Everest Group, Ltd. (NYSE:EG) Shares Purchased by WealthTrust Asset Management LLC

WealthTrust Asset Management LLC increased its stake in Everest Group, Ltd. (NYSE:EG) by 1.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,770 shares of the company’s stock after acquiring an additional 45 shares during the quarter. WealthTrust Asset Management LLC’s holdings in Everest Group were worth $1,055,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. purchased a new position in shares of Everest Group in the fourth quarter valued at approximately $1,886,055,000. Wellington Management Group LLP acquired a new stake in Everest Group during the 4th quarter worth $751,457,000. Norges Bank purchased a new stake in shares of Everest Group during the fourth quarter worth $202,271,000. Bain Capital Public Equity Management II LLC acquired a new stake in shares of Everest Group in the fourth quarter valued at about $148,569,000. Finally, Northern Trust Corp purchased a new position in shares of Everest Group in the fourth quarter worth about $148,092,000. 92.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on EG. BMO Capital Markets reaffirmed a “market perform” rating and set a $403.00 price objective on shares of Everest Group in a research note on Friday, August 30th. Wells Fargo & Company increased their price target on Everest Group from $392.00 to $393.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Morgan Stanley reduced their price objective on Everest Group from $450.00 to $445.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 10th. Keefe, Bruyette & Woods dropped their target price on Everest Group from $454.00 to $438.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, Bank of America lifted their price target on Everest Group from $470.00 to $493.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Four 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’s stock. According to data from MarketBeat, Everest Group currently has a consensus rating of “Moderate Buy” and an average price target of $438.09.

Everest Group Price Performance

Everest Group stock opened at $388.30 on Friday. The company’s 50 day simple moving average is $381.42 and its 200-day simple moving average 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, Ltd. has a 1 year low of $343.76 and a 1 year high of $417.92. The company has a market capitalization of $16.80 billion, a price-to-earnings ratio of 5.77, a price-to-earnings-growth ratio of 2.71 and a beta of 0.62.

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

Everest Group Announces Dividend

The company also recently announced 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. This represents a $8.00 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend 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.