Robeco Institutional Asset Management B.V. Sells 38,652 Shares of Everest Group, Ltd. $EG

Key Points

• Robeco Institutional Asset Management B.V. reduced its stake in Everest Group, Ltd. by 40.5%, selling 38,652 shares and now owning 0.13% of the company, valued at approximately $19.3 million.
• Other institutional investors, including Vanguard Group and Vulcan Value Partners, have increased their stakes, contributing to a total of 92.64% institutional ownership of the stock.
• Everest Group recently reported earnings of $17.36 per share, exceeding estimates, and announced a quarterly dividend of $2.00, representing an annual yield of 2.2%.

Robeco Institutional Asset Management B.V. lessened its position in Everest Group, Ltd. (NYSE:EG - Free Report) by 40.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,762 shares of the company's stock after selling 38,652 shares during the period. Robeco Institutional Asset Management B.V. owned 0.13% of Everest Group worth $19,291,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Everest Group by 0.3% in the first quarter. Vanguard Group Inc. now owns 5,577,376 shares of the company's stock valued at $2,026,428,000 after buying an additional 17,346 shares during the period. Vulcan Value Partners LLC increased its position in Everest Group by 35.8% in the 1st 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. Boston Partners raised its stake in shares of Everest Group by 3.3% during the first quarter. Boston Partners now owns 696,765 shares of the company's stock valued at $253,150,000 after acquiring an additional 22,432 shares during the last quarter. Altrinsic Global Advisors LLC lifted its holdings in shares of Everest Group by 10.7% during the first quarter. Altrinsic Global Advisors LLC now owns 682,979 shares of the company's stock worth $248,147,000 after purchasing an additional 66,041 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Everest Group by 11.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 552,972 shares of the company's stock worth $200,911,000 after purchasing an additional 56,410 shares during the last quarter. 92.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on EG. Wells Fargo & Company reaffirmed a "mixed" rating on shares of Everest Group in a research report on Monday, August 4th. Janney Montgomery Scott initiated coverage on Everest Group in a research report on Friday, June 20th. They set a "buy" rating and a $425.00 price objective for the company. UBS Group reduced 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. Citigroup initiated coverage on shares of Everest Group in a research note on Wednesday, August 13th. They issued a "neutral" rating and a $362.00 price objective on the stock. Finally, Cantor Fitzgerald raised shares of Everest Group to a "hold" rating in a research note on Wednesday, August 13th. Six analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $386.67.

Everest Group Stock Performance

Shares of EG stock opened at $356.78 on Friday. The firm has a 50 day moving average of $339.34 and a 200-day moving average of $342.60. The company has a market cap of $14.96 billion, a price-to-earnings ratio of 18.94, a price-to-earnings-growth ratio of 0.26 and a beta of 0.48. 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 52 week low of $320.00 and a 52 week high of $407.30.

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

Everest Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Wednesday, September 3rd were given a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Wednesday, September 3rd. Everest Group's payout ratio is presently 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.

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