Everest Group, Ltd. (NYSE:EG) Shares Bought by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. raised its stake in Everest Group, Ltd. (NYSE:EG) by 66.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,750 shares of the company’s stock after acquiring an additional 13,891 shares during the period. Royal London Asset Management Ltd. owned 0.08% of Everest Group worth $13,240,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of EG. Vanguard Group Inc. acquired a new position in Everest Group in the fourth quarter valued at approximately $1,886,055,000. Wellington Management Group LLP acquired a new position in Everest Group in the fourth quarter valued at approximately $751,457,000. Franklin Resources Inc. acquired a new position in Everest Group in the fourth quarter valued at approximately $373,130,000. Norges Bank acquired a new position in Everest Group in the fourth quarter valued at approximately $202,271,000. Finally, Dimensional Fund Advisors LP acquired a new position in Everest Group in the fourth quarter valued at approximately $173,587,000. 92.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on EG shares. Morgan Stanley decreased their target price 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. Keefe, Bruyette & Woods reduced their price objective on Everest Group from $454.00 to $438.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. TD Cowen reduced their price objective on Everest Group from $419.00 to $405.00 and set a “hold” rating for the company in a research report on Tuesday, August 13th. Wells Fargo & Company boosted their price objective on Everest Group from $392.00 to $393.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Finally, Barclays assumed coverage on Everest Group in a research report on Wednesday, September 4th. They set an “overweight” rating and a $527.00 price objective for the company. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $438.09.

Everest Group Stock Performance

EG opened at $379.10 on Friday. The company has a market capitalization of $16.47 billion, a price-to-earnings ratio of 5.63, a price-to-earnings-growth ratio of 2.50 and a beta of 0.62. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.38 and a quick ratio of 0.38. Everest Group, Ltd. has a 1-year low of $343.76 and a 1-year high of $417.92. The business has a 50 day moving average price of $380.19 and a two-hundred day moving average price of $379.11.

Everest Group (NYSE:EG) last released its 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). The firm had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.32 billion. Everest Group had a return on equity of 24.09% and a net margin of 18.36%. The business’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same quarter last year, the company earned $15.21 earnings per share. Research analysts predict that Everest Group, Ltd. will post 61.76 EPS for the current fiscal year.

Everest Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Monday, September 16th will be issued a $2.00 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $8.00 annualized dividend and a dividend yield of 2.11%. Everest Group’s dividend payout ratio is currently 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.