Optimize Financial Inc acquired a new stake in shares of Everest Group, Ltd. (NYSE:EG - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,040 shares of the company's stock, valued at approximately $378,000.
Other hedge funds have also made changes to their positions in the company. Sunbelt Securities Inc. acquired a new stake in Everest Group in the 4th quarter valued at approximately $29,000. SVB Wealth LLC acquired a new stake in Everest Group in the 1st quarter valued at approximately $30,000. Tsfg LLC acquired a new stake in Everest Group in the 1st quarter valued at approximately $33,000. Zions Bancorporation National Association UT acquired a new stake in Everest Group in the 1st quarter valued at approximately $34,000. Finally, WPG Advisers LLC acquired a new stake in Everest Group in the 1st quarter valued at approximately $37,000. Institutional investors and hedge funds own 92.64% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts have issued reports on the company. Morgan Stanley raised their target price on Everest Group from $330.00 to $350.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. UBS Group lowered their target price on Everest Group from $372.00 to $370.00 and set a "neutral" rating on the stock in a report on Wednesday, July 9th. Janney Montgomery Scott assumed coverage on Everest Group in a report on Friday, June 20th. They issued a "buy" rating and a $425.00 target price on the stock. Barclays raised their target price on Everest Group from $394.00 to $398.00 and gave the company an "overweight" rating in a report on Monday, July 7th. Finally, Keefe, Bruyette & Woods raised their price objective on Everest Group from $405.00 to $416.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 6th. One equities 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's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $397.14.
Check Out Our Latest Stock Report on Everest Group
Everest Group Price Performance
EG traded up $0.98 during trading on Friday, hitting $349.42. The company's stock had a trading volume of 487,609 shares, compared to its average volume of 278,528. The firm's 50 day moving average price is $337.11 and its two-hundred day moving average price is $344.01. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.24. Everest Group, Ltd. has a 12 month low of $320.00 and a 12 month high of $407.30. The stock has a market capitalization of $14.65 billion, a price-to-earnings ratio of 18.55, a price-to-earnings-growth ratio of 0.26 and a beta of 0.51.
Everest Group (NYSE:EG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $17.36 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $4.22 billion. During the same quarter in the previous year, the company posted $16.85 EPS. The business's revenue for the quarter was up 6.2% compared to the same quarter last year. Sell-side analysts forecast that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.
Everest Group Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Wednesday, September 3rd will be given a $2.00 dividend. The ex-dividend date is Wednesday, September 3rd. This represents a $8.00 annualized dividend and a yield of 2.3%. Everest Group's payout ratio is presently 42.46%.
About Everest Group
(
Free Report)
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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