Everest Group, Ltd. (NYSE:EG) Shares Acquired by Legend Financial Advisors Inc.

Legend Financial Advisors Inc. lifted its stake in shares of Everest Group, Ltd. (NYSE:EG) by 1.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,765 shares of the company’s stock after buying an additional 27 shares during the period. Everest Group makes up approximately 0.5% of Legend Financial Advisors Inc.’s investment portfolio, making the stock its 28th biggest holding. Legend Financial Advisors Inc.’s holdings in Everest Group were worth $672,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Headlands Technologies LLC acquired a new position in Everest Group during the fourth quarter valued at $25,000. American National Bank acquired a new position in Everest Group during the second quarter valued at $27,000. Massmutual Trust Co. FSB ADV acquired a new position in Everest Group during the first quarter valued at $33,000. Heritage Wealth Advisors acquired a new position in Everest Group during the fourth quarter valued at $30,000. Finally, FinTrust Capital Advisors LLC acquired a new position in Everest Group during the fourth quarter valued at $33,000. 92.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

EG has been the subject of a number of research reports. Morgan Stanley decreased their target price 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. Keefe, Bruyette & Woods decreased their target price on shares of Everest Group from $454.00 to $438.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Bank of America boosted their target price 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 upped their price objective on shares of Everest Group from $392.00 to $393.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Finally, TD Cowen decreased their price objective on shares of Everest Group from $419.00 to $405.00 and set a “hold” rating for the company in a research report on Tuesday, August 13th. Four 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’s stock. According to MarketBeat, Everest Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $431.00.

Everest Group Price Performance

Shares of EG stock traded up $1.48 on Wednesday, reaching $389.61. 287,631 shares of the company were exchanged, compared to its average volume of 328,895. The company has a market cap of $16.93 billion, a price-to-earnings ratio of 5.79, a P/E/G ratio of 2.26 and a beta of 0.63. The business has a 50-day moving average price of $377.76 and a 200 day moving average price of $377.73. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.38 and a current ratio of 0.38. Everest Group, Ltd. has a 1 year low of $343.76 and a 1 year high of $417.92.

Everest Group (NYSE:EG) last released its earnings results on Wednesday, July 31st. The company reported $16.85 EPS for the quarter, missing analysts’ consensus estimates of $16.97 by ($0.12). The company had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.32 billion. Everest Group had a return on equity of 24.09% and a net margin of 18.36%. The firm’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same period in the prior year, the firm earned $15.21 EPS. Equities research analysts forecast that Everest Group, Ltd. will post 61.69 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Monday, September 16th will be paid a dividend of $2.00 per share. The ex-dividend date is Monday, September 16th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.05%. Everest Group’s dividend payout ratio is currently 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.