Everest Group, Ltd. (NYSE:EG) Position Increased by Intech Investment Management LLC

Intech Investment Management LLC raised its position in shares of Everest Group, Ltd. (NYSE:EG) by 2.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,158 shares of the company’s stock after buying an additional 562 shares during the quarter. Intech Investment Management LLC’s holdings in Everest Group were worth $9,205,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of EG. American National Bank purchased a new stake in Everest Group during the second quarter valued at about $27,000. Heritage Wealth Advisors purchased a new stake in Everest Group during the fourth quarter valued at about $30,000. FinTrust Capital Advisors LLC purchased a new stake in Everest Group during the fourth quarter valued at about $33,000. Massmutual Trust Co. FSB ADV purchased a new stake in Everest Group during the first quarter valued at about $33,000. Finally, Hollencrest Capital Management lifted its stake in Everest Group by 575.0% during the first quarter. Hollencrest Capital Management now owns 135 shares of the company’s stock valued at $54,000 after buying an additional 115 shares in the last quarter. 92.64% of the stock is owned by hedge funds and other institutional investors.

Everest Group Trading Down 0.2 %

NYSE:EG opened at $387.50 on Friday. The stock’s 50 day moving average price is $381.70 and its 200 day moving average price is $379.89. Everest Group, Ltd. has a 52 week low of $343.76 and a 52 week high of $417.92. The company has a market capitalization of $16.77 billion, a P/E ratio of 5.76, a P/E/G ratio of 2.71 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.

Everest Group (NYSE:EG) last released its quarterly earnings data 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 firm had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.32 billion. During the same quarter in the prior year, the company posted $15.21 EPS. The company’s quarterly revenue was up 15.8% on a year-over-year basis. On average, research analysts forecast that Everest Group, Ltd. will post 61.66 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 dividend of $2.00 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $8.00 annualized dividend and a yield of 2.06%. Everest Group’s dividend payout ratio (DPR) is presently 11.89%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Wells Fargo & Company upped their price objective 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. BMO Capital Markets reiterated a “market perform” rating and issued a $403.00 target price on shares of Everest Group in a report on Friday, August 30th. Bank of America upped their target price on Everest Group from $470.00 to $493.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Morgan Stanley dropped their target price on Everest Group from $450.00 to $445.00 and set an “overweight” rating on the stock in a report on Wednesday, July 10th. Finally, Barclays initiated coverage on Everest Group in a report on Wednesday, September 4th. They issued an “overweight” rating and a $527.00 target price on the stock. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.