DAVENPORT & Co LLC Sells 1,007 Shares of Everest Group, Ltd. $EG

DAVENPORT & Co LLC reduced its stake in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 4.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,867 shares of the company's stock after selling 1,007 shares during the quarter. DAVENPORT & Co LLC owned about 0.05% of Everest Group worth $7,432,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in EG. Merit Financial Group LLC bought a new stake in Everest Group during the first quarter worth approximately $512,000. Wedge Capital Management L L P NC increased its stake in Everest Group by 14.3% during the first quarter. Wedge Capital Management L L P NC now owns 9,871 shares of the company's stock worth $3,586,000 after acquiring an additional 1,235 shares during the last quarter. Farther Finance Advisors LLC increased its stake in Everest Group by 305.2% during the first quarter. Farther Finance Advisors LLC now owns 782 shares of the company's stock worth $286,000 after acquiring an additional 589 shares during the last quarter. Simplicity Wealth LLC bought a new stake in Everest Group during the first quarter worth approximately $226,000. Finally, SG Americas Securities LLC increased its stake in Everest Group by 127.3% during the first quarter. SG Americas Securities LLC now owns 5,842 shares of the company's stock worth $2,123,000 after acquiring an additional 3,272 shares during the last quarter. 92.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on EG shares. Wolfe Research raised Everest Group to a "strong sell" rating in a research note on Tuesday, September 16th. Raymond James Financial set a $375.00 target price on Everest Group and gave the company an "outperform" rating in a research note on Monday, September 22nd. Evercore ISI upped their target price on Everest Group from $380.00 to $384.00 and gave the company an "in-line" rating in a research note on Wednesday, October 1st. Barclays upped their target price on Everest Group from $394.00 to $398.00 and gave the company an "overweight" rating in a research note on Monday, July 7th. Finally, Wells Fargo & Company reaffirmed a "mixed" rating on shares of Everest Group in a research note on Monday, August 4th. Six equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $386.67.

Everest Group Stock Up 0.8%

Shares of NYSE:EG opened at $364.39 on Wednesday. Everest Group, Ltd. has a 52-week low of $320.00 and a 52-week high of $402.11. The stock has a market cap of $15.28 billion, a P/E ratio of 19.34, a price-to-earnings-growth ratio of 0.27 and a beta of 0.48. The business's 50 day moving average is $340.58 and its 200 day moving average is $342.72. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.24.

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

Everest Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Investors 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 2.2%. Everest Group's dividend payout ratio is 42.46%.

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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