Squarepoint Ops LLC Sells 58,076 Shares of Everest Group, Ltd. (NYSE:EG)

Squarepoint Ops LLC lowered its position in Everest Group, Ltd. (NYSE:EG) by 95.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,873 shares of the company’s stock after selling 58,076 shares during the quarter. Squarepoint Ops LLC’s holdings in Everest Group were worth $1,095,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of EG. Campbell & CO Investment Adviser LLC bought a new position in Everest Group during the 4th quarter worth about $647,000. The Manufacturers Life Insurance Company purchased a new position in Everest Group during the fourth quarter valued at approximately $17,318,000. NEOS Investment Management LLC bought a new position in Everest Group in the fourth quarter worth approximately $217,000. CIBC Asset Management Inc purchased a new stake in Everest Group during the fourth quarter worth $1,986,000. Finally, CIBC Private Wealth Group LLC bought a new stake in Everest Group during the 4th quarter valued at $860,000. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Everest Group Price Performance

NYSE EG opened at $407.04 on Friday. The stock’s fifty day moving average price is $382.40 and its 200 day moving average price is $380.75. Everest Group, Ltd. has a 1 year low of $343.76 and a 1 year high of $417.92. 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 cap of $17.69 billion, a price-to-earnings ratio of 6.05, a PEG ratio of 2.76 and a beta of 0.61.

Everest Group (NYSE:EG) last announced its quarterly earnings data 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). The firm had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.32 billion. Everest Group had a return on equity of 24.09% and a net margin of 18.36%. The company’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $15.21 earnings per share. As a group, equities research analysts forecast that Everest Group, Ltd. will post 61.66 earnings per share for the current year.

Everest Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Monday, September 16th were issued a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend was Monday, September 16th. Everest Group’s dividend payout ratio (DPR) is currently 11.89%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Morgan Stanley decreased their price objective on Everest Group from $450.00 to $445.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. BMO Capital Markets restated a “market perform” rating and issued a $403.00 price target on shares of Everest Group in a report on Friday, August 30th. Wells Fargo & Company boosted their price objective 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. Barclays began coverage on shares of Everest Group in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $527.00 target price for the company. Finally, Bank of America upped their price target on Everest Group from $470.00 to $493.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Everest Group presently has a consensus 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.