Sequoia Financial Advisors LLC Makes New Investment in Everest Group, Ltd. $EG

Sequoia Financial Advisors LLC bought a new position in Everest Group, Ltd. (NYSE:EG) in the second quarter, Holdings Channel reports. The institutional investor bought 1,989 shares of the company’s stock, valued at approximately $676,000.

A number of other hedge funds and other institutional investors have also modified their holdings of EG. SVB Wealth LLC purchased a new position in shares of Everest Group during the 1st quarter worth $30,000. Tsfg LLC purchased a new position in shares of Everest Group during the 1st quarter worth $33,000. Zions Bancorporation National Association UT purchased a new position in shares of Everest Group during the 1st quarter worth $34,000. Board of the Pension Protection Fund purchased a new position in shares of Everest Group during the 2nd quarter worth $34,000. Finally, WPG Advisers LLC purchased a new position in shares of Everest Group during the 1st quarter worth $37,000. 92.64% of the stock is owned by institutional investors and hedge funds.

Everest Group Price Performance

EG stock opened at $349.46 on Monday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.38 and a quick ratio of 0.38. The firm has a market capitalization of $14.66 billion, a P/E ratio of 18.55, a P/E/G ratio of 0.24 and a beta of 0.48. The business’s 50-day moving average is $343.85 and its two-hundred day moving average is $341.84. Everest Group, Ltd. has a 1 year low of $320.00 and a 1 year high of $392.78.

Everest Group (NYSE:EG) last issued its earnings results on Wednesday, July 30th. The company reported $17.36 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $4.22 billion. During the same quarter last year, the company earned $16.85 EPS. The business’s quarterly revenue was up 6.2% on a year-over-year basis. Analysts anticipate that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Wednesday, September 3rd were given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Wednesday, September 3rd. Everest Group’s dividend payout ratio (DPR) is 42.46%.

Analyst Ratings Changes

EG has been the subject of a number of research analyst reports. Cantor Fitzgerald upgraded Everest Group to a “hold” rating in a report on Wednesday, August 13th. UBS Group lowered their target price on Everest Group from $372.00 to $370.00 and set a “neutral” rating for the company in a report on Wednesday, July 9th. Weiss Ratings restated a “hold (c)” rating on shares of Everest Group in a report on Wednesday, October 8th. Wolfe Research upgraded Everest Group to a “strong sell” rating in a report on Tuesday, September 16th. Finally, Barclays increased their price target on Everest Group from $405.00 to $430.00 and gave the company an “overweight” rating in a research report on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Everest Group presently has a consensus rating of “Hold” and a consensus target price of $382.79.

Everest Group Company 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.