AustralianSuper Pty Ltd Takes Position in Everest Group, Ltd. (NYSE:EG)

AustralianSuper Pty Ltd bought a new position in shares of Everest Group, Ltd. (NYSE:EG) during the third quarter, Holdings Channel reports. The fund bought 18,316 shares of the company’s stock, valued at approximately $7,177,000.

Several other institutional investors and hedge funds have also bought and sold shares of EG. SG Americas Securities LLC raised its position in shares of Everest Group by 284.8% during the 3rd quarter. SG Americas Securities LLC now owns 24,556 shares of the company’s stock valued at $9,622,000 after buying an additional 18,175 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Everest Group by 163.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,772 shares of the company’s stock valued at $1,897,000 after purchasing an additional 2,964 shares in the last quarter. Whittier Trust Co. bought a new stake in Everest Group during the first quarter worth about $1,505,000. Clearbridge Investments LLC boosted its holdings in shares of Everest Group by 1.5% in the 1st quarter. Clearbridge Investments LLC now owns 289,439 shares of the company’s stock worth $115,052,000 after purchasing an additional 4,412 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. purchased a new position in shares of Everest Group in the 2nd quarter worth about $921,000. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Everest Group Stock Down 6.4 %

Shares of Everest Group stock opened at $355.59 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. Everest Group, Ltd. has a 12-month low of $343.76 and a 12-month high of $417.92. The company has a market cap of $15.31 billion, a P/E ratio of 5.56, a PEG ratio of 2.67 and a beta of 0.61. The company’s fifty day simple moving average is $387.38 and its two-hundred day simple moving average is $380.81.

Everest Group (NYSE:EG) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $16.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $16.97 by ($0.12). Everest Group had a net margin of 16.99% and a return on equity of 23.13%. The company had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.32 billion. During the same quarter in the prior year, the firm earned $15.21 EPS. Everest Group’s quarterly revenue was up 15.8% compared to the same quarter last year. Research analysts anticipate that Everest Group, Ltd. will post 60.97 EPS for the current year.

Everest Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Monday, September 16th were given a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 2.25%. The ex-dividend date was Monday, September 16th. Everest Group’s dividend payout ratio is currently 12.52%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on EG. UBS Group raised Everest Group to a “hold” rating in a research note on Wednesday, October 9th. Wells Fargo & Company increased their target price on shares of Everest Group from $393.00 to $406.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Bank of America decreased their target price on shares of Everest Group from $496.00 to $485.00 and set a “buy” rating on the stock in a research report on Thursday, October 10th. Barclays cut their price target on shares of Everest Group from $527.00 to $517.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, TD Cowen reduced their price objective on Everest Group from $419.00 to $405.00 and set a “hold” rating on the stock in a research note on Tuesday, August 13th. Five research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Everest Group has an average rating of “Moderate Buy” and an average target price of $438.36.

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.