General American Investors Co. Inc. Has $51.32 Million Stock Position in Everest Group, Ltd. (NYSE:EG)

General American Investors Co. Inc. lifted its stake in shares of Everest Group, Ltd. (NYSE:EG) by 4.2% during the second quarter, HoldingsChannel.com reports. The fund owned 134,686 shares of the company’s stock after buying an additional 5,490 shares during the quarter. Everest Group makes up approximately 3.6% of General American Investors Co. Inc.’s investment portfolio, making the stock its 10th biggest holding. General American Investors Co. Inc.’s holdings in Everest Group were worth $51,318,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. American National Bank bought a new stake in Everest Group during the 2nd quarter valued at $27,000. Heritage Wealth Advisors purchased a new position in Everest Group in the fourth quarter valued at about $30,000. FinTrust Capital Advisors LLC bought a new position in Everest Group in the fourth quarter worth about $33,000. Massmutual Trust Co. FSB ADV purchased a new stake in shares of Everest Group during the first quarter valued at about $33,000. Finally, Benjamin F. Edwards & Company Inc. bought a new stake in shares of Everest Group in the 4th quarter valued at about $35,000. Institutional investors own 92.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on EG. Morgan Stanley dropped their price objective on shares of Everest Group from $450.00 to $445.00 and set an “overweight” rating on the stock in a report on Wednesday, July 10th. Keefe, Bruyette & Woods reduced their price target 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. Bank of America raised their price target on shares of Everest Group from $470.00 to $493.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. BMO Capital Markets reissued a “market perform” rating and issued a $403.00 price target on shares of Everest Group in a report on Friday, August 30th. Finally, Barclays initiated coverage on shares of Everest Group in a report on Wednesday. They set an “overweight” rating and a $527.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $439.00.

Everest Group Stock Performance

EG opened at $383.39 on Friday. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.24. The firm’s 50-day moving average price is $379.26 and its 200 day moving average price is $378.74. Everest Group, Ltd. has a twelve month low of $343.76 and a twelve month high of $417.92. The firm has a market capitalization of $16.66 billion, a PE ratio of 5.70, a PEG ratio of 2.56 and a beta of 0.62.

Everest Group (NYSE:EG) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $16.85 earnings per share for the quarter, missing the consensus estimate of $16.97 by ($0.12). The firm had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.32 billion. Everest Group had a net margin of 18.36% and a return on equity of 24.09%. The business’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period last year, the company earned $15.21 EPS. As a group, sell-side analysts expect that Everest Group, Ltd. will post 61.76 EPS for the current fiscal year.

Everest Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Monday, September 16th will be given a $2.00 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $8.00 dividend on an annualized basis and a yield of 2.09%. Everest Group’s dividend payout ratio is currently 11.89%.

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.