Susquehanna Fundamental Investments LLC Takes $8.80 Million Position in Everest Group, Ltd. (NYSE:EG)

Susquehanna Fundamental Investments LLC purchased a new position in Everest Group, Ltd. (NYSE:EG) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 23,090 shares of the company’s stock, valued at approximately $8,798,000. Susquehanna Fundamental Investments LLC owned about 0.05% of Everest Group at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in EG. American National Bank purchased a new position in Everest Group during the 2nd quarter worth $27,000. FinTrust Capital Advisors LLC purchased a new position in shares of Everest Group during the fourth quarter valued at $33,000. Massmutual Trust Co. FSB ADV bought a new stake in shares of Everest Group in the first quarter valued at about $33,000. Hollencrest Capital Management lifted its stake in Everest Group by 575.0% in the first quarter. Hollencrest Capital Management now owns 135 shares of the company’s stock worth $54,000 after acquiring an additional 115 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. bought a new position in Everest Group during the 1st quarter worth about $61,000. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on EG. Bank of America boosted their price target on shares of Everest Group from $470.00 to $493.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Barclays started coverage on Everest Group in a report on Wednesday, September 4th. They set an “overweight” rating and a $527.00 target price for the company. BMO Capital Markets reaffirmed a “market perform” rating and set a $403.00 target price on shares of Everest Group in a research report on Friday, August 30th. Morgan Stanley reduced their price target on Everest Group from $450.00 to $445.00 and set an “overweight” rating for the company in a research report on Wednesday, July 10th. Finally, TD Cowen dropped their price objective on Everest Group from $419.00 to $405.00 and set a “hold” rating on the stock in a research report on Tuesday, August 13th. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $438.09.

Everest Group Stock Up 2.0 %

Everest Group stock opened at $395.14 on Friday. Everest Group, Ltd. has a 1-year low of $343.76 and a 1-year high of $417.92. The business has a fifty day moving average price of $380.93 and a 200-day moving average price of $380.45. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.38 and a quick ratio of 0.38. The stock has a market capitalization of $17.01 billion, a price-to-earnings ratio of 5.87, a PEG ratio of 2.67 and a beta of 0.62.

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 the consensus estimate of $16.97 by ($0.12). Everest Group had a return on equity of 24.09% and a net margin of 18.36%. 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 prior year, the business posted $15.21 EPS. Everest Group’s revenue was up 15.8% compared to the same quarter last year. Equities research analysts forecast that Everest Group, Ltd. will post 61.66 EPS for the current fiscal year.

Everest Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Monday, September 16th were given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 2.02%. The ex-dividend date was Monday, September 16th. Everest Group’s dividend payout ratio is presently 11.89%.

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.