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

Several other institutional investors and hedge funds have also made changes to their positions in EG. Sunbelt Securities Inc. acquired a new position in Everest Group during the fourth quarter valued at $29,000. SVB Wealth LLC acquired a new position in shares of Everest Group during the first quarter worth about $30,000. Tsfg LLC acquired a new position in Everest Group in the first quarter valued at $33,000. Zions Bancorporation National Association UT acquired a new stake in shares of Everest Group during the first quarter worth about $34,000. Finally, WPG Advisers LLC acquired a new position in shares of Everest Group during the 1st quarter worth $37,000. 92.64% of the stock is currently owned by institutional investors and hedge funds.

Everest Group Stock Performance

EG traded up $4.34 on Wednesday, hitting $334.97. The company's stock had a trading volume of 89,263 shares, compared to its average volume of 391,942. Everest Group, Ltd. has a 12 month low of $320.00 and a 12 month high of $407.30. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.24. The company's 50 day simple moving average is $337.02 and its 200-day simple moving average is $343.79. The firm has a market cap of $14.05 billion, a P/E ratio of 17.81, a price-to-earnings-growth ratio of 0.25 and a beta of 0.51.

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

Everest Group Dividend Announcement

The firm also recently declared 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 annualized dividend and a yield of 2.4%. The ex-dividend date is Wednesday, September 3rd. Everest Group's dividend payout ratio is 42.46%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on EG shares. Citigroup began coverage on Everest Group in a report on Wednesday, August 13th. They issued a "neutral" rating and a $362.00 price target for the company. Cantor Fitzgerald upgraded Everest Group to a "hold" rating in a research note on Wednesday, August 13th. Janney Montgomery Scott initiated coverage on Everest Group in a report on Friday, June 20th. They set a "buy" rating and a $425.00 price target on the stock. Wolfe Research raised Everest Group to a "strong sell" rating in a report on Tuesday. Finally, Keefe, Bruyette & Woods upped their price target on Everest Group from $405.00 to $416.00 and gave the company an "outperform" rating in a report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $389.80.

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.