to $445.00 and set an “overweight” rating for the company in a report on Wednesday, July 10th. TD Cowen dropped 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. Barclays initiated coverage on shares of Everest Group in a report on Wednesday, September 4th. They issued an “overweight” rating and a $527.00 price target on the stock. Bank of America upped their price objective on Everest Group from $470.00 to $493.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $403.00 target price on shares of Everest Group in a report on Friday, August 30th. Four analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Everest Group presently has an average rating of “Moderate Buy” and a consensus target price of $438.09.

Everest Group Stock Performance

Everest Group stock opened at $388.30 on Friday. The firm has a market capitalization 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, Ltd. has a one year low of $343.76 and a one year high of $417.92. The stock’s 50 day moving average price is $381.42 and its 200 day moving average price is $379.69. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.38 and a current ratio of 0.38.

Everest Group (NYSE:EG) last posted its earnings results on Wednesday, July 31st. The company reported $16.85 EPS for the quarter, missing analysts’ consensus estimates of $16.97 by ($0.12). Everest Group had a return on equity of 24.09% and a net margin of 18.36%. The firm had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.32 billion. During the same period in the previous year, the firm posted $15.21 earnings per share. The company’s revenue for the quarter was up 15.8% on a year-over-year basis. As a group, sell-side analysts expect that Everest Group, Ltd. will post 61.66 EPS for the current fiscal year.

Everest Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Monday, September 16th will be given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date is Monday, September 16th. Everest Group’s payout ratio is 11.89%.

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.