GAMMA Investing LLC Has $263,000 Position in Everest Group, Ltd. (NYSE:EG)

GAMMA Investing LLC lifted its stake in Everest Group, Ltd. (NYSE:EG) by 57.3% in the second quarter, HoldingsChannel.com reports. The firm owned 689 shares of the company’s stock after purchasing an additional 251 shares during the quarter. GAMMA Investing LLC’s holdings in Everest Group were worth $263,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Bright Futures Wealth Management LLC. acquired a new stake in shares of Everest Group in the first quarter valued at approximately $2,396,000. DekaBank Deutsche Girozentrale grew its holdings in Everest Group by 8.1% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 33,985 shares of the company’s stock worth $13,363,000 after acquiring an additional 2,546 shares during the period. Boston Partners grew its holdings in Everest Group by 29.1% during the 1st quarter. Boston Partners now owns 1,197,457 shares of the company’s stock worth $475,750,000 after acquiring an additional 269,665 shares during the period. Cetera Advisors LLC acquired a new stake in Everest Group during the 1st quarter worth $340,000. Finally, Cetera Investment Advisers grew its holdings in Everest Group by 39.3% during the 1st quarter. Cetera Investment Advisers now owns 4,879 shares of the company’s stock worth $1,940,000 after acquiring an additional 1,377 shares during the period. Institutional investors and hedge funds own 92.64% of the company’s stock.

Everest Group Stock Up 1.2 %

Shares of EG traded up $4.11 during midday trading on Tuesday, hitting $360.41. The stock had a trading volume of 157,034 shares, compared to its average volume of 334,096. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.36 and a quick ratio of 0.38. The firm has a market cap of $15.66 billion, a price-to-earnings ratio of 5.33, a price-to-earnings-growth ratio of 1.88 and a beta of 0.63. The company has a 50 day simple moving average of $379.97 and a two-hundred day simple moving average of $377.92. Everest Group, Ltd. has a twelve month low of $343.36 and a twelve month high of $417.92.

Everest Group (NYSE:EG) last released its quarterly earnings results on Wednesday, July 31st. The company reported $16.85 earnings per share for the quarter, missing analysts’ consensus estimates of $16.97 by ($0.12). Everest Group had a return on equity of 24.09% and a net margin of 18.36%. The firm had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.32 billion. During the same period last year, the company earned $15.21 EPS. The company’s revenue was up 15.8% compared to the same quarter last year. On average, analysts anticipate that Everest Group, Ltd. will post 61.66 EPS for the current year.

Everest Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Wednesday, May 29th were given a $2.00 dividend. The ex-dividend date was Wednesday, May 29th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.22%. This is an increase from Everest Group’s previous quarterly dividend of $1.75. Everest Group’s payout ratio is currently 11.89%.

Wall Street Analysts Forecast Growth

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

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.