American Century Companies Inc. Buys 17,850 Shares of Everest Group, Ltd. (NYSE:EG)

American Century Companies Inc. lifted its stake in shares of Everest Group, Ltd. (NYSE:EG) by 19.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 110,303 shares of the company’s stock after acquiring an additional 17,850 shares during the period. American Century Companies Inc. owned approximately 0.25% of Everest Group worth $42,028,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in EG. Envestnet Portfolio Solutions Inc. acquired a new stake in Everest Group in the 4th quarter valued at approximately $228,000. Principal Financial Group Inc. acquired a new position in Everest Group during the fourth quarter worth $18,717,000. Avantax Advisory Services Inc. bought a new position in Everest Group in the fourth quarter valued at $247,000. Janney Montgomery Scott LLC bought a new position in Everest Group in the fourth quarter valued at $4,097,000. Finally, Quadrant Capital Group LLC acquired a new stake in Everest Group in the 4th quarter valued at $72,000. 92.64% of the stock is currently owned by institutional investors and hedge funds.

Everest Group Stock Performance

NYSE EG opened at $389.43 on Tuesday. The stock has a market cap of $16.85 billion, a PE ratio of 5.79, a P/E/G ratio of 2.64 and a beta of 0.62. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.38 and a current ratio of 0.38. The firm has a 50-day moving average of $380.58 and a 200-day moving average of $379.36. Everest Group, Ltd. has a 52-week low of $343.76 and a 52-week high of $417.92.

Everest Group (NYSE:EG) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $16.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $16.97 by ($0.12). The company had revenue of $4.23 billion for 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 company’s revenue was up 15.8% on a year-over-year basis. During the same quarter last year, the business earned $15.21 earnings per share. On average, sell-side analysts anticipate that Everest Group, Ltd. will post 61.66 EPS for the current year.

Everest Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Monday, September 16th will be issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend is Monday, September 16th. Everest Group’s dividend payout ratio is currently 11.89%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. BMO Capital Markets restated a “market perform” rating and set a $403.00 price objective on shares of Everest Group in a research note on Friday, August 30th. Bank of America upped their price objective on Everest Group from $470.00 to $493.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Wells Fargo & Company raised their target price on shares of Everest Group from $392.00 to $393.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Keefe, Bruyette & Woods dropped their price target on shares of Everest Group from $454.00 to $438.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, TD Cowen cut their price target on shares of Everest Group from $419.00 to $405.00 and set a “hold” rating for the company in a research note on Tuesday, August 13th. Four 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 MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $438.09.

Everest Group Company 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.