Everest Group, Ltd. $EG Stock Acquired by Vest Financial LLC

Vest Financial LLC lifted its holdings in Everest Group, Ltd. (NYSE:EG) by 96.1% in the third quarter, HoldingsChannel reports. The firm owned 127,678 shares of the company’s stock after purchasing an additional 62,566 shares during the quarter. Vest Financial LLC’s holdings in Everest Group were worth $46,624,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of America Corp DE bought a new stake in shares of Everest Group in the 2nd quarter valued at approximately $108,102,000. William Blair Investment Management LLC bought a new stake in shares of Everest Group in the 2nd quarter worth about $171,426,000. The Manufacturers Life Insurance Company bought a new stake in shares of Everest Group in the 2nd quarter worth about $9,122,000. Polianta Ltd purchased a new position in shares of Everest Group during the 2nd quarter worth about $2,000,000. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Everest Group during the 2nd quarter worth about $5,351,000. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Everest Group Stock Up 0.4%

NYSE:EG opened at $394.84 on Thursday. Everest Group, Ltd. has a twelve month low of $302.44 and a twelve month high of $401.07. The company has a market cap of $15.14 billion, a price-to-earnings ratio of 8.35, a price-to-earnings-growth ratio of 0.58 and a beta of 0.26. The stock has a fifty day simple moving average of $374.35 and a 200-day simple moving average of $360.73. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.23.

Everest Group (NYSE:EG) last issued its earnings results on Tuesday, June 30th. The company reported $14.85 earnings per share (EPS) for the quarter. The firm had revenue of $3.96 billion during the quarter. Everest Group had a net margin of 11.41% and a return on equity of 13.63%. Analysts anticipate that Everest Group, Ltd. will post 53.69 EPS for the current year.

Everest Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Wednesday, September 9th were issued a dividend of $2.00 per share. The ex-dividend date was Wednesday, September 9th. This represents a $8.00 dividend on an annualized basis and a yield of 2.0%. Everest Group’s dividend payout ratio (DPR) is presently 16.92%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. UBS Group upped their price target on shares of Everest Group from $374.00 to $395.00 and gave the company a “neutral” rating in a report on Monday, August 3rd. Mizuho decreased their price objective on shares of Everest Group from $416.00 to $398.00 and set a “neutral” rating for the company in a research note on Wednesday, October 7th. Morgan Stanley boosted their target price on Everest Group from $355.00 to $360.00 and gave the company an “equal weight” rating in a research report on Monday, July 6th. TD Cowen upped their target price on Everest Group from $365.00 to $385.00 and gave the company a “hold” rating in a research note on Wednesday, August 19th. Finally, Rosenblatt Securities set a $455.00 price target on Everest Group in a report on Tuesday, September 22nd. Six research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $407.94.

About Everest Group

Everest Group, Ltd. is a global insurance and reinsurance company that provides property and casualty coverage to businesses, institutions, and other insurers. Its operations focus on assuming and managing risks through reinsurance, as well as offering insurance products in selected specialty and commercial markets.

The company’s reinsurance business supports insurers across lines such as property, casualty, specialty, and other risks. Through its insurance platform, Everest provides coverage for commercial customers and specialty exposures, including property, casualty, professional liability, and other products that may vary by market.