Everest Group, Ltd. $EG Shares Sold by LS Investment Advisors LLC

Key Points

• LS Investment Advisors LLC reduced its stake in Everest Group by 9.8%, owning 21,286 shares worth approximately $7.23 million after selling 2,306 shares.
• Everest Group reported $17.36 EPS for the latest quarter, exceeding analysts' estimates of $15.14, with a revenue of $4.49 billion, up 6.2% year-over-year.
• The company declared a quarterly dividend of $2.00 per share, representing a 2.3% dividend yield and an annualized payout of $8.00.

LS Investment Advisors LLC trimmed its position in Everest Group, Ltd. (NYSE:EG - Free Report) by 9.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,286 shares of the company's stock after selling 2,306 shares during the period. LS Investment Advisors LLC owned 0.05% of Everest Group worth $7,234,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in EG. Sunbelt Securities Inc. acquired a new position in shares of Everest Group in the 4th quarter valued at $29,000. SVB Wealth LLC acquired a new position in shares of Everest Group in the 1st quarter valued at $30,000. Tsfg LLC acquired a new position in shares of Everest Group in the 1st quarter valued at $33,000. Zions Bancorporation National Association UT acquired a new position in shares of Everest Group in the 1st quarter valued at $34,000. Finally, WPG Advisers LLC acquired a new position in shares of Everest Group in the 1st quarter valued at $37,000. 92.64% of the stock is owned by institutional investors and hedge funds.

Everest Group Price Performance

NYSE:EG opened at $345.13 on Friday. Everest Group, Ltd. has a 52 week low of $320.00 and a 52 week high of $407.30. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $14.47 billion, a PE ratio of 18.32, a price-to-earnings-growth ratio of 0.26 and a beta of 0.51. The stock's 50-day moving average price is $337.28 and its 200-day moving average price is $342.89.

Everest Group (NYSE:EG - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $17.36 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $4.22 billion. During the same period last year, the firm earned $16.85 EPS. The company's quarterly revenue was up 6.2% on a year-over-year basis. As a group, equities analysts expect that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Wednesday, September 3rd were given 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 42.46%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on EG shares. Janney Montgomery Scott started coverage on Everest Group in a research report on Friday, June 20th. They set a "buy" rating and a $425.00 price target on the stock. Wolfe Research raised Everest Group to a "strong sell" rating in a research report on Tuesday, September 16th. Barclays increased their price target on Everest Group from $394.00 to $398.00 and gave the stock an "overweight" rating in a research report on Monday, July 7th. UBS Group cut their price target on Everest Group from $372.00 to $370.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 9th. Finally, Wells Fargo & Company reaffirmed a "mixed" rating on shares of Everest Group in a research report on Monday, August 4th. Six analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Everest Group has a consensus rating of "Hold" and an average 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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