Everest Group, Ltd. (NYSE:EG) Shares Purchased by Intech Investment Management LLC

Intech Investment Management LLC raised its stake in Everest Group, Ltd. (NYSE:EG) by 2.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,158 shares of the company’s stock after acquiring an additional 562 shares during the period. Intech Investment Management LLC owned 0.06% of Everest Group worth $9,205,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in EG. American National Bank acquired a new position in Everest Group during the 2nd quarter valued at approximately $27,000. Heritage Wealth Advisors acquired a new position in shares of Everest Group during the fourth quarter valued at $30,000. FinTrust Capital Advisors LLC bought a new position in shares of Everest Group during the fourth quarter worth about $33,000. Massmutual Trust Co. FSB ADV acquired a new stake in shares of Everest Group in the 1st quarter worth about $33,000. Finally, Hollencrest Capital Management lifted its position in Everest Group by 575.0% in the 1st quarter. Hollencrest Capital Management now owns 135 shares of the company’s stock valued at $54,000 after purchasing an additional 115 shares during the last quarter. 92.64% of the stock is owned by institutional investors.

Everest Group Price Performance

Shares of Everest Group stock opened at $387.50 on Friday. Everest Group, Ltd. has a 52 week low of $343.76 and a 52 week high of $417.92. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.24. The stock has a market cap of $16.77 billion, a PE ratio of 5.76, a price-to-earnings-growth ratio of 2.71 and a beta of 0.62. The company’s 50-day moving average price is $381.70 and its two-hundred day moving average price is $379.89.

Everest Group (NYSE:EG) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $16.85 earnings per share 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 business had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.32 billion. During the same period in the previous year, the company posted $15.21 earnings per share. Everest Group’s revenue was up 15.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Everest Group, Ltd. will post 61.66 EPS for the current fiscal year.

Everest Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Monday, September 16th will be issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis 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%.

Analyst Ratings Changes

EG has been the subject of several recent analyst reports. Bank of America upped their target price on shares of Everest Group from $470.00 to $493.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Keefe, Bruyette & Woods lowered their target price on Everest Group from $454.00 to $438.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. TD Cowen reduced their price target on 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 lowered their price target on Everest Group from $450.00 to $445.00 and set an “overweight” rating on the stock in a report on Wednesday, July 10th. Finally, Barclays assumed coverage on shares of Everest Group in a research note on Wednesday, September 4th. They set an “overweight” rating and a $527.00 price objective on the stock. Four equities research 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 data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $438.09.

Everest Group Company 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.