Forum Financial Management LP Grows Position in Everest Group, Ltd. $EG

Forum Financial Management LP boosted its position in Everest Group, Ltd. (NYSE:EG) by 46.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,381 shares of the company’s stock after purchasing an additional 437 shares during the period. Forum Financial Management LP’s holdings in Everest Group were worth $469,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of EG. Nuveen LLC purchased a new position in Everest Group in the first quarter worth about $137,418,000. Vulcan Value Partners LLC boosted its position in Everest Group by 35.8% in the first quarter. Vulcan Value Partners LLC now owns 1,328,732 shares of the company’s stock worth $482,832,000 after purchasing an additional 350,019 shares during the last quarter. Perpetual Ltd purchased a new position in Everest Group in the first quarter worth about $37,919,000. Victory Capital Management Inc. boosted its position in Everest Group by 39.7% in the first quarter. Victory Capital Management Inc. now owns 353,205 shares of the company’s stock worth $128,330,000 after purchasing an additional 100,377 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Everest Group in the second quarter worth about $28,785,000. 92.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Cowen reissued a “hold” rating on shares of Everest Group in a research report on Tuesday, October 7th. Raymond James Financial set a $375.00 price objective on Everest Group and gave the stock an “outperform” rating in a research note on Monday, September 22nd. 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 research note on Wednesday, July 9th. Barclays raised their price objective on Everest Group from $405.00 to $430.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 8th. Finally, Evercore ISI raised their price objective on Everest Group from $380.00 to $384.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 1st. Five analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $382.79.

Everest Group Stock Down 0.0%

Shares of EG opened at $349.12 on Friday. The business’s 50 day moving average is $345.50 and its 200 day moving average is $342.32. The company has a market capitalization of $14.64 billion, a PE ratio of 18.53, a price-to-earnings-growth ratio of 0.24 and a beta of 0.48. Everest Group, Ltd. has a 12-month low of $320.00 and a 12-month high of $392.78. 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 (NYSE:EG) last issued its earnings results on Wednesday, July 30th. The company reported $17.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $15.14 by $2.22. The company had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $4.22 billion. Everest Group had a return on equity of 5.89% and a net margin of 4.56%.The firm’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter last year, the company earned $16.85 EPS. Research analysts expect 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. Investors of record on Wednesday, September 3rd were paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a 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%.

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.