Sequoia Financial Advisors LLC Buys 1,709 Shares of Everest Group, Ltd. $EG

Sequoia Financial Advisors LLC raised its stake in shares of Everest Group, Ltd. (NYSE:EG) by 64.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,380 shares of the company’s stock after buying an additional 1,709 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Everest Group were worth $1,564,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. National Pension Service lifted its holdings in shares of Everest Group by 83.2% in the second quarter. National Pension Service now owns 9,007 shares of the company’s stock worth $3,218,000 after buying an additional 4,090 shares in the last quarter. Engineers Gate Manager LP purchased a new position in Everest Group during the second quarter valued at approximately $859,000. Integrated Wealth Concepts LLC increased its holdings in Everest Group by 4.1% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 12,901 shares of the company’s stock worth $4,609,000 after acquiring an additional 506 shares during the period. NewEdge Advisors LLC increased its holdings in Everest Group by 201.9% during the 2nd quarter. NewEdge Advisors LLC now owns 1,117 shares of the company’s stock worth $399,000 after acquiring an additional 747 shares during the period. Finally, Baird Financial Group Inc. lifted its stake in Everest Group by 2.6% in the 2nd quarter. Baird Financial Group Inc. now owns 1,317 shares of the company’s stock worth $470,000 after purchasing an additional 33 shares in the last quarter. 92.64% of the stock is currently owned by institutional investors.

Everest Group Price Performance

EG stock opened at $379.72 on Wednesday. The firm has a 50 day simple moving average of $374.89 and a two-hundred day simple moving average of $351.88. The stock has a market cap of $14.56 billion, a PE ratio of 8.03, a P/E/G ratio of 0.75 and a beta of 0.28. Everest Group, Ltd. has a one year low of $302.44 and a one year high of $401.07. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.35 and a quick ratio of 0.35.

Everest Group (NYSE:EG) last posted its quarterly earnings data on Tuesday, June 30th. The company reported $14.85 earnings per share for the quarter. Everest Group had a net margin of 11.41% and a return on equity of 13.63%. The firm had revenue of $3.96 billion for the quarter. On average, analysts predict that Everest Group, Ltd. will post 53.2 EPS for the current fiscal year.

Everest Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Wednesday, September 9th will be paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Wednesday, September 9th. Everest Group’s dividend payout ratio is currently 16.92%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on EG shares. TD Cowen raised their price target on shares of Everest Group from $365.00 to $385.00 and gave the company a “hold” rating in a report on Wednesday, August 19th. Atlantic Securities set a $484.00 price target on shares of Everest Group in a report on Wednesday, July 15th. Morgan Stanley increased their price objective on Everest Group from $355.00 to $360.00 and gave the stock an “equal weight” rating in a research report on Monday, July 6th. Wells Fargo & Company boosted their target price on Everest Group from $373.00 to $396.00 and gave the stock an “equal weight” rating in a research report on Friday, July 31st. Finally, Cantor Fitzgerald raised their price target on Everest Group from $344.00 to $390.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Four analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat, Everest Group presently has an average rating of “Hold” and a consensus price target of $403.00.

Everest Group Company Profile

Everest Group, Ltd. (NYSE: EG) is a global insurance and reinsurance company headquartered in Hamilton, Bermuda. Through its operating subsidiaries, the company provides property and casualty insurance and reinsurance products to businesses, insurers and other institutional clients.

Everest’s reinsurance operations cover a range of property, casualty and specialty risks, while its insurance business offers commercial coverage in areas such as property, casualty, specialty, marine, accident and health.