Verdence Capital Advisors LLC Purchases 273 Shares of Everest Group, Ltd. $EG

Verdence Capital Advisors LLC grew its position in shares of Everest Group, Ltd. (NYSE:EG) by 17.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,849 shares of the company’s stock after purchasing an additional 273 shares during the period. Verdence Capital Advisors LLC’s holdings in Everest Group were worth $628,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC purchased a new position in shares of Everest Group in the second quarter worth about $676,000. CWM LLC increased its holdings in shares of Everest Group by 18.1% in the second quarter. CWM LLC now owns 55,247 shares of the company’s stock worth $18,776,000 after buying an additional 8,448 shares during the period. Board of the Pension Protection Fund purchased a new position in shares of Everest Group in the second quarter worth about $34,000. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Everest Group by 1.9% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 4,979 shares of the company’s stock worth $1,692,000 after buying an additional 91 shares during the period. Finally, Croban increased its holdings in shares of Everest Group by 4.2% in the second quarter. Croban now owns 2,260 shares of the company’s stock worth $768,000 after buying an additional 92 shares during the period. Institutional investors own 92.64% of the company’s stock.

Analyst Upgrades and Downgrades

EG has been the topic of several analyst reports. Janney Montgomery Scott initiated coverage on Everest Group in a report on Friday, June 20th. They issued a “buy” rating and a $425.00 price objective on the stock. Cowen reiterated a “hold” rating on shares of Everest Group in a report on Tuesday, October 7th. UBS Group decreased their price objective on Everest Group from $372.00 to $370.00 and set a “neutral” rating on the stock in a report on Wednesday, July 9th. Raymond James Financial set a $375.00 price target on Everest Group and gave the company an “outperform” rating in a report on Monday, September 22nd. Finally, Citigroup assumed coverage on Everest Group in a report on Wednesday, August 13th. They set a “neutral” rating and a $362.00 price target on the stock. Five research 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’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $382.79.

Everest Group Stock Performance

Everest Group stock opened at $356.61 on Wednesday. The stock’s 50 day simple moving average is $342.80 and its two-hundred day simple moving average is $342.37. 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 stock has a market cap of $14.96 billion, a price-to-earnings ratio of 18.93, a PEG ratio of 0.25 and a beta of 0.48. Everest Group, Ltd. has a fifty-two week low of $320.00 and a fifty-two week high of $401.82.

Everest Group (NYSE:EG) last posted its quarterly earnings data 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 business had revenue of $4.49 billion for the quarter, compared to analysts’ expectations of $4.22 billion. Everest Group had a return on equity of 5.89% and a net margin of 4.56%.The business’s revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the firm posted $16.85 EPS. As a group, analysts expect that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Wednesday, September 3rd were given a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Wednesday, September 3rd. Everest Group’s payout ratio is currently 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.