Park Avenue Securities LLC Makes New Investment in Everest Group, Ltd. $EG

Key Points

• Park Avenue Securities LLC invested approximately $565,000 in Everest Group, acquiring 1,663 shares in the second quarter.
• The stock has a consensus target price of $387.47 with mixed ratings from analysts, including six Buy ratings and one Sell rating.
• Everest Group recently declared a quarterly dividend of $2.00 per share, providing a 2.3% yield and a payout ratio of 42.46%.

Park Avenue Securities LLC bought a new position in shares of Everest Group, Ltd. (NYSE:EG - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,663 shares of the company's stock, valued at approximately $565,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in EG. Nuveen LLC bought a new position in Everest Group during the first quarter worth about $137,418,000. Vulcan Value Partners LLC boosted its position in shares of Everest Group by 35.8% in the first quarter. Vulcan Value Partners LLC now owns 1,328,732 shares of the company's stock valued at $482,832,000 after acquiring an additional 350,019 shares during the period. GAMMA Investing LLC boosted its position in shares of Everest Group by 31,899.6% in the first quarter. GAMMA Investing LLC now owns 174,398 shares of the company's stock valued at $63,364,000 after acquiring an additional 173,853 shares during the period. Perpetual Ltd bought a new position in shares of Everest Group in the first quarter valued at approximately $37,919,000. Finally, Victory Capital Management Inc. boosted its position in shares of Everest Group by 39.7% in the first quarter. Victory Capital Management Inc. now owns 353,205 shares of the company's stock valued at $128,330,000 after acquiring an additional 100,377 shares during the period. Institutional investors own 92.64% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Wolfe Research upgraded shares of Everest Group to a "strong sell" rating in a research report on Tuesday, September 16th. Barclays raised their price objective on shares of Everest Group from $394.00 to $398.00 and gave the company an "overweight" rating in a research report on Monday, July 7th. Janney Montgomery Scott assumed coverage on shares of Everest Group in a research report on Friday, June 20th. They issued a "buy" rating and a $425.00 price objective for the company. Raymond James Financial set a $375.00 price objective on shares of Everest Group and gave the company an "outperform" rating in a research report on Monday, September 22nd. Finally, Citigroup assumed coverage on shares of Everest Group in a research report on Wednesday, August 13th. They issued a "neutral" rating and a $362.00 price objective for the company. Six 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's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $387.47.

Everest Group Trading Up 1.3%

Shares of Everest Group stock opened at $349.65 on Monday. Everest Group, Ltd. has a 1 year low of $320.00 and a 1 year high of $407.30. The firm has a market cap of $14.66 billion, a PE ratio of 18.56, a PEG ratio of 0.26 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. The company has a 50 day simple moving average of $337.62 and a two-hundred day simple moving average of $342.78.

Everest Group (NYSE:EG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $17.36 EPS for the quarter, topping the consensus estimate of $15.14 by $2.22. The firm had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $4.22 billion. Everest Group had a net margin of 4.56% and a return on equity of 5.89%. The business's revenue was up 6.2% compared to the same quarter last year. During the same period last year, the firm posted $16.85 earnings per share. Analysts expect that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Wednesday, September 3rd were paid a dividend of $2.00 per share. The ex-dividend date of this dividend was Wednesday, September 3rd. This represents a $8.00 annualized dividend and a dividend yield of 2.3%. Everest Group's dividend payout ratio (DPR) is 42.46%.

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.

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