E&G Advisors LP Purchases 265 Shares of Everest Group, Ltd. (NYSE:EG)

E&G Advisors LP grew its position in Everest Group, Ltd. (NYSE:EG) by 24.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,345 shares of the company’s stock after acquiring an additional 265 shares during the quarter. E&G Advisors LP’s holdings in Everest Group were worth $533,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of EG. Vanguard Group Inc. bought a new position in shares of Everest Group during the 4th quarter worth approximately $1,886,055,000. Wellington Management Group LLP bought a new position in shares of Everest Group during the 4th quarter worth approximately $751,457,000. Franklin Resources Inc. bought a new position in shares of Everest Group during the 4th quarter worth approximately $373,130,000. Boston Partners bought a new position in shares of Everest Group during the 4th quarter worth approximately $328,064,000. Finally, Norges Bank bought a new position in shares of Everest Group during the 4th quarter worth approximately $202,271,000. Institutional investors own 92.64% of the company’s stock.

Everest Group Trading Down 1.3 %

Shares of NYSE EG traded down $4.90 during midday trading on Wednesday, hitting $364.77. The stock had a trading volume of 262,596 shares, compared to its average volume of 327,661. The company’s 50-day simple moving average is $379.89 and its 200 day simple moving average is $374.95. The firm has a market cap of $15.85 billion, a P/E ratio of 5.42, a price-to-earnings-growth ratio of 3.34 and a beta of 0.63. Everest Group, Ltd. has a fifty-two week low of $333.65 and a fifty-two week high of $417.92. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.38 and a quick ratio of 0.38.

Everest Group (NYSE:EG) last released its earnings results on Monday, April 29th. The company reported $16.32 EPS for the quarter, beating the consensus estimate of $15.98 by $0.34. The company had revenue of $4.13 billion during the quarter, compared to analysts’ expectations of $4.05 billion. Everest Group had a return on equity of 24.86% and a net margin of 18.69%. The business’s revenue for the quarter was up 25.8% on a year-over-year basis. During the same period last year, the firm earned $11.31 EPS. Research analysts anticipate that Everest Group, Ltd. will post 61.65 EPS for the current year.

Everest Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Wednesday, May 29th were paid a $2.00 dividend. This is a boost from Everest Group’s previous quarterly dividend of $1.75. This represents a $8.00 annualized dividend and a dividend yield of 2.19%. The ex-dividend date was Wednesday, May 29th. Everest Group’s dividend payout ratio (DPR) is 11.89%.

Analyst Ratings Changes

EG has been the subject of several analyst reports. Wells Fargo & Company cut their target price on Everest Group from $402.00 to $397.00 and set an “equal weight” rating for the company in a research report on Thursday, April 11th. Keefe, Bruyette & Woods lifted their price objective on Everest Group from $445.00 to $457.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Finally, Morgan Stanley cut their price objective on Everest Group from $466.00 to $450.00 and set an “overweight” rating for the company in a research report on Monday, April 15th. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $432.11.

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.