CANADA LIFE ASSURANCE Co Has $15.04 Million Stock Holdings in Everest Group, Ltd. (NYSE:EG)

CANADA LIFE ASSURANCE Co reduced its position in shares of Everest Group, Ltd. (NYSE:EG) by 6.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 37,793 shares of the company’s stock after selling 2,411 shares during the period. CANADA LIFE ASSURANCE Co’s holdings in Everest Group were worth $15,037,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on EG. Keefe, Bruyette & Woods cut their price objective on shares of Everest Group from $457.00 to $454.00 and set an “outperform” rating on the stock in a report on Friday, July 12th. Morgan Stanley decreased their price objective on Everest Group from $450.00 to $445.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. Bank of America increased their target price on Everest Group from $470.00 to $493.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Finally, Wells Fargo & Company reduced their target price on Everest Group from $402.00 to $397.00 and set an “equal weight” rating on the stock in a report on Thursday, April 11th. Three research 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 company. 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 Down 2.0 %

NYSE EG traded down $7.66 on Thursday, reaching $373.88. The company had a trading volume of 205,677 shares, compared to its average volume of 325,679. The company’s fifty day moving average is $382.44 and its 200-day moving average is $377.51. Everest Group, Ltd. has a 1-year low of $343.36 and a 1-year high of $417.92. The firm has a market capitalization of $16.25 billion, a price-to-earnings ratio of 5.66, a price-to-earnings-growth ratio of 1.99 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.

Everest Group (NYSE:EG) last posted its quarterly earnings data on Monday, April 29th. The company reported $16.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $15.98 by $0.34. The business 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%. Everest Group’s quarterly revenue was up 25.8% on a year-over-year basis. During the same period last year, the company earned $11.31 earnings per share. On average, research analysts forecast that Everest Group, Ltd. will post 61.25 earnings per share for the current fiscal year.

Everest Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Wednesday, May 29th were given a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend was Wednesday, May 29th. This is a positive change from Everest Group’s previous quarterly dividend of $1.75. Everest Group’s payout ratio is currently 11.89%.

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.