QRG Capital Management Inc. Raises Stock Position in Everest Group, Ltd. (NYSE:EG)

QRG Capital Management Inc. grew its holdings in Everest Group, Ltd. (NYSE:EG) by 4.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 38,029 shares of the company’s stock after buying an additional 1,618 shares during the period. QRG Capital Management Inc. owned approximately 0.09% of Everest Group worth $14,490,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in EG. Vanguard Group Inc. purchased a new position in shares of Everest Group in the 4th quarter worth $1,886,055,000. Wellington Management Group LLP purchased a new position in shares of Everest Group during the 4th quarter worth about $751,457,000. Franklin Resources Inc. purchased a new position in shares of Everest Group during the 4th quarter worth about $373,130,000. Boston Partners purchased a new position in shares of Everest Group during the 4th quarter worth about $328,064,000. Finally, Norges Bank purchased a new position in shares of Everest Group during the 4th quarter worth about $202,271,000. 92.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Bank of America lifted their price target on shares of Everest Group from $470.00 to $493.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. BMO Capital Markets boosted their price objective on shares of Everest Group from $387.00 to $403.00 and gave the company a “market perform” rating in a research report on Wednesday. Morgan Stanley lowered their price objective on shares of Everest Group from $450.00 to $445.00 and set an “overweight” rating for the company in a research report on Wednesday, July 10th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Everest Group from $454.00 to $438.00 and set an “outperform” rating for the company in a research report on Thursday. Four investment 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $432.82.

Everest Group Stock Up 0.1 %

Shares of NYSE EG traded up $0.30 during trading hours on Friday, hitting $364.50. 280,668 shares of the stock were exchanged, compared to its average volume of 394,678. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.24. The company has a market cap of $15.77 billion, a PE ratio of 5.42, a PEG ratio of 2.16 and a beta of 0.63. The firm has a fifty day moving average price of $377.92 and a 200-day moving average price of $377.55. Everest Group, Ltd. has a 12 month low of $343.36 and a 12 month high of $417.92.

Everest Group (NYSE:EG) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $16.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $16.97 by ($0.12). Everest Group had a net margin of 18.36% and a return on equity of 24.09%. The company had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.32 billion. During the same quarter in the previous year, the company posted $15.21 EPS. The company’s revenue for the quarter was up 15.8% compared to the same quarter last year. On average, sell-side analysts expect that Everest Group, Ltd. will post 61.6 EPS for the current year.

Everest Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Monday, September 16th will be issued a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 2.19%. The ex-dividend date is Monday, September 16th. Everest Group’s dividend payout ratio (DPR) is currently 11.89%.

About Everest Group

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.