Vident Advisory LLC Has $584,000 Holdings in Everest Group, Ltd. $EG

Key Points

• Vident Advisory LLC significantly reduced its stake in Everest Group, cutting holdings by 82.1% to 1,606 shares, following the sale of 7,350 shares.
• Everest Group reported a quarterly earnings per share of $17.36, exceeding analyst expectations of $15.14, along with revenue of $4.49 billion.
• The company declared a quarterly dividend of $2.00, with an annualized payout of $8.00 and a yield of 2.4%.

Vident Advisory LLC cut its holdings in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 82.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,606 shares of the company's stock after selling 7,350 shares during the quarter. Vident Advisory LLC's holdings in Everest Group were worth $584,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sunbelt Securities Inc. bought a new stake in shares of Everest Group in the 4th quarter valued at approximately $29,000. SVB Wealth LLC bought a new stake in shares of Everest Group in the 1st quarter valued at approximately $30,000. Tsfg LLC acquired a new position in Everest Group during the 1st quarter valued at approximately $33,000. Zions Bancorporation National Association UT acquired a new position in Everest Group during the 1st quarter valued at approximately $34,000. Finally, WPG Advisers LLC acquired a new position in Everest Group during the 1st quarter valued at approximately $37,000. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Everest Group Price Performance

Shares of Everest Group stock traded up $4.20 during trading on Thursday, hitting $344.23. The stock had a trading volume of 112,461 shares, compared to its average volume of 392,449. 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 firm 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 business has a fifty day moving average of $336.64 and a two-hundred day moving average of $343.91. Everest Group, Ltd. has a fifty-two week low of $320.00 and a fifty-two week high of $407.30.

Everest Group (NYSE:EG - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $17.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $15.14 by $2.22. The company had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.22 billion. Everest Group had a return on equity of 5.89% and a net margin of 4.56%.Everest Group's revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $16.85 earnings per share. On average, sell-side 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 announced a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Wednesday, September 3rd will be paid a dividend of $2.00 per share. The ex-dividend date is Wednesday, September 3rd. This represents a $8.00 annualized dividend and a yield of 2.3%. Everest Group's dividend payout ratio is presently 42.46%.

Analysts Set New Price Targets

A number of research firms recently issued reports on EG. Keefe, Bruyette & Woods boosted their price objective on Everest Group from $405.00 to $416.00 and gave the company an "outperform" rating in a research report on Wednesday, August 6th. Wells Fargo & Company restated a "mixed" rating on shares of Everest Group in a research report on Monday, August 4th. Barclays boosted their price objective on Everest Group from $394.00 to $398.00 and gave the company an "overweight" rating in a research report on Monday, July 7th. Cantor Fitzgerald upgraded Everest Group to a "hold" rating in a research report on Wednesday, August 13th. Finally, Morgan Stanley boosted their price target on Everest Group from $330.00 to $350.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $397.14.

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.