Board of the Pension Protection Fund Acquires New Holdings in Everest Group, Ltd. $EG

Board of the Pension Protection Fund acquired a new stake in Everest Group, Ltd. (NYSE:EG) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 100 shares of the company’s stock, valued at approximately $34,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position 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 purchasing an additional 17,346 shares during the last quarter. Vulcan Value Partners LLC boosted its stake in shares of Everest Group by 35.8% during the first 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 last quarter. Boston Partners boosted 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 boosted its stake 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 valued at $248,147,000 after acquiring an additional 66,041 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Everest Group by 11.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 552,972 shares of the company’s stock valued at $200,911,000 after acquiring an additional 56,410 shares during the last quarter. 92.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Janney Montgomery Scott assumed coverage on shares of Everest Group in a research note on Friday, June 20th. They set a “buy” rating and a $425.00 price target on the stock. Evercore ISI raised 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. Weiss Ratings restated a “hold (c)” rating on shares of Everest Group in a research report on Wednesday. Barclays raised their target price on shares of Everest Group from $405.00 to $430.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Wells Fargo & Company raised their price objective on Everest Group from $371.00 to $383.00 and gave the stock an “equal weight” rating in a report on Wednesday. Five analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Everest Group currently has a consensus rating of “Hold” and a consensus target price of $382.79.

Everest Group Price Performance

EG opened at $346.99 on Friday. The company’s 50 day simple moving average is $341.74 and its 200 day simple moving average is $342.52. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.38 and a current ratio of 0.38. Everest Group, Ltd. has a 1 year low of $320.00 and a 1 year high of $401.82. The stock has a market capitalization of $14.55 billion, a PE ratio of 18.42, a P/E/G ratio of 0.25 and a beta of 0.48.

Everest Group (NYSE:EG) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $17.36 earnings per share 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 analyst estimates 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 for the quarter was up 6.2% on a year-over-year basis. During the same quarter last year, the business earned $16.85 EPS. As a group, sell-side analysts expect that Everest Group, Ltd. will post 47.93 EPS 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 issued a $2.00 dividend. The ex-dividend date 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 (DPR) 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.