Johnson Investment Counsel Inc. Boosts Holdings in Everest Group, Ltd. (NYSE:EG)

Johnson Investment Counsel Inc. grew its position in shares of Everest Group, Ltd. (NYSE:EG) by 6.0% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 169,134 shares of the company’s stock after buying an additional 9,624 shares during the quarter. Johnson Investment Counsel Inc. owned 0.39% of Everest Group worth $64,444,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Intech Investment Management LLC purchased a new stake in shares of Everest Group in the fourth quarter valued at approximately $18,995,000. Dai ichi Life Insurance Company Ltd purchased a new stake in shares of Everest Group during the 4th quarter worth $1,271,000. Tower Research Capital LLC TRC acquired a new position in shares of Everest Group during the 4th quarter worth $2,372,000. Corient Private Wealth LLC purchased a new position in shares of Everest Group in the 4th quarter valued at about $7,139,000. Finally, Perpetual Ltd lifted its stake in shares of Everest Group by 92.0% in the first quarter. Perpetual Ltd now owns 4,724 shares of the company’s stock valued at $1,878,000 after purchasing an additional 2,264 shares during the period. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Everest Group Stock Down 1.2 %

Shares of NYSE:EG opened at $376.56 on Thursday. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $16.36 billion, a P/E ratio of 5.60, a P/E/G ratio of 2.50 and a beta of 0.62. Everest Group, Ltd. has a 52-week low of $343.76 and a 52-week high of $417.92. The stock’s fifty day simple moving average is $379.90 and its 200-day simple moving average is $379.11.

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 the consensus estimate of $16.97 by ($0.12). Everest Group had a net margin of 18.36% and a return on equity of 24.09%. The firm had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.32 billion. During the same period in the previous year, the firm posted $15.21 EPS. The company’s revenue for the quarter was up 15.8% compared to the same quarter last year. As a group, equities research analysts forecast that Everest Group, Ltd. will post 61.76 earnings per share for the current fiscal year.

Everest Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Monday, September 16th will be given 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 yield of 2.12%. Everest Group’s dividend payout ratio (DPR) is currently 11.89%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on EG shares. Keefe, Bruyette & Woods lowered their target price on shares of Everest Group from $454.00 to $438.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. TD Cowen lowered their price target on Everest Group from $419.00 to $405.00 and set a “hold” rating on the stock in a report on Tuesday, August 13th. Wells Fargo & Company lifted their price objective on Everest Group from $392.00 to $393.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Barclays began coverage on Everest Group in a research report on Wednesday, September 4th. They set an “overweight” rating and a $527.00 target price on the stock. Finally, Morgan Stanley dropped their price target on Everest Group from $450.00 to $445.00 and set an “overweight” rating for the company in a research report on Wednesday, July 10th. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $438.09.

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.