Cwm LLC Buys 8,448 Shares of Everest Group, Ltd. $EG

Cwm LLC increased its position in Everest Group, Ltd. (NYSE:EG) by 18.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 55,247 shares of the company’s stock after acquiring an additional 8,448 shares during the period. Cwm LLC owned about 0.13% of Everest Group worth $18,776,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in EG. Vanguard Group Inc. lifted its position in Everest Group by 0.3% during the first quarter. Vanguard Group Inc. now owns 5,577,376 shares of the company’s stock valued at $2,026,428,000 after purchasing an additional 17,346 shares during the last quarter. Vulcan Value Partners LLC increased its position in shares of Everest Group by 35.8% in the 1st quarter. Vulcan Value Partners LLC now owns 1,328,732 shares of the company’s stock valued at $482,832,000 after acquiring an additional 350,019 shares during the period. Boston Partners grew its holdings in Everest Group by 3.3% during the first quarter. Boston Partners now owns 696,765 shares of the company’s stock worth $253,150,000 after acquiring an additional 22,432 shares during the period. Altrinsic Global Advisors LLC raised its stake in shares of Everest Group by 10.7% during the 1st quarter. Altrinsic Global Advisors LLC now owns 682,979 shares of the company’s stock worth $248,147,000 after buying an additional 66,041 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its stake in Everest Group by 11.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 552,972 shares of the company’s stock worth $200,911,000 after purchasing an additional 56,410 shares during the last quarter. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Everest Group Price Performance

NYSE:EG opened at $346.99 on Monday. Everest Group, Ltd. has a 52-week low of $320.00 and a 52-week high of $401.82. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.38 and a current ratio of 0.38. The company has a market cap of $14.55 billion, a P/E ratio of 18.42, a P/E/G ratio of 0.24 and a beta of 0.48. The stock’s 50-day simple moving average is $341.74 and its 200 day simple moving average is $342.34.

Everest Group (NYSE:EG) last released its quarterly earnings results on Wednesday, July 30th. The company reported $17.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $15.14 by $2.22. Everest Group had a return on equity of 5.89% and a net margin of 4.56%.The business had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.22 billion. During the same period in the previous year, the company posted $16.85 EPS. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. As a group, sell-side analysts forecast that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Wednesday, September 3rd were issued a dividend of $2.00 per share. The ex-dividend date of this dividend was Wednesday, September 3rd. This represents a $8.00 annualized dividend and a dividend yield of 2.3%. Everest Group’s dividend payout ratio (DPR) is 42.46%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Cantor Fitzgerald raised shares of Everest Group to a “hold” rating in a research note on Wednesday, August 13th. Evercore ISI lifted their target price on shares of Everest Group from $380.00 to $384.00 and gave the company an “in-line” rating in a report on Wednesday, October 1st. Raymond James Financial set a $375.00 price objective on Everest Group and gave the stock an “outperform” rating in a research report on Monday, September 22nd. UBS Group dropped their target price on shares of Everest Group from $372.00 to $370.00 and set a “neutral” rating for the company in a research report on Wednesday, July 9th. Finally, Wolfe Research upgraded Everest Group to a “strong sell” rating in a research note on Tuesday, September 16th. Five investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Everest Group has a consensus rating of “Hold” and a consensus target price of $382.79.

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.