Everest Group, Ltd. (NYSE:EG) Shares Acquired by Sei Investments Co.

Sei Investments Co. grew its holdings in Everest Group, Ltd. (NYSE:EG) by 0.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 95,150 shares of the company’s stock after purchasing an additional 397 shares during the period. Sei Investments Co. owned approximately 0.18% of Everest Group worth $37,828,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Forsta AP Fonden lifted its stake in Everest Group by 131.1% during the 1st quarter. Forsta AP Fonden now owns 17,100 shares of the company’s stock worth $6,797,000 after acquiring an additional 9,700 shares in the last quarter. Illinois Municipal Retirement Fund lifted its stake in Everest Group by 0.6% during the 1st quarter. Illinois Municipal Retirement Fund now owns 24,238 shares of the company’s stock worth $9,635,000 after acquiring an additional 152 shares in the last quarter. Oppenheimer & Co. Inc. increased its holdings in Everest Group by 42.4% during the 1st quarter. Oppenheimer & Co. Inc. now owns 6,356 shares of the company’s stock worth $2,527,000 after purchasing an additional 1,894 shares during the period. SG Americas Securities LLC purchased a new stake in Everest Group during the 1st quarter worth about $6,583,000. Finally, TFB Advisors LLC increased its holdings in Everest Group by 104.1% during the 1st quarter. TFB Advisors LLC now owns 1,782 shares of the company’s stock worth $659,000 after purchasing an additional 909 shares during the period. Institutional investors and hedge funds own 92.64% of the company’s stock.

Everest Group Stock Performance

NYSE:EG traded up $14.62 during mid-day trading on Monday, reaching $396.26. 488,775 shares of the stock were exchanged, compared to its average volume of 326,366. The company has a 50 day simple moving average of $380.59 and a 200-day simple moving average of $375.91. The stock has a market capitalization of $17.22 billion, a P/E ratio of 5.88, a P/E/G ratio of 1.96 and a beta of 0.63. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.25. Everest Group, Ltd. has a 1 year low of $343.36 and a 1 year high of $417.92.

Everest Group (NYSE:EG) last released its quarterly earnings results on Monday, April 29th. The company reported $16.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $15.98 by $0.34. Everest Group had a return on equity of 24.86% and a net margin of 18.69%. The firm had revenue of $4.13 billion for the quarter, compared to the consensus estimate of $4.05 billion. During the same quarter last year, the business posted $11.31 EPS. The firm’s quarterly revenue was up 25.8% compared to the same quarter last year. Analysts anticipate that Everest Group, Ltd. will post 61.49 earnings per share for the current fiscal year.

Everest Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Wednesday, May 29th were given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 2.02%. This is a boost from Everest Group’s previous quarterly dividend of $1.75. The ex-dividend date was Wednesday, May 29th. Everest Group’s dividend payout ratio (DPR) is presently 11.89%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on EG shares. Wells Fargo & Company cut their price target on Everest Group from $402.00 to $397.00 and set an “equal weight” rating on the stock in a report on Thursday, April 11th. Morgan Stanley cut 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. Keefe, Bruyette & Woods cut their price target on Everest Group from $457.00 to $454.00 and set an “outperform” rating on the stock in a report on Friday. Finally, Bank of America increased their price objective on Everest Group from $470.00 to $493.00 and gave the company a “buy” rating in a report on Thursday. Three research 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $437.40.

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.