Vest Financial LLC Sells 20,359 Shares of Everest Group, Ltd. $EG

Key Points

• Vest Financial LLC reduced its holdings in Everest Group by 26.0%, selling 20,359 shares while retaining 57,862 shares valued at approximately $19.7 million.
• The company recently declared a $2.00 quarterly dividend, translating to an annualized amount of $8.00 and a yield of 2.3%.
• Everest Group reported a net revenue increase of 6.2% year-over-year and achieved earnings per share (EPS) of $17.36, surpassing analysts' estimates.

Vest Financial LLC trimmed its holdings in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 26.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 57,862 shares of the company's stock after selling 20,359 shares during the quarter. Vest Financial LLC owned approximately 0.14% of Everest Group worth $19,664,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Everest Group by 0.3% during 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 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 worth $482,832,000 after purchasing an additional 350,019 shares during the period. Boston Partners boosted its position in shares of Everest Group by 3.3% in the first quarter. Boston Partners now owns 696,765 shares of the company's stock worth $253,150,000 after purchasing an additional 22,432 shares during the period. Altrinsic Global Advisors LLC boosted its position in shares of Everest Group by 10.7% in 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 boosted its position 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 period. 92.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

EG has been the subject of a number of recent analyst reports. Wolfe Research upgraded shares of Everest Group to a "strong sell" rating in a research report on Tuesday, September 16th. Keefe, Bruyette & Woods upped their price target on shares of Everest Group from $405.00 to $416.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 6th. Barclays upped their price target on shares of Everest Group from $405.00 to $430.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 8th. Evercore ISI upped their target price on shares of Everest Group from $380.00 to $384.00 and gave the stock an "in-line" rating in a research report on Wednesday, October 1st. Finally, Raymond James Financial set a $375.00 target price on shares of Everest Group and gave the stock an "outperform" rating in a research report on Monday, September 22nd. Five investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Everest Group currently has an average rating of "Hold" and a consensus target price of $382.79.

Everest Group Price Performance

Shares of NYSE:EG opened at $350.77 on Tuesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.38 and a current ratio of 0.38. The firm has a fifty day moving average price of $342.23 and a 200 day moving average price of $342.27. Everest Group, Ltd. has a fifty-two week low of $320.00 and a fifty-two week high of $401.82. The firm has a market cap of $14.71 billion, a price-to-earnings ratio of 18.62, a P/E/G ratio of 0.24 and a beta of 0.48.

Everest Group (NYSE:EG - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $17.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $15.14 by $2.22. The company 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%. Everest Group's revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $16.85 earnings per share. As a group, sell-side analysts expect that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 19th. Investors 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 dividend on an annualized basis and a yield of 2.3%. Everest Group's dividend payout ratio is presently 42.46%.

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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