Cookson Peirce & Co. Inc. Makes New $854,000 Investment in Everest Group, Ltd. $EG

Key Points

• Cookson Peirce & Co. Inc. made a new investment of approximately $854,000 in Everest Group, acquiring 2,513 shares during the second quarter.
• Everest Group recently declared a $2.00 quarterly dividend, which represents an annualized dividend of $8.00 and a yield of 2.3%.
• Analysts have mixed ratings for Everest Group, with five rating it a Buy, ten a Hold, and one a Sell, with a current consensus price target of $382.79.

Cookson Peirce & Co. Inc. purchased a new position in shares of Everest Group, Ltd. (NYSE:EG - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,513 shares of the company's stock, valued at approximately $854,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Flagship Harbor Advisors LLC grew its holdings in shares of Everest Group by 3.7% during the first quarter. Flagship Harbor Advisors LLC now owns 843 shares of the company's stock worth $306,000 after buying an additional 30 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. grew its stake in Everest Group by 3.0% during the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 1,025 shares of the company's stock worth $372,000 after buying an additional 30 shares during the period. Legacy Advisors LLC grew its stake in Everest Group by 5.5% during the first quarter. Legacy Advisors LLC now owns 599 shares of the company's stock worth $218,000 after buying an additional 31 shares during the period. Farther Finance Advisors LLC lifted its position in shares of Everest Group by 4.3% during the second quarter. Farther Finance Advisors LLC now owns 816 shares of the company's stock worth $277,000 after purchasing an additional 34 shares in the last quarter. Finally, Vontobel Holding Ltd. lifted its position in shares of Everest Group by 2.1% during the first quarter. Vontobel Holding Ltd. now owns 1,781 shares of the company's stock worth $647,000 after purchasing an additional 36 shares in the last quarter. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on EG. Wells Fargo & Company upped their price target on shares of Everest Group from $371.00 to $383.00 and gave the company an "equal weight" rating in a report on Wednesday, October 8th. UBS Group cut their price target on shares of Everest Group from $372.00 to $370.00 and set a "neutral" rating on the stock in a report on Wednesday, July 9th. Wolfe Research raised shares of Everest Group to a "strong sell" rating in a report on Tuesday, September 16th. Keefe, Bruyette & Woods upped their price target on shares of Everest Group from $405.00 to $416.00 and gave the company an "outperform" rating in a report on Wednesday, August 6th. Finally, Evercore ISI boosted their target price on shares of Everest Group from $380.00 to $384.00 and gave the company an "in-line" rating in a research note on Wednesday, October 1st. 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, the stock currently has an average rating of "Hold" and a consensus target price of $382.79.

Everest Group Stock Down 0.2%

EG stock opened at $348.54 on Thursday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.38 and a quick ratio of 0.38. Everest Group, Ltd. has a 1-year low of $320.00 and a 1-year high of $392.78. The firm has a fifty day moving average price of $344.91 and a two-hundred day moving average price of $342.03. The firm has a market cap of $14.62 billion, a price-to-earnings ratio of 18.50, a PEG ratio of 0.24 and a beta of 0.48.

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

Everest Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Wednesday, September 3rd were given 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 currently 42.46%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.