WBI Investments LLC Invests $303,000 in Everest Group, Ltd. $EG

Key Points

• WBI Investments LLC has acquired a new stake in Everest Group, purchasing 833 shares valued at approximately $303,000.
• Everest Group reported a quarterly EPS of $17.36, exceeding analyst expectations, with revenue of $4.49 billion for the quarter, marking a 6.2% year-over-year increase.
• The company announced a quarterly dividend of $2.00 per share, resulting in an annualized yield of 2.3%, with a payout ratio of 42.46%.

WBI Investments LLC acquired a new stake in Everest Group, Ltd. (NYSE:EG - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 833 shares of the company's stock, valued at approximately $303,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Everest Group by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 5,577,376 shares of the company's stock valued at $2,026,428,000 after purchasing an additional 17,346 shares in the last quarter. Vulcan Value Partners LLC grew its position in shares of 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 buying an additional 350,019 shares during the last quarter. Boston Partners grew its position in shares of Everest Group by 3.3% in the 1st quarter. Boston Partners now owns 696,765 shares of the company's stock valued at $253,150,000 after buying an additional 22,432 shares during the last quarter. Altrinsic Global Advisors LLC grew its position in shares of Everest Group by 10.7% in the 1st quarter. Altrinsic Global Advisors LLC now owns 682,979 shares of the company's stock valued at $248,147,000 after buying an additional 66,041 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in shares of Everest Group by 11.4% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 552,972 shares of the company's stock valued at $200,911,000 after buying an additional 56,410 shares during the last quarter. 92.64% of the stock is currently owned by institutional investors and hedge funds.

Everest Group Price Performance

Shares of NYSE EG traded up $0.98 during midday trading on Friday, hitting $349.42. The company had a trading volume of 487,609 shares, compared to its average volume of 285,109. 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 twelve month low of $320.00 and a twelve month high of $407.30. The business has a 50-day simple moving average of $337.11 and a two-hundred day simple moving average of $343.98. The firm 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 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 during the quarter, compared to analysts' expectations of $4.22 billion. Everest Group had a net margin of 4.56% and a return on equity of 5.89%. The firm's quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $16.85 earnings per share. Equities research analysts anticipate that Everest Group, Ltd. will post 47.93 earnings per share for the current year.

Everest Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Wednesday, September 3rd will be issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Wednesday, September 3rd. Everest Group's payout ratio is presently 42.46%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. UBS Group lowered their price objective on shares of Everest Group from $372.00 to $370.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 9th. Janney Montgomery Scott assumed coverage on shares of Everest Group in a research report on Friday, June 20th. They set a "buy" rating and a $425.00 price objective on the stock. Citigroup assumed coverage on shares of Everest Group in a research report on Wednesday, August 13th. They set a "neutral" rating and a $362.00 price objective on the stock. Cantor Fitzgerald raised shares of Everest Group to a "hold" rating in a research report on Wednesday, August 13th. Finally, Morgan Stanley raised their price objective on shares of 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 assigned a Hold rating to the stock. According to MarketBeat.com, Everest Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $397.14.

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.