Applied Finance Capital Management LLC Makes New $359,000 Investment in Everest Group, Ltd. $EG

Key Points

• Applied Finance Capital Management LLC invested approximately $359,000 to acquire 1,055 shares in Everest Group, Ltd. during the second quarter.
• Everest Group reported a quarterly earnings per share (EPS) of $17.36, exceeding analyst estimates, with revenues up 6.2% compared to the previous year.
• The company announced a quarterly dividend of $2.00 per share, yielding 2.3% annually, with a payout ratio of 42.46%.

Applied Finance Capital Management LLC bought a new stake in Everest Group, Ltd. (NYSE:EG - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,055 shares of the company's stock, valued at approximately $359,000.

Several other institutional investors have also added to or reduced their stakes in EG. Assenagon Asset Management S.A. boosted its holdings in Everest Group by 6.1% in the first quarter. Assenagon Asset Management S.A. now owns 1,220 shares of the company's stock valued at $443,000 after acquiring an additional 70 shares during the last quarter. Exchange Traded Concepts LLC boosted its holdings in Everest Group by 3.9% in the first quarter. Exchange Traded Concepts LLC now owns 2,910 shares of the company's stock valued at $1,057,000 after acquiring an additional 109 shares during the last quarter. Sowell Financial Services LLC bought a new stake in Everest Group in the first quarter valued at approximately $231,000. State of Alaska Department of Revenue boosted its holdings in Everest Group by 1.9% in the first quarter. State of Alaska Department of Revenue now owns 6,924 shares of the company's stock valued at $2,515,000 after acquiring an additional 130 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in Everest Group by 54.6% in the first quarter. Blue Trust Inc. now owns 541 shares of the company's stock valued at $197,000 after acquiring an additional 191 shares during the last quarter. 92.64% of the stock is currently owned by institutional investors.

Everest Group Trading Up 2.5%

NYSE EG opened at $349.46 on Friday. The firm has a market capitalization of $14.66 billion, a P/E ratio of 18.55, a PEG ratio of 0.23 and a beta of 0.48. The business has a fifty day simple moving average of $343.85 and a 200 day simple moving average of $342.14. Everest Group, Ltd. has a 12 month low of $320.00 and a 12 month high of $392.78. 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 (NYSE:EG - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $17.36 EPS for the quarter, beating analysts' consensus estimates of $15.14 by $2.22. Everest Group had a return on equity of 5.89% and a net margin of 4.56%.The business had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.22 billion. During the same period in the prior year, the firm posted $16.85 EPS. Everest Group's quarterly revenue was up 6.2% compared to the same quarter last year. On average, analysts predict that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Wednesday, September 3rd were paid a dividend of $2.00 per share. The ex-dividend date was Wednesday, September 3rd. This represents a $8.00 annualized dividend and a dividend yield of 2.3%. Everest Group's dividend payout ratio is presently 42.46%.

Analyst Ratings Changes

Several brokerages recently commented on EG. UBS Group reduced their target price on Everest Group from $372.00 to $370.00 and set a "neutral" rating on the stock in a report on Wednesday, July 9th. Barclays increased their price target on Everest Group from $405.00 to $430.00 and gave the stock an "overweight" rating in a report on Wednesday, October 8th. Weiss Ratings restated a "hold (c)" rating on shares of Everest Group in a report on Wednesday, October 8th. Cantor Fitzgerald upgraded Everest Group to a "hold" rating in a report on Wednesday, August 13th. Finally, Keefe, Bruyette & Woods increased their price target on Everest Group from $405.00 to $416.00 and gave the stock an "outperform" rating in a report on Wednesday, August 6th. Five equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $382.79.

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.

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