Aberdeen Group plc Trims Stake in Everest Group, Ltd. $EG

Aberdeen Group plc lowered its stake in Everest Group, Ltd. (NYSE:EG) by 1.5% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 31,242 shares of the company’s stock after selling 485 shares during the quarter. Aberdeen Group plc owned approximately 0.07% of Everest Group worth $10,618,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of EG. Nuveen LLC purchased a new stake in Everest Group in the 1st quarter valued at approximately $137,418,000. Vulcan Value Partners LLC raised its holdings in 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 acquiring an additional 350,019 shares during the last quarter. Perpetual Ltd acquired a new position in Everest Group in the 1st quarter valued at $37,919,000. Victory Capital Management Inc. raised its holdings in Everest Group by 39.7% in the 1st quarter. Victory Capital Management Inc. now owns 353,205 shares of the company’s stock valued at $128,330,000 after acquiring an additional 100,377 shares during the last quarter. Finally, Amundi raised its holdings in Everest Group by 72.6% in the 1st quarter. Amundi now owns 180,484 shares of the company’s stock valued at $65,292,000 after acquiring an additional 75,920 shares during the last quarter. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Wells Fargo & Company boosted their price target on Everest Group from $371.00 to $383.00 and gave the company an “equal weight” rating in a report on Wednesday, October 8th. Keefe, Bruyette & Woods boosted 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. UBS Group cut their price target on Everest Group from $372.00 to $370.00 and set a “neutral” rating for the company 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, Wolfe Research upgraded Everest Group to a “strong sell” rating in a report on Tuesday, September 16th. Five research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Everest Group currently has a consensus rating of “Hold” and a consensus target price of $382.79.

Everest Group Trading Down 2.3%

EG stock opened at $348.52 on Thursday. The company has a market cap of $14.62 billion, a price-to-earnings ratio of 18.50, a PEG ratio of 0.25 and a beta of 0.48. 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 business has a fifty day simple moving average of $343.19 and a 200-day simple moving average of $342.41. Everest Group, Ltd. has a 52 week low of $320.00 and a 52 week high of $392.78.

Everest Group (NYSE:EG) last released its quarterly earnings data on Wednesday, July 30th. The company reported $17.36 EPS for the quarter, topping analysts’ consensus estimates of $15.14 by $2.22. Everest Group had a return on equity of 5.89% and a net margin of 4.56%.The business had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.22 billion. During the same period in the prior year, the firm posted $16.85 EPS. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, equities research analysts expect that Everest Group, Ltd. will post 47.93 EPS for the current year.

Everest Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Wednesday, September 3rd were issued a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 2.3%. The ex-dividend date was Wednesday, September 3rd. Everest Group’s dividend payout ratio is currently 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.