BNP PARIBAS ASSET MANAGEMENT Holding S.A. Buys 9,485 Shares of Everest Group, Ltd. (NYSE:EG)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of Everest Group, Ltd. (NYSE:EG) by 8.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 125,689 shares of the company’s stock after buying an additional 9,485 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned 0.24% of Everest Group worth $49,961,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in EG. Intech Investment Management LLC acquired a new stake in shares of Everest Group in the fourth quarter valued at about $18,995,000. Dai ichi Life Insurance Company Ltd acquired a new stake in Everest Group during the fourth quarter worth about $1,271,000. Tower Research Capital LLC TRC acquired a new position in Everest Group during the fourth quarter valued at approximately $2,372,000. Corient Private Wealth LLC bought a new position in Everest Group in the fourth quarter valued at about $7,139,000. Finally, Perpetual Ltd boosted its stake in shares of Everest Group by 92.0% during 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 in the last quarter. Institutional investors and hedge funds own 92.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Bank of America boosted their price target on Everest Group from $470.00 to $493.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Wells Fargo & Company dropped their price target on Everest Group from $402.00 to $397.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 11th. Keefe, Bruyette & Woods dropped their price target on Everest Group from $457.00 to $454.00 and set an “outperform” rating on the stock in a research note on Friday, July 12th. Finally, Morgan Stanley dropped their price target on Everest Group from $450.00 to $445.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 10th. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Everest Group currently has an average rating of “Moderate Buy” and an average price target of $437.40.

Everest Group Stock Performance

NYSE:EG traded up $5.93 during trading on Thursday, reaching $404.01. The company’s stock had a trading volume of 25,976 shares, compared to its average volume of 323,310. The firm has a market cap of $17.56 billion, a price-to-earnings ratio of 5.92, a price-to-earnings-growth ratio of 2.04 and a beta of 0.63. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.38 and a current ratio of 0.38. The firm has a 50 day moving average of $381.60 and a 200-day moving average of $376.65. Everest Group, Ltd. has a 12 month low of $343.36 and a 12 month high of $417.92.

Everest Group (NYSE:EG) last announced its quarterly earnings data on Monday, April 29th. The company reported $16.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $15.98 by $0.34. The firm had revenue of $4.13 billion during the quarter, compared to the consensus estimate of $4.05 billion. Everest Group had a return on equity of 24.86% and a net margin of 18.69%. The business’s revenue for the quarter was up 25.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $11.31 EPS. Research analysts expect that Everest Group, Ltd. will post 61.33 EPS for the current fiscal year.

Everest Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Wednesday, May 29th were paid a dividend of $2.00 per share. This is an increase from Everest Group’s previous quarterly dividend of $1.75. The ex-dividend date of this dividend was Wednesday, May 29th. This represents a $8.00 annualized dividend and a dividend yield of 1.98%. Everest Group’s dividend payout ratio is presently 11.89%.

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.