QRG Capital Management Inc. Increases Holdings in Everest Group, Ltd. (NYSE:EG)

QRG Capital Management Inc. boosted its holdings in shares of Everest Group, Ltd. (NYSE:EG) by 1.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,411 shares of the company’s stock after acquiring an additional 622 shares during the quarter. QRG Capital Management Inc. owned about 0.07% of Everest Group worth $14,474,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of EG. Arnhold LLC purchased a new position in shares of Everest Group during the 1st quarter worth $19,896,000. Sei Investments Co. lifted its stake in shares of Everest Group by 0.4% during the 1st quarter. Sei Investments Co. now owns 95,150 shares of the company’s stock worth $37,828,000 after purchasing an additional 397 shares during the period. Forsta AP Fonden increased its holdings in shares of 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 buying an additional 9,700 shares during the last quarter. Illinois Municipal Retirement Fund increased its holdings in shares of 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 buying an additional 152 shares during the last quarter. Finally, Oppenheimer & Co. Inc. increased its holdings in shares of 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 buying an additional 1,894 shares during the last quarter. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Everest Group Stock Down 0.3 %

Shares of EG stock traded down $1.24 during trading hours on Tuesday, hitting $395.02. 153,386 shares of the company were exchanged, compared to its average volume of 325,084. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.38 and a current ratio of 0.38. Everest Group, Ltd. has a one year low of $343.36 and a one year high of $417.92. The business’s 50-day simple moving average is $380.94 and its two-hundred day simple moving average is $376.22. The stock has a market capitalization of $17.17 billion, a price-to-earnings ratio of 5.89, a P/E/G ratio of 1.96 and a beta of 0.63.

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

Everest Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Wednesday, May 29th were issued a $2.00 dividend. The ex-dividend date was Wednesday, May 29th. This represents a $8.00 dividend on an annualized basis and a yield of 2.03%. This is a boost from Everest Group’s previous quarterly dividend of $1.75. Everest Group’s dividend payout ratio (DPR) is currently 11.89%.

Analyst Ratings Changes

A number of analysts have recently commented on EG shares. Wells Fargo & Company dropped their price objective on Everest Group from $402.00 to $397.00 and set an “equal weight” rating for the company in a report on Thursday, April 11th. Bank of America upped their price objective on Everest Group from $470.00 to $493.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Keefe, Bruyette & Woods lowered their price target on Everest Group from $457.00 to $454.00 and set an “outperform” rating for the company in a report on Friday. Finally, Morgan Stanley lowered their price target on Everest Group from $450.00 to $445.00 and set an “overweight” rating for the company in a report on Wednesday, July 10th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Everest Group presently has an average rating of “Moderate Buy” and a consensus 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.