Hsbc Holdings PLC Has $17.49 Million Stake in Everest Group, Ltd. (NYSE:EG)

Hsbc Holdings PLC lowered its stake in shares of Everest Group, Ltd. (NYSE:EG) by 13.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,999 shares of the company’s stock after selling 7,134 shares during the quarter. Hsbc Holdings PLC owned about 0.11% of Everest Group worth $17,493,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. acquired a new position in shares of Everest Group in the 4th quarter valued at approximately $1,886,055,000. Wellington Management Group LLP acquired a new position in Everest Group during the fourth quarter valued at approximately $751,457,000. Boston Partners lifted its stake in Everest Group by 29.1% during the first quarter. Boston Partners now owns 1,197,457 shares of the company’s stock worth $475,750,000 after purchasing an additional 269,665 shares during the last quarter. Champlain Investment Partners LLC boosted its holdings in shares of Everest Group by 5.3% in the 1st quarter. Champlain Investment Partners LLC now owns 906,100 shares of the company’s stock valued at $360,175,000 after purchasing an additional 45,705 shares in the last quarter. Finally, William Blair Investment Management LLC increased its stake in shares of Everest Group by 30.2% in the 2nd quarter. William Blair Investment Management LLC now owns 580,171 shares of the company’s stock valued at $221,057,000 after purchasing an additional 134,517 shares during the last quarter. Institutional investors own 92.64% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. TD Cowen reduced their price objective on Everest Group from $419.00 to $405.00 and set a “hold” rating on the stock in a research note on Tuesday, August 13th. Keefe, Bruyette & Woods decreased their price target on shares of Everest Group from $454.00 to $438.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. BMO Capital Markets restated a “market perform” rating and issued a $403.00 target price on shares of Everest Group in a research report on Friday, August 30th. Wells Fargo & Company boosted their target price on shares of Everest Group from $392.00 to $393.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. Finally, Barclays initiated coverage on Everest Group in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $527.00 price target for the company. 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $438.09.

Everest Group Price Performance

Shares of EG opened at $387.50 on Monday. The business has a 50-day moving average of $381.70 and a 200-day moving average of $380.05. 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 company has a market capitalization of $16.77 billion, a price-to-earnings ratio of 5.76, a price-to-earnings-growth ratio of 2.71 and a beta of 0.62. Everest Group, Ltd. has a 1 year low of $343.76 and a 1 year high of $417.92.

Everest Group (NYSE:EG) last released its quarterly earnings results 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 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 the consensus estimate of $4.32 billion. During the same quarter in the previous year, the business posted $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 anticipate that Everest Group, Ltd. will post 61.66 earnings per share for the current year.

Everest Group Dividend Announcement

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