Everest Group, Ltd. $EG Shares Sold by Equitable Trust Co.

Key Points

• Equitable Trust Co. has reduced its holdings in Everest Group, Ltd. by 10.1%, now owning approximately 0.11% of the company worth $15,599,000 after selling 5,130 shares.
• Everest Group recently announced strong quarterly earnings with $17.36 EPS, exceeding estimates and reflecting a 6.2% year-over-year revenue increase to $4.49 billion.
• The company declared a quarterly dividend of $2.00 per share, translating to an annualized basis of $8.00, with a dividend yield of 2.3%.

Equitable Trust Co. reduced its position in Everest Group, Ltd. (NYSE:EG - Free Report) by 10.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,899 shares of the company's stock after selling 5,130 shares during the period. Equitable Trust Co. owned approximately 0.11% of Everest Group worth $15,599,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of EG. TD Asset Management Inc raised its holdings in shares of Everest Group by 9.0% during the 2nd quarter. TD Asset Management Inc now owns 49,634 shares of the company's stock valued at $16,868,000 after buying an additional 4,093 shares during the period. NorthRock Partners LLC acquired a new stake in Everest Group in the second quarter valued at approximately $248,000. Verdence Capital Advisors LLC grew its position in Everest Group by 17.3% in the second quarter. Verdence Capital Advisors LLC now owns 1,849 shares of the company's stock valued at $628,000 after acquiring an additional 273 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new position in shares of Everest Group in the second quarter valued at $676,000. Finally, CWM LLC grew its position in shares of Everest Group by 18.1% during the second quarter. CWM LLC now owns 55,247 shares of the company's stock worth $18,776,000 after buying an additional 8,448 shares in the last quarter. Institutional investors and hedge funds own 92.64% of the company's stock.

Everest Group Stock Performance

Shares of Everest Group stock opened at $350.77 on Tuesday. The business has a fifty day simple moving average of $342.23 and a 200-day simple moving average of $342.27. The stock has a market cap of $14.71 billion, a PE ratio of 18.62, a price-to-earnings-growth ratio of 0.24 and a beta of 0.48. 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, Ltd. has a 12 month low of $320.00 and a 12 month high of $401.82.

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 firm had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.22 billion. During the same period in the prior year, the business earned $16.85 EPS. The business's revenue for the quarter was up 6.2% on a year-over-year basis. On average, sell-side analysts anticipate that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Announces Dividend

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

Analyst Ratings Changes

A number of research firms have commented on EG. Citigroup began coverage on shares of Everest Group in a research note on Wednesday, August 13th. They set a "neutral" rating and a $362.00 price objective on the stock. Evercore ISI lifted their target price on Everest Group from $380.00 to $384.00 and gave the stock an "in-line" rating in a research report on Wednesday, October 1st. Wells Fargo & Company raised their price target on Everest Group from $371.00 to $383.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 8th. Janney Montgomery Scott began coverage on Everest Group in a report on Friday, June 20th. They issued a "buy" rating and a $425.00 price target on the stock. Finally, Cowen restated a "hold" rating on shares of Everest Group in a research report on Tuesday, October 7th. Five investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Everest Group has a consensus rating of "Hold" and an average target price of $382.79.

About Everest Group

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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