Everest Group, Ltd. $EG Stock Position Lowered by Perigon Wealth Management LLC

Key Points

• Perigon Wealth Management LLC reduced its stake in Everest Group, Ltd. by 39.9% in Q2, following the sale of 819 shares, bringing their total holdings to 1,235 shares, valued at approximately $420,000.
• Everest Group's recent quarterly earnings showed $17.36 earnings per share, significantly surpassing analysts' expectations of $15.14, with revenues reaching $4.49 billion.
• The company announced a quarterly dividend of $2.00 per share, resulting in an annualized dividend of $8.00 and a yield of 2.3%.

Perigon Wealth Management LLC lessened its position in Everest Group, Ltd. (NYSE:EG - Free Report) by 39.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,235 shares of the company's stock after selling 819 shares during the period. Perigon Wealth Management LLC's holdings in Everest Group were worth $420,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Everest Group by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 5,577,376 shares of the company's stock worth $2,026,428,000 after buying an additional 17,346 shares in the last quarter. Vulcan Value Partners LLC raised its stake in shares of Everest Group by 35.8% in the 1st quarter. Vulcan Value Partners LLC now owns 1,328,732 shares of the company's stock worth $482,832,000 after buying an additional 350,019 shares in the last quarter. Boston Partners raised its stake in shares of Everest Group by 3.3% in the 1st quarter. Boston Partners now owns 696,765 shares of the company's stock worth $253,150,000 after buying an additional 22,432 shares in the last quarter. Altrinsic Global Advisors LLC raised its stake in shares of Everest Group by 10.7% in the 1st quarter. Altrinsic Global Advisors LLC now owns 682,979 shares of the company's stock worth $248,147,000 after buying an additional 66,041 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Everest Group by 11.4% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 552,972 shares of the company's stock worth $200,911,000 after buying an additional 56,410 shares in the last quarter. Institutional investors own 92.64% of the company's stock.

Everest Group Stock Down 0.8%

NYSE:EG opened at $346.29 on Tuesday. The firm has a market capitalization of $14.52 billion, a price-to-earnings ratio of 18.38, a PEG ratio of 0.26 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. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.24. The business's fifty day moving average price is $337.94 and its 200 day moving average price is $342.69.

Everest Group (NYSE:EG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $17.36 earnings per share for the quarter, beating the consensus estimate of $15.14 by $2.22. The firm had revenue of $4.49 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the firm earned $16.85 earnings per share. On average, sell-side analysts forecast that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Wednesday, September 3rd were paid a $2.00 dividend. The ex-dividend date was Wednesday, September 3rd. This represents a $8.00 dividend on an annualized basis and a yield of 2.3%. Everest Group's payout ratio is 42.46%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Cantor Fitzgerald raised Everest Group to a "hold" rating in a research note on Wednesday, August 13th. Citigroup assumed coverage on Everest Group in a research report on Wednesday, August 13th. They set a "neutral" rating and a $362.00 target price on the stock. Raymond James Financial set a $375.00 target price on Everest Group and gave the stock an "outperform" rating in a research report on Monday, September 22nd. Wolfe Research raised Everest Group to a "strong sell" rating in a research report on Tuesday, September 16th. Finally, Janney Montgomery Scott assumed coverage on Everest Group in a research report on Friday, June 20th. They set a "buy" rating and a $425.00 target price on the stock. Six research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $387.47.

Everest Group 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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