Jacobs Levy Equity Management Inc. Has $40.32 Million Stock Holdings in Everest Group, Ltd. $EG

Key Points

• Jacobs Levy Equity Management Inc. increased its stake in Everest Group, Ltd. by 34.3%, acquiring a total of 110,983 shares valued at approximately $40.32 million as of the most recent SEC filing.
• The company's quarterly earnings report showed an EPS of $17.36, surpassing estimates of $15.14, while revenues grew 6.2% year-over-year to $4.49 billion.
• Everest Group announced a quarterly dividend of $2.00 to be paid on September 19th, offering an annualized yield of 2.4%.

Jacobs Levy Equity Management Inc. grew its position in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 34.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 110,983 shares of the company's stock after acquiring an additional 28,366 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 0.26% of Everest Group worth $40,323,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of EG. Ameriprise Financial Inc. boosted its holdings in shares of Everest Group by 4.6% during the fourth quarter. Ameriprise Financial Inc. now owns 255,365 shares of the company's stock valued at $92,555,000 after acquiring an additional 11,122 shares during the period. Captrust Financial Advisors lifted its holdings in Everest Group by 11.3% in the fourth quarter. Captrust Financial Advisors now owns 2,588 shares of the company's stock worth $938,000 after purchasing an additional 262 shares during the period. Colonial Trust Co SC lifted its holdings in Everest Group by 141.7% in the fourth quarter. Colonial Trust Co SC now owns 597 shares of the company's stock worth $216,000 after purchasing an additional 350 shares during the period. Deutsche Bank AG lifted its holdings in Everest Group by 28.4% in the fourth quarter. Deutsche Bank AG now owns 232,730 shares of the company's stock worth $84,355,000 after purchasing an additional 51,492 shares during the period. Finally, D. E. Shaw & Co. Inc. acquired a new stake in Everest Group in the fourth quarter worth about $5,093,000. Institutional investors and hedge funds own 92.64% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on EG. UBS Group cut their price target on shares of Everest Group from $372.00 to $370.00 and set a "neutral" rating for the company in a report on Wednesday, July 9th. Citigroup began coverage on shares of Everest Group in a report on Wednesday, August 13th. They issued a "neutral" rating and a $362.00 price target for the company. Janney Montgomery Scott began coverage on shares of Everest Group in a report on Friday, June 20th. They issued a "buy" rating and a $425.00 price target for the company. Barclays upped their price target on shares of Everest Group from $394.00 to $398.00 and gave the company an "overweight" rating in a 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 research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $397.14.

Everest Group Stock Up 1.3%

NYSE:EG traded up $4.35 during mid-day trading on Thursday, reaching $344.38. The stock had a trading volume of 78,355 shares, compared to its average volume of 392,244. The business's 50 day moving average is $336.64 and its 200 day moving average is $343.91. Everest Group, Ltd. has a fifty-two week low of $320.00 and a fifty-two week high of $407.30. The stock has a market cap of $14.44 billion, a P/E ratio of 18.28, a PEG ratio of 0.25 and a beta of 0.51. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.38 and a quick ratio of 0.38.

Everest Group (NYSE:EG - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $17.36 EPS for the quarter, topping 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 the consensus estimate of $4.22 billion. During the same quarter in the prior year, the company posted $16.85 earnings per share. The firm's revenue was up 6.2% on a year-over-year basis. As a group, sell-side analysts predict that Everest Group, Ltd. will post 47.93 earnings per share for the current year.

Everest Group Announces Dividend

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

About Everest Group

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.