Cognios Beta Neutral Large Cap Fund LP Purchases New Holdings in Everest Group, Ltd. (NYSE:EG)

Cognios Beta Neutral Large Cap Fund LP purchased a new stake in Everest Group, Ltd. (NYSE:EG) during the first quarter, according to its most recent disclosure with the SEC. The firm purchased 1,027 shares of the company’s stock, valued at approximately $408,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Assenagon Asset Management S.A. purchased a new position in Everest Group in the 4th quarter worth approximately $1,866,000. Red Door Wealth Management LLC acquired a new stake in Everest Group in the 4th quarter valued at approximately $237,000. Uncommon Cents Investing LLC acquired a new stake in Everest Group in the 4th quarter valued at approximately $1,016,000. Traynor Capital Management Inc. acquired a new stake in Everest Group in the 4th quarter valued at approximately $466,000. Finally, Global Retirement Partners LLC acquired a new stake in Everest Group in the 4th quarter valued at approximately $102,000. 92.64% of the stock is owned by hedge funds and other institutional investors.

Everest Group Stock Performance

NYSE EG traded down $1.73 during trading on Tuesday, reaching $394.53. The company’s stock had a trading volume of 222,035 shares, compared to its average volume of 325,593. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.38 and a current ratio of 0.38. The firm has a market cap of $17.15 billion, a price-to-earnings ratio of 5.86, a P/E/G ratio of 1.96 and a beta of 0.63. Everest Group, Ltd. has a twelve month low of $343.36 and a twelve month high of $417.92. The business’s fifty day moving average price is $381.25 and its 200-day moving average price is $376.50.

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

Everest Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Wednesday, May 29th were paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.03%. This is a positive change from Everest Group’s previous quarterly dividend of $1.75. The ex-dividend date of this dividend was Wednesday, May 29th. Everest Group’s payout ratio is 11.89%.

Analysts Set New Price Targets

Several equities analysts have commented on EG shares. Morgan Stanley decreased their price target on shares of Everest Group from $450.00 to $445.00 and set an “overweight” rating for the company in a research report on Wednesday, July 10th. Bank of America raised their price target on shares of Everest Group from $470.00 to $493.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Wells Fargo & Company decreased their price target on shares of 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. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Everest Group from $457.00 to $454.00 and set an “outperform” rating for the company in a research report on Friday. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently 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.