DoubleLine ETF Adviser LP Lowers Position in Everest Group, Ltd. (NYSE:EG)

DoubleLine ETF Adviser LP decreased its holdings in shares of Everest Group, Ltd. (NYSE:EG) by 3.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 716 shares of the company’s stock after selling 29 shares during the quarter. DoubleLine ETF Adviser LP’s holdings in Everest Group were worth $273,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of EG. American National Bank bought a new position in shares of Everest Group in the 2nd quarter worth $27,000. Massmutual Trust Co. FSB ADV purchased a new stake in Everest Group during the first quarter valued at about $33,000. FinTrust Capital Advisors LLC bought a new stake in Everest Group during the fourth quarter worth about $33,000. Hollencrest Capital Management boosted its holdings in shares of Everest Group by 575.0% in the 1st quarter. Hollencrest Capital Management now owns 135 shares of the company’s stock worth $54,000 after purchasing an additional 115 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. bought a new position in shares of Everest Group during the 1st quarter valued at about $61,000. 92.64% of the stock is currently owned by institutional investors.

Everest Group Trading Up 1.3 %

EG opened at $387.78 on Friday. Everest Group, Ltd. has a one year low of $343.76 and a one year high of $417.92. 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 50 day simple moving average of $380.74 and a two-hundred day simple moving average of $380.37. The firm has a market capitalization of $16.70 billion, a price-to-earnings ratio of 5.76, a PEG ratio of 2.69 and a beta of 0.62.

Everest Group (NYSE:EG) last announced 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). The business had revenue of $4.23 billion during the quarter, compared to analysts’ expectations 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 was up 15.8% compared to the same quarter last year. During the same period in the previous year, the business earned $15.21 EPS. Analysts predict that Everest Group, Ltd. will post 61.66 EPS for the current year.

Everest Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Monday, September 16th will be given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend is Monday, September 16th. Everest Group’s dividend payout ratio is currently 11.89%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on EG shares. Wells Fargo & Company upped their target price on Everest Group from $392.00 to $393.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. Bank of America increased their target price on shares of Everest Group from $470.00 to $493.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Morgan Stanley lowered their price target on shares of Everest Group from $450.00 to $445.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. BMO Capital Markets reaffirmed a “market perform” rating and set a $403.00 price objective on shares of Everest Group in a research note on Friday, August 30th. Finally, Keefe, Bruyette & Woods lowered their target price on Everest Group from $454.00 to $438.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. 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 data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $438.09.

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.