Everest Group, Ltd. $EG Shares Newly Purchased by Counterpoint Mutual Funds LLC

Key Points

• Counterpoint Mutual Funds LLC purchased 25,402 Everest Group shares worth approximately $9.3 million, joining other institutional investors that adjusted their positions. Institutions collectively own 92.64% of the company.
• Analyst sentiment remains mixed: five analysts rate Everest Group a Buy and eleven rate it a Hold, producing a consensus Hold rating and an average price target of $407.94.
• Everest Group shares opened at $388.47, up 1.9%, while the company reported $14.85 in quarterly EPS on $3.96 billion in revenue and maintains a quarterly dividend of $2.00, yielding about 2.1% annually.

Counterpoint Mutual Funds LLC acquired a new stake in Everest Group, Ltd. (NYSE:EG - Free Report) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 25,402 shares of the company's stock, valued at approximately $9,276,000. Counterpoint Mutual Funds LLC owned approximately 0.07% of Everest Group at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. USA Financial Formulas bought a new position in shares of Everest Group in the 3rd quarter valued at $77,000. TD Waterhouse Canada Inc. lifted its holdings in Everest Group by 427.7% in the third quarter. TD Waterhouse Canada Inc. now owns 343 shares of the company's stock valued at $127,000 after buying an additional 278 shares during the period. V Square Quantitative Management LLC grew its stake in Everest Group by 11.7% during the third quarter. V Square Quantitative Management LLC now owns 1,108 shares of the company's stock worth $405,000 after purchasing an additional 116 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of Everest Group in the 3rd quarter valued at $1,859,000. Finally, Mather Group LLC. raised its holdings in shares of Everest Group by 74.8% during the third quarter. Mather Group LLC. now owns 741 shares of the company's stock valued at $271,000 after purchasing an additional 317 shares during the period. 92.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on EG. Weiss Ratings reiterated a "hold (c+)" rating on shares of Everest Group in a research note on Tuesday, October 6th. Atlantic Securities set a $484.00 price target on Everest Group in a research note on Wednesday, July 15th. Royal Bank Of Canada initiated coverage on shares of Everest Group in a research note on Tuesday, September 22nd. They issued an "outperform" rating and a $455.00 target price for the company. Keefe, Bruyette & Woods cut their price objective on shares of Everest Group from $414.00 to $407.00 and set an "outperform" rating for the company in a report on Monday, October 12th. Finally, Citigroup increased their target price on Everest Group from $395.00 to $415.00 and gave the stock a "neutral" rating in a research report on Friday, July 31st. Five analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $407.94.

Everest Group Stock Up 1.9%

EG stock opened at $388.47 on Friday. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.23. Everest Group, Ltd. has a 1-year low of $302.44 and a 1-year high of $401.07. The stock has a market cap of $14.89 billion, a price-to-earnings ratio of 8.21, a price-to-earnings-growth ratio of 0.58 and a beta of 0.26. The company's 50 day moving average is $372.75 and its 200 day moving average is $359.07.

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

Everest Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Wednesday, September 9th were issued a $2.00 dividend. The ex-dividend date was Wednesday, September 9th. This represents a $8.00 annualized dividend and a yield of 2.1%. Everest Group's dividend payout ratio (DPR) is 16.92%.

Everest Group Company Profile

Everest Group, Ltd. is a global specialty insurance and reinsurance company headquartered in Hamilton, Bermuda. The company provides risk-management and underwriting solutions to businesses, institutions, and insurance companies through its insurance and reinsurance operations.

Everest's products and services include property and casualty insurance, specialty insurance, and reinsurance coverage. Its offerings address a range of risks, including property, casualty, workers' compensation, professional liability, marine, aviation, accident and health, and other specialty exposures.

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