Vest Financial LLC Acquires 1,278 Shares of Everest Group, Ltd. (NYSE:EG)

Vest Financial LLC lifted its holdings in shares of Everest Group, Ltd. (NYSE:EG) by 43.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 4,188 shares of the company’s stock after purchasing an additional 1,278 shares during the quarter. Vest Financial LLC’s holdings in Everest Group were worth $1,641,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in EG. American National Bank bought a new position in shares of Everest Group during the 2nd quarter worth approximately $27,000. M&R Capital Management Inc. bought a new position in shares of Everest Group during the 3rd quarter worth approximately $29,000. Bruce G. Allen Investments LLC boosted its stake in shares of Everest Group by 200.0% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 78 shares of the company’s stock worth $31,000 after acquiring an additional 52 shares during the period. Massmutual Trust Co. FSB ADV bought a new position in shares of Everest Group during the 1st quarter worth approximately $33,000. Finally, American National Bank & Trust boosted its stake in shares of Everest Group by 80.0% during the 3rd quarter. American National Bank & Trust now owns 126 shares of the company’s stock worth $49,000 after acquiring an additional 56 shares during the period. 92.64% of the stock is currently owned by institutional investors.

Everest Group Price Performance

Shares of NYSE EG opened at $384.23 on Monday. The stock has a market capitalization of $16.54 billion, a PE ratio of 5.67, a P/E/G ratio of 2.77 and a beta of 0.61. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.38 and a quick ratio of 0.38. The business has a fifty day moving average price of $385.67 and a two-hundred day moving average price of $380.37. Everest Group, Ltd. has a fifty-two week low of $343.76 and a fifty-two week high of $417.92.

Everest Group (NYSE:EG) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $16.85 EPS 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 business had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.32 billion. During the same period last year, the firm posted $15.21 EPS. Everest Group’s quarterly revenue was up 15.8% on a year-over-year basis. As a group, equities analysts predict that Everest Group, Ltd. will post 61.79 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Monday, September 16th were issued a dividend of $2.00 per share. The ex-dividend date was Monday, September 16th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.08%. Everest Group’s dividend payout ratio (DPR) is currently 11.81%.

Analysts Set New Price Targets

EG has been the subject of several research analyst reports. UBS Group upgraded Everest Group to a “hold” rating in a research note on Wednesday, October 9th. TD Cowen dropped their price target on Everest Group from $419.00 to $405.00 and set a “hold” rating for the company in a report on Tuesday, August 13th. Barclays initiated coverage on Everest Group in a report on Wednesday, September 4th. They set an “overweight” rating and a $527.00 price target for the company. Bank of America dropped their price target on Everest Group from $496.00 to $485.00 and set a “buy” rating for the company in a report on Thursday, October 10th. Finally, Jefferies Financial Group lifted their price target on Everest Group from $440.00 to $457.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Five research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Everest Group has an average rating of “Moderate Buy” and a consensus target price of $439.27.

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.