Philadelphia Financial Management of San Francisco LLC Decreases Position in Everest Group, Ltd. $EG

Key Points

• Philadelphia Financial Management of San Francisco LLC reduced its stake in Everest Group, Ltd. by 31.5%, resulting in ownership of 42,199 shares valued at approximately $15.3 million.
• Everest Group has received mixed ratings from analysts, with a consensus target price of $397.14 and various ratings ranging from "Strong Buy" to "Hold."
• The company announced a quarterly dividend of $2.00, reflecting an annualized payout of $8.00 at a yield of 2.4%, with a record date of September 3rd.

Philadelphia Financial Management of San Francisco LLC reduced its position in Everest Group, Ltd. (NYSE:EG - Free Report) by 31.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 42,199 shares of the company's stock after selling 19,401 shares during the quarter. Everest Group comprises approximately 3.0% of Philadelphia Financial Management of San Francisco LLC's portfolio, making the stock its 11th biggest position. Philadelphia Financial Management of San Francisco LLC owned approximately 0.10% of Everest Group worth $15,332,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Sunbelt Securities Inc. acquired a new position in Everest Group in the fourth quarter valued at $29,000. SVB Wealth LLC acquired a new stake in shares of Everest Group during the first quarter worth about $30,000. Tsfg LLC purchased a new position in shares of Everest Group during the first quarter worth about $33,000. Zions Bancorporation National Association UT acquired a new position in Everest Group in the 1st quarter valued at about $34,000. Finally, WPG Advisers LLC acquired a new position in Everest Group in the 1st quarter valued at about $37,000. Institutional investors and hedge funds own 92.64% of the company's stock.

Everest Group Price Performance

EG traded up $4.85 during trading on Thursday, reaching $344.88. 104,153 shares of the stock were exchanged, compared to its average volume of 392,393. The business's 50 day moving average price is $336.64 and its two-hundred day moving average price is $343.91. 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 company has a market capitalization of $14.46 billion, a price-to-earnings ratio of 18.30, a P/E/G ratio of 0.25 and a beta of 0.51. Everest Group, Ltd. has a 1 year low of $320.00 and a 1 year high of $407.30.

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, topping analysts' consensus estimates of $15.14 by $2.22. The company had revenue of $4.49 billion for 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 quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the business earned $16.85 earnings per share. As a group, equities research analysts anticipate that Everest Group, Ltd. will post 47.93 earnings per share for the current year.

Everest Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Wednesday, September 3rd will be given 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 is Wednesday, September 3rd. Everest Group's payout ratio is presently 42.46%.

Wall Street Analyst Weigh In

EG has been the topic of several analyst reports. Janney Montgomery Scott initiated coverage on Everest Group in a research note on Friday, June 20th. They issued a "buy" rating and a $425.00 target price on the stock. Morgan Stanley increased their price target on Everest Group from $330.00 to $350.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. UBS Group dropped their price objective on shares of Everest Group from $372.00 to $370.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 9th. Barclays upped their price objective on shares of Everest Group from $394.00 to $398.00 and gave the stock an "overweight" rating in a research report on Monday, July 7th. Finally, Cantor Fitzgerald raised shares of Everest Group to a "hold" rating in a report on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $397.14.

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.