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Arnhold LLC Has $19.31 Million Stake in Everest Group, Ltd. $EG

Everest Group logo with Finance background

Key Points

  • Arnhold LLC increased its stake in Everest Group, Ltd. by 5.0% in the second quarter, owning 56,811 shares valued at approximately $19.31 million as of its latest SEC filing.
  • Everest Group reported $17.36 earnings per share for the last quarter, surpassing analysts’ expectations of $15.14, with revenues of $4.49 billion, also exceeding estimates.
  • The company recently declared a quarterly dividend of $2.00 per share, translating to an annualized yield of 2.3% and a payout ratio of 42.46%.
  • MarketBeat previews top five stocks to own in November.

Arnhold LLC boosted its holdings in Everest Group, Ltd. (NYSE:EG - Free Report) by 5.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 56,811 shares of the company's stock after purchasing an additional 2,714 shares during the quarter. Everest Group comprises 1.8% of Arnhold LLC's holdings, making the stock its 16th largest holding. Arnhold LLC owned 0.13% of Everest Group worth $19,307,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SVB Wealth LLC acquired a new position in Everest Group during the 1st quarter worth approximately $30,000. Tsfg LLC bought a new stake in shares of Everest Group during the first quarter valued at approximately $33,000. Zions Bancorporation National Association UT acquired a new position in shares of Everest Group during the first quarter worth approximately $34,000. Board of the Pension Protection Fund acquired a new stake in Everest Group in the 2nd quarter valued at $34,000. Finally, WPG Advisers LLC bought a new stake in Everest Group during the 1st quarter valued at $37,000. 92.64% of the stock is owned by institutional investors.

Everest Group Stock Performance

Shares of EG opened at $349.46 on Friday. The stock's 50-day simple moving average is $343.85 and its 200 day simple moving average is $342.14. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.38 and a current ratio of 0.38. Everest Group, Ltd. has a 52-week low of $320.00 and a 52-week high of $392.78. The stock has a market capitalization of $14.66 billion, a price-to-earnings ratio of 18.55, a price-to-earnings-growth ratio of 0.23 and a beta of 0.48.

Everest Group (NYSE:EG - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $17.36 earnings per share for the quarter, beating analysts' consensus estimates of $15.14 by $2.22. The business had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $4.22 billion. Everest Group had a net margin of 4.56% and a return on equity of 5.89%. Everest Group's quarterly revenue was up 6.2% on a year-over-year basis. During the same period last year, the firm posted $16.85 earnings per share. Research analysts forecast that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on EG. Citigroup began coverage on Everest Group in a research note on Wednesday, August 13th. They set a "neutral" rating and a $362.00 price target for the company. Wells Fargo & Company lifted their target price on Everest Group from $371.00 to $383.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods increased their price target on Everest Group from $405.00 to $416.00 and gave the company an "outperform" rating in a research report on Wednesday, August 6th. Wolfe Research raised shares of Everest Group to a "strong sell" rating in a report on Tuesday, September 16th. Finally, Cantor Fitzgerald upgraded shares of Everest Group to a "hold" rating in a report on Wednesday, August 13th. Five investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Everest Group currently has an average rating of "Hold" and a consensus price target of $382.79.

Read Our Latest Stock Report on Everest Group

About Everest Group

(Free Report)

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.

Featured Stories

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Institutional Ownership by Quarter for Everest Group (NYSE:EG)

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