Sacks & Associates LLC Makes New Investment in Everest Group, Ltd. $EG

Sacks & Associates LLC acquired a new position in shares of Everest Group, Ltd. (NYSE:EG) in the 3rd quarter, HoldingsChannel reports. The fund acquired 2,103 shares of the company’s stock, valued at approximately $768,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. acquired a new position in Everest Group during the 2nd quarter worth $1,150,555,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of Everest Group in the second quarter valued at about $350,718,000. Balyasny Asset Management L.P. increased its stake in shares of Everest Group by 181.2% in the fourth quarter. Balyasny Asset Management L.P. now owns 498,697 shares of the company’s stock worth $169,233,000 after purchasing an additional 321,376 shares during the period. William Blair Investment Management LLC bought a new position in shares of Everest Group in the second quarter worth about $171,426,000. Finally, Hsbc Holdings PLC lifted its position in shares of Everest Group by 507.4% during the 1st quarter. Hsbc Holdings PLC now owns 449,919 shares of the company’s stock worth $147,102,000 after purchasing an additional 375,846 shares during the last quarter. 92.64% of the stock is currently owned by institutional investors and hedge funds.

Everest Group Trading Down 1.3%

Shares of EG stock opened at $368.29 on Friday. The company has a market capitalization of $14.12 billion, a P/E ratio of 7.79, a P/E/G ratio of 0.56 and a beta of 0.26. Everest Group, Ltd. has a 12-month low of $302.44 and a 12-month high of $401.07. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.23. The firm has a 50-day moving average price of $372.06 and a 200 day moving average price of $357.12.

Everest Group (NYSE:EG) last issued its quarterly earnings data on Tuesday, June 30th. The company reported $14.85 earnings per share for the quarter. The firm had revenue of $3.96 billion for the quarter. Everest Group had a net margin of 11.41% and a return on equity of 13.63%. Research analysts forecast that Everest Group, Ltd. will post 53.82 earnings per share for the current fiscal year.

Everest Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Wednesday, September 9th were given a dividend of $2.00 per share. The ex-dividend date was Wednesday, September 9th. This represents a $8.00 dividend on an annualized basis and a yield of 2.2%. Everest Group’s dividend payout ratio is 16.92%.

Wall Street Analyst Weigh In

Several analysts have issued reports on EG shares. TD Cowen raised their price target on shares of Everest Group from $365.00 to $385.00 and gave the stock a “hold” rating in a research report on Wednesday, August 19th. Wells Fargo & Company increased their target price on shares of Everest Group from $373.00 to $396.00 and gave the company an “equal weight” rating in a research note on Friday, July 31st. Morgan Stanley boosted their price target on Everest Group from $355.00 to $360.00 and gave the company an “equal weight” rating in a research note on Monday, July 6th. Atlantic Securities set a $484.00 price target on Everest Group in a report on Wednesday, July 15th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Everest Group in a research report on Tuesday. Five analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $408.38.

About Everest Group

Everest Group, Ltd. is a global specialty insurance and reinsurance company headquartered in Hamilton, Bermuda. The company provides risk-management and underwriting solutions to businesses, institutions, and insurance companies through its insurance and reinsurance operations.

Everest’s products and services include property and casualty insurance, specialty insurance, and reinsurance coverage. Its offerings address a range of risks, including property, casualty, workers’ compensation, professional liability, marine, aviation, accident and health, and other specialty exposures.