Everest Group, Ltd. $EG Stock: Perpetual Ltd Reduces Position

Key Points

• Perpetual Ltd. reduced its Everest Group stake by 7.2% in the third quarter, selling 9,724 shares and retaining 126,218 shares valued at approximately $46.1 million. Institutional investors and hedge funds collectively own 92.64% of the company.
• Everest Group shares opened at $372.52, up 1.1%, with a market capitalization of $14.28 billion and a price-to-earnings ratio of 7.88. The company reported quarterly revenue of $3.96 billion and earnings per share of $14.85.
• The company declared a quarterly dividend of $2.00, equivalent to an annualized $8.00 payout and a 2.1% yield. Analysts maintain a consensus “Hold” rating, with an average price target of $407.94.

Perpetual Ltd reduced its holdings in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 7.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 126,218 shares of the company's stock after selling 9,724 shares during the period. Perpetual Ltd owned approximately 0.33% of Everest Group worth $46,091,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in EG. CX Institutional raised its stake in Everest Group by 5.7% in the third quarter. CX Institutional now owns 596 shares of the company's stock valued at $218,000 after buying an additional 32 shares during the last quarter. Baird Financial Group Inc. grew its stake in shares of Everest Group by 2.6% during the second quarter. Baird Financial Group Inc. now owns 1,317 shares of the company's stock worth $470,000 after acquiring an additional 33 shares during the last quarter. MBA Advisors LLC grew its stake in shares of Everest Group by 5.4% during the second quarter. MBA Advisors LLC now owns 666 shares of the company's stock worth $238,000 after acquiring an additional 34 shares during the last quarter. V Square Quantitative Management LLC grew its stake in shares of Everest Group by 4.0% during the first quarter. V Square Quantitative Management LLC now owns 968 shares of the company's stock worth $316,000 after acquiring an additional 37 shares during the last quarter. Finally, Tred Avon Family Wealth LLC increased its holdings in shares of Everest Group by 6.5% during the first quarter. Tred Avon Family Wealth LLC now owns 657 shares of the company's stock valued at $215,000 after acquiring an additional 40 shares in the last quarter. 92.64% of the stock is owned by institutional investors and hedge funds.

Everest Group Stock Up 1.1%

Shares of EG stock opened at $372.52 on Tuesday. The stock's 50-day simple moving average is $372.08 and its 200-day simple moving average is $357.69. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.35 and a current ratio of 0.35. The firm has a market capitalization of $14.28 billion, a PE ratio of 7.88, a P/E/G ratio of 0.55 and a beta of 0.26. Everest Group, Ltd. has a fifty-two week low of $302.44 and a fifty-two week high of $401.07.

Everest Group (NYSE:EG - Get Free Report) last announced its quarterly earnings data on Tuesday, June 30th. The company reported $14.85 earnings per share (EPS) for the quarter. Everest Group had a return on equity of 13.63% and a net margin of 11.41%. The firm had revenue of $3.96 billion during the quarter. Equities analysts expect that Everest Group, Ltd. will post 54.49 earnings per share for the current year.

Everest Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Wednesday, September 9th were issued a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 2.1%. The ex-dividend date was Wednesday, September 9th. Everest Group's dividend payout ratio is 16.92%.

Analyst Ratings Changes

Several equities analysts recently commented on EG shares. Barclays increased their price objective on shares of Everest Group from $420.00 to $430.00 and gave the company an "overweight" rating in a research report on Thursday, July 30th. Royal Bank Of Canada initiated coverage on shares of Everest Group in a research report on Tuesday, September 22nd. They set an "outperform" rating and a $455.00 target price on the stock. Rosenblatt Securities set a $455.00 target price on shares of Everest Group in a research report on Tuesday, September 22nd. Cantor Fitzgerald upped their price target on shares of Everest Group from $344.00 to $390.00 and gave the company a "neutral" rating in a research note on Thursday, July 9th. Finally, Wells Fargo & Company raised their price target on shares of Everest Group from $373.00 to $396.00 and gave the stock an "equal weight" rating in a report on Friday, July 31st. Five analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $407.94.

About Everest Group

Everest Group, Ltd. is a global specialty insurance and reinsurance company headquartered in Hamilton, Bermuda. The company provides risk-management and underwriting solutions to businesses, institutions, and insurance companies through its insurance and reinsurance operations.

Everest's products and services include property and casualty insurance, specialty insurance, and reinsurance coverage. Its offerings address a range of risks, including property, casualty, workers' compensation, professional liability, marine, aviation, accident and health, and other specialty exposures.

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