Cookson Peirce & Co. Inc. Invests $854,000 in Everest Group, Ltd. $EG

Cookson Peirce & Co. Inc. bought a new stake in Everest Group, Ltd. (NYSE:EG) in the second quarter, Holdings Channel reports. The fund bought 2,513 shares of the company’s stock, valued at approximately $854,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. SVB Wealth LLC bought a new position in Everest Group in the 1st quarter valued at about $30,000. Tsfg LLC bought a new position in Everest Group in the 1st quarter valued at about $33,000. Zions Bancorporation National Association UT bought a new position in Everest Group in the 1st quarter valued at about $34,000. Board of the Pension Protection Fund bought a new position in Everest Group in the 2nd quarter valued at about $34,000. Finally, WPG Advisers LLC bought a new position in Everest Group in the 1st quarter valued at about $37,000. Institutional investors own 92.64% of the company’s stock.

Everest Group Price Performance

EG stock opened at $348.54 on Thursday. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.24. Everest Group, Ltd. has a one year low of $320.00 and a one year high of $392.78. The firm has a market capitalization of $14.62 billion, a PE ratio of 18.50, a P/E/G ratio of 0.24 and a beta of 0.48. The firm has a 50-day moving average of $344.91 and a two-hundred day moving average of $342.03.

Everest Group (NYSE:EG) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $17.36 EPS for the quarter, beating analysts’ consensus estimates of $15.14 by $2.22. Everest Group had a net margin of 4.56% and a return on equity of 5.89%. The company had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.22 billion. During the same period in the prior year, the firm earned $16.85 earnings per share. The business’s quarterly revenue was up 6.2% on a year-over-year basis. On average, analysts forecast that Everest Group, Ltd. will post 47.93 earnings per share for the current 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 2.3%. The ex-dividend date of this dividend was Wednesday, September 3rd. Everest Group’s dividend payout ratio is 42.46%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company upped their price target on shares of Everest Group from $371.00 to $383.00 and gave the company an “equal weight” rating in a report on Wednesday, October 8th. Evercore ISI upped their price target on shares of Everest Group from $380.00 to $384.00 and gave the company an “in-line” rating in a report on Wednesday, October 1st. Cantor Fitzgerald raised shares of Everest Group to a “hold” rating in a report on Wednesday, August 13th. Raymond James Financial set a $375.00 price target on shares of Everest Group and gave the company an “outperform” rating in a report on Monday, September 22nd. Finally, UBS Group cut their price target on shares of Everest Group from $372.00 to $370.00 and set a “neutral” rating for the company in a report on Wednesday, July 9th. 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, the company currently 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.