Sterling Capital Management LLC Purchases 2,227 Shares of Everest Group, Ltd. $EG

Sterling Capital Management LLC boosted its position in Everest Group, Ltd. (NYSE:EG) by 187.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,417 shares of the company’s stock after acquiring an additional 2,227 shares during the quarter. Sterling Capital Management LLC’s holdings in Everest Group were worth $1,248,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. Trifecta Capital Advisors LLC acquired a new position in shares of Everest Group during the second quarter worth $29,000. Root Financial Partners LLC raised its stake in Everest Group by 70.1% in the first quarter. Root Financial Partners LLC now owns 165 shares of the company’s stock valued at $54,000 after buying an additional 68 shares in the last quarter. USA Financial Formulas acquired a new stake in Everest Group in the third quarter valued at $77,000. Transamerica Financial Advisors LLC purchased a new stake in Everest Group during the 2nd quarter worth about $80,000. Finally, Fortitude Family Office LLC lifted its holdings in Everest Group by 718.5% during the 3rd quarter. Fortitude Family Office LLC now owns 221 shares of the company’s stock worth $81,000 after buying an additional 194 shares during the last quarter. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Analysts Set New Price Targets

EG has been the topic of a number of recent analyst reports. Evercore set a $377.00 price objective on Everest Group in a report on Thursday, July 30th. Royal Bank Of Canada initiated coverage on Everest Group in a report on Tuesday, September 22nd. They issued an “outperform” rating and a $455.00 price target for the company. Cantor Fitzgerald increased their price target on shares of Everest Group from $344.00 to $390.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Wells Fargo & Company increased their price target on shares of Everest Group from $373.00 to $396.00 and gave the company an “equal weight” rating in a research note on Friday, July 31st. Finally, Citigroup raised their price objective on shares of Everest Group from $395.00 to $415.00 and gave the stock a “neutral” rating in a report on Friday, July 31st. Six equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $407.94.

Everest Group Stock Down 0.3%

EG stock opened at $397.50 on Tuesday. The company has a market cap of $15.24 billion, a price-to-earnings ratio of 8.41, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26. The company has a fifty day moving average price of $376.08 and a 200 day moving average price of $351.87. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.35 and a quick ratio of 0.35. Everest Group, Ltd. has a 12 month low of $302.44 and a 12 month high of $409.82.

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

Everest Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Wednesday, September 9th were paid a dividend of $2.00 per share. The ex-dividend date was Wednesday, September 9th. This represents a $8.00 annualized dividend and a dividend yield of 2.0%. Everest Group’s dividend payout ratio is 16.92%.

Everest Group Company Profile

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.