Foster & Motley Inc. Sells 953 Shares of Everest Group, Ltd. (NYSE:EG)

Foster & Motley Inc. decreased its holdings in Everest Group, Ltd. (NYSE:EG) by 7.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,773 shares of the company’s stock after selling 953 shares during the quarter. Foster & Motley Inc.’s holdings in Everest Group were worth $4,486,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Truist Financial Corp purchased a new position in Everest Group during the fourth quarter worth about $450,000. Retirement Systems of Alabama purchased a new position in shares of Everest Group in the 4th quarter worth about $3,382,000. Benjamin F. Edwards & Company Inc. purchased a new stake in Everest Group during the fourth quarter worth about $35,000. M&T Bank Corp bought a new stake in Everest Group in the fourth quarter worth about $1,123,000. Finally, National Bank of Canada FI purchased a new position in Everest Group in the fourth quarter valued at about $3,080,000. 92.64% of the stock is owned by institutional investors.

Everest Group Price Performance

NYSE EG traded down $5.29 during trading on Thursday, reaching $387.21. The company’s stock had a trading volume of 18,029 shares, compared to its average volume of 327,551. The stock has a market capitalization of $16.83 billion, a PE ratio of 5.83, a P/E/G ratio of 2.56 and a beta of 0.62. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.38 and a quick ratio of 0.38. The firm has a fifty day moving average of $379.03 and a 200 day moving average of $378.56. Everest Group, Ltd. has a one year low of $343.76 and a one year high of $417.92.

Everest Group (NYSE:EG) last announced its earnings results on Wednesday, July 31st. The company reported $16.85 earnings per share for the quarter, missing analysts’ consensus estimates of $16.97 by ($0.12). Everest Group had a net margin of 18.36% and a return on equity of 24.09%. The company had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.32 billion. During the same period in the prior year, the business earned $15.21 earnings per share. The company’s revenue for the quarter was up 15.8% compared to the same quarter last year. Analysts expect that Everest Group, Ltd. will post 61.76 EPS for the current fiscal year.

Everest Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Monday, September 16th will be issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date is Monday, September 16th. Everest Group’s dividend payout ratio is currently 11.89%.

Analyst Ratings Changes

EG has been the topic of a number of research reports. Morgan Stanley lowered 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. Barclays initiated coverage on Everest Group in a research report on Wednesday. They set an “overweight” rating and a $527.00 price target on the stock. Bank of America lifted 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. TD Cowen lowered their price objective on Everest Group from $419.00 to $405.00 and set a “hold” rating on the stock in a research note on Tuesday, August 13th. Finally, Wells Fargo & Company increased their target price 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. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $439.00.

About Everest Group

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.