Bank of Stockton Has $554,000 Position in Everest Group, Ltd. (NYSE:EG)

Bank of Stockton reduced its holdings in Everest Group, Ltd. (NYSE:EG) by 12.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,413 shares of the company’s stock after selling 197 shares during the quarter. Bank of Stockton’s holdings in Everest Group were worth $554,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. American National Bank bought a new stake in shares of Everest Group during the second quarter worth $27,000. M&R Capital Management Inc. acquired a new position in shares of Everest Group during the 3rd quarter worth about $29,000. Bruce G. Allen Investments LLC grew its holdings in shares of Everest Group by 200.0% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 78 shares of the company’s stock valued at $31,000 after acquiring an additional 52 shares in the last quarter. Eastern Bank bought a new stake in Everest Group during the third quarter worth about $35,000. Finally, Massmutual Trust Co. FSB ADV grew its stake in Everest Group by 36.9% in the second quarter. Massmutual Trust Co. FSB ADV now owns 115 shares of the company’s stock valued at $44,000 after purchasing an additional 31 shares in the last quarter. Institutional investors and hedge funds own 92.64% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on EG. Keefe, Bruyette & Woods cut their price objective on Everest Group from $454.00 to $438.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Barclays began coverage on shares of Everest Group in a research note on Wednesday, September 4th. They set an “overweight” rating and a $527.00 price objective on the stock. UBS Group upgraded shares of Everest Group to a “hold” rating in a research note on Wednesday, October 9th. Morgan Stanley lowered their price target on Everest Group from $450.00 to $445.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 10th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $403.00 price objective on shares of Everest Group in a research report on Friday, August 30th. Five equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $439.27.

Everest Group Price Performance

Everest Group stock traded down $2.81 during mid-day trading on Friday, reaching $384.29. 49,687 shares of the company were exchanged, compared to its average volume of 340,797. The company has a fifty day simple moving average of $387.21 and a 200-day simple moving average of $380.49. The firm has a market cap of $16.55 billion, a PE ratio of 5.71, a PEG ratio of 2.71 and a beta of 0.61. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.38 and a quick ratio of 0.38. Everest Group, Ltd. has a 12 month low of $343.76 and a 12 month high of $417.92.

Everest Group (NYSE:EG) last released its 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). Everest Group had a return on equity of 24.09% and a net margin of 18.36%. The business had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.32 billion. During the same quarter in the previous year, the company earned $15.21 earnings per share. The firm’s revenue for the quarter was up 15.8% on a year-over-year basis. As a group, equities research analysts expect that Everest Group, Ltd. will post 60.97 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Monday, September 16th were given a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date was Monday, September 16th. Everest Group’s dividend payout ratio is presently 11.81%.

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.