Everest Group, Ltd. $EG Shares Purchased by Wealth Enhancement Advisory Services LLC

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in Everest Group, Ltd. by 91.7%, owning 8,733 shares valued at approximately $2.94 million after an additional purchase of 4,178 shares.
• The company's stock recently experienced a 1.3% increase, opening at $349.65 with a market capitalization of $14.66 billion.
• Everest Group reported earnings of $17.36 per share for the last quarter, exceeding estimates and showing a 6.2% revenue growth year-over-year.

Wealth Enhancement Advisory Services LLC boosted its stake in Everest Group, Ltd. (NYSE:EG - Free Report) by 91.7% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,733 shares of the company's stock after buying an additional 4,178 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Everest Group were worth $2,947,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. First Hawaiian Bank lifted its position in shares of Everest Group by 15.3% during the first quarter. First Hawaiian Bank now owns 1,605 shares of the company's stock worth $583,000 after purchasing an additional 213 shares during the last quarter. Versant Capital Management Inc grew its position in Everest Group by 82.9% in the first quarter. Versant Capital Management Inc now owns 439 shares of the company's stock worth $160,000 after buying an additional 199 shares during the last quarter. GAMMA Investing LLC grew its position in Everest Group by 31,899.6% during the 1st quarter. GAMMA Investing LLC now owns 174,398 shares of the company's stock worth $63,364,000 after purchasing an additional 173,853 shares in the last quarter. Somerset Trust Co grew its position in Everest Group by 38.0% during the 1st quarter. Somerset Trust Co now owns 785 shares of the company's stock worth $285,000 after purchasing an additional 216 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Everest Group by 8.3% during the 1st quarter. Rhumbline Advisers now owns 82,192 shares of the company's stock valued at $29,863,000 after buying an additional 6,295 shares during the period. 92.64% of the stock is currently owned by institutional investors and hedge funds.

Everest Group Stock Up 1.3%

Shares of EG opened at $349.65 on Friday. The company has a 50-day simple moving average of $337.62 and a 200-day simple moving average of $342.83. The firm has a market capitalization of $14.66 billion, a P/E ratio of 18.56, a P/E/G ratio of 0.26 and a beta of 0.51. 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 $407.30.

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

Everest Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Wednesday, September 3rd were given a $2.00 dividend. 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 payout ratio is presently 42.46%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Cantor Fitzgerald upgraded shares of Everest Group to a "hold" rating in a report on Wednesday, August 13th. UBS Group reduced their price target on shares of Everest Group from $372.00 to $370.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 9th. Raymond James Financial set a $375.00 target price on shares of Everest Group and gave the stock an "outperform" rating in a research report on Monday, September 22nd. Janney Montgomery Scott began coverage on shares of Everest Group in a research note on Friday, June 20th. They issued a "buy" rating and a $425.00 target price for the company. Finally, Wells Fargo & Company restated a "mixed" rating on shares of Everest Group in a report on Monday, August 4th. Six analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $387.47.

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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