1832 Asset Management L.P. Boosts Stock Position in Everest Group, Ltd. (NYSE:EG)

1832 Asset Management L.P. lifted its position in shares of Everest Group, Ltd. (NYSE:EG) by 3.5% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 5,771 shares of the company’s stock after purchasing an additional 193 shares during the quarter. 1832 Asset Management L.P.’s holdings in Everest Group were worth $2,294,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of EG. Vanguard Group Inc. bought a new position in Everest Group during the fourth quarter valued at approximately $1,886,055,000. Wellington Management Group LLP bought a new position in shares of Everest Group during the 4th quarter valued at $751,457,000. Franklin Resources Inc. purchased a new position in Everest Group in the 4th quarter worth $373,130,000. Boston Partners bought a new stake in Everest Group in the fourth quarter worth $328,064,000. Finally, Norges Bank purchased a new stake in Everest Group during the fourth quarter valued at about $202,271,000. 92.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on EG. Keefe, Bruyette & Woods reduced their price target on Everest Group from $457.00 to $454.00 and set an “outperform” rating on the stock in a research report on Friday, July 12th. Bank of America raised their target price on shares of Everest Group from $470.00 to $493.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Wells Fargo & Company lowered 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 report on Thursday, April 11th. Finally, Morgan Stanley cut their price target on shares of Everest Group from $450.00 to $445.00 and set an “overweight” rating on the stock in a report on Wednesday, July 10th. Three equities 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 company. According to MarketBeat.com, Everest Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $437.40.

Everest Group Trading Up 2.5 %

NYSE EG traded up $9.18 during trading on Friday, hitting $382.93. The company had a trading volume of 332,477 shares, compared to its average volume of 311,841. The company’s fifty day moving average is $381.95 and its 200-day moving average is $377.62. Everest Group, Ltd. has a one year low of $343.36 and a one year high of $417.92. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.25. The company has a market cap of $16.64 billion, a price-to-earnings ratio of 5.69, a price-to-earnings-growth ratio of 1.98 and a beta of 0.63.

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 net margin of 18.69% and a return on equity of 24.86%. The company had revenue of $4.13 billion during the quarter, compared to the consensus estimate of $4.05 billion. During the same period in the prior year, the firm earned $11.31 earnings per share. Everest Group’s revenue was up 25.8% on a year-over-year basis. On average, sell-side analysts predict that Everest Group, Ltd. will post 61.25 earnings per share 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 represents a $8.00 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend was Wednesday, May 29th. This is a boost from Everest Group’s previous quarterly dividend of $1.75. Everest Group’s dividend payout ratio (DPR) is presently 11.89%.

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.