Boston Partners Lowers Stake in Everest Group, Ltd. (NYSE:EG)

Boston Partners lowered its stake in shares of Everest Group, Ltd. (NYSE:EG) by 50.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 674,333 shares of the company’s stock after selling 698,318 shares during the period. Boston Partners owned approximately 1.57% of Everest Group worth $244,420,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Janney Montgomery Scott LLC boosted its position in shares of Everest Group by 152.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 22,693 shares of the company’s stock worth $8,225,000 after purchasing an additional 13,687 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Everest Group by 19.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 78,469 shares of the company’s stock worth $30,747,000 after purchasing an additional 12,791 shares during the period. Brophy Wealth Management LLC purchased a new position in Everest Group in the 3rd quarter valued at approximately $749,000. Intech Investment Management LLC boosted its position in Everest Group by 13.1% in the 3rd quarter. Intech Investment Management LLC now owns 27,324 shares of the company’s stock valued at $10,706,000 after buying an additional 3,166 shares during the period. Finally, Principal Financial Group Inc. boosted its position in Everest Group by 5.5% in the 3rd quarter. Principal Financial Group Inc. now owns 53,892 shares of the company’s stock valued at $21,117,000 after buying an additional 2,818 shares during the period. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Everest Group Price Performance

Shares of EG opened at $359.54 on Wednesday. Everest Group, Ltd. has a twelve month low of $327.37 and a twelve month high of $407.30. The firm’s fifty day simple moving average is $351.40 and its 200-day simple moving average is $367.89. The firm has a market capitalization of $15.44 billion, a price-to-earnings ratio of 11.45, a PEG ratio of 0.24 and a beta of 0.61. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.26.

Everest Group (NYSE:EG) last announced its quarterly earnings results on Monday, February 3rd. The company reported ($18.39) EPS for the quarter, missing the consensus estimate of $11.64 by ($30.03). Everest Group had a return on equity of 9.04% and a net margin of 7.95%. Equities analysts forecast that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 17th will be paid a dividend of $2.00 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $8.00 annualized dividend and a yield of 2.23%. Everest Group’s dividend payout ratio is currently 25.47%.

Wall Street Analyst Weigh In

Several brokerages have commented on EG. Wells Fargo & Company decreased their price target on shares of Everest Group from $390.00 to $380.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Jefferies Financial Group cut shares of Everest Group from a “buy” rating to a “hold” rating and raised their price target for the company from $420.00 to $429.00 in a research report on Tuesday, November 26th. Keefe, Bruyette & Woods raised their price target on shares of Everest Group from $420.00 to $434.00 and gave the company an “outperform” rating in a research report on Friday, January 10th. Morgan Stanley reissued an “equal weight” rating and issued a $340.00 price target (down previously from $425.00) on shares of Everest Group in a research report on Wednesday, February 5th. Finally, Barclays raised their price objective on shares of Everest Group from $461.00 to $470.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Everest Group presently has a consensus rating of “Hold” and a consensus price target of $416.50.

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.