Everest Group, Ltd. $EG Shares Sold by Johnson Investment Counsel Inc.

Key Points

• Johnson Investment Counsel Inc. has reduced its holdings in Everest Group, Ltd. by 0.5%, owning 189,702 shares valued at approximately $64.47 million after selling 944 shares in the second quarter.
• Analysts have set new price targets for Everest Group, with Keefe, Bruyette & Woods raising their target from $405 to $416, while the consensus rating remains at "Hold" with an average target of $382.79.
• Everest Group recently declared a quarterly dividend of $2.00 per share, representing an annualized yield of 2.3% and a payout ratio of 42.46%.

Johnson Investment Counsel Inc. decreased its holdings in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 0.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 189,702 shares of the company's stock after selling 944 shares during the quarter. Johnson Investment Counsel Inc. owned about 0.45% of Everest Group worth $64,470,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Truist Financial Corp grew its stake in shares of Everest Group by 16.9% in the first quarter. Truist Financial Corp now owns 108,596 shares of the company's stock valued at $39,456,000 after buying an additional 15,660 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of Everest Group by 18.1% in the first quarter. Fifth Third Bancorp now owns 1,151 shares of the company's stock valued at $418,000 after buying an additional 176 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Everest Group by 12.2% in the first quarter. Envestnet Asset Management Inc. now owns 172,718 shares of the company's stock valued at $62,753,000 after buying an additional 18,780 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of Everest Group by 127.3% in the first quarter. SG Americas Securities LLC now owns 5,842 shares of the company's stock valued at $2,123,000 after buying an additional 3,272 shares in the last quarter. Finally, Sowell Financial Services LLC acquired a new stake in shares of Everest Group in the first quarter valued at $231,000. 92.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on EG. Keefe, Bruyette & Woods lifted their price objective on Everest Group from $405.00 to $416.00 and gave the company an "outperform" rating in a research note on Wednesday, August 6th. Evercore ISI lifted their price objective 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. Wolfe Research upgraded Everest Group to a "strong sell" rating in a report 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 report on Monday, September 22nd. Finally, Citigroup initiated coverage on Everest Group in a report on Wednesday, August 13th. They issued a "neutral" rating and a $362.00 target price for the company. 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 stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $382.79.

Everest Group Stock Down 1.4%

Shares of NYSE EG opened at $346.99 on Friday. The company has a market capitalization of $14.55 billion, a price-to-earnings ratio of 18.42, a price-to-earnings-growth ratio of 0.25 and a beta of 0.48. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.38 and a quick ratio of 0.38. The business has a 50-day moving average of $341.74 and a two-hundred day moving average of $342.52. Everest Group, Ltd. has a 1 year low of $320.00 and a 1 year high of $401.82.

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

Everest Group Dividend Announcement

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