Curat Global LLC Reduces Stock Holdings in Everest Group, Ltd. $EG

Curat Global LLC lowered its position in Everest Group, Ltd. (NYSE:EG) by 2.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,564 shares of the company’s stock after selling 37 shares during the quarter. Curat Global LLC’s holdings in Everest Group were worth $531,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Brighton Jones LLC purchased a new stake in shares of Everest Group in the second quarter valued at about $875,000. MQS Management LLC purchased a new stake in shares of Everest Group in the second quarter valued at about $388,000. Focus Partners Advisor Solutions LLC purchased a new stake in shares of Everest Group in the second quarter valued at about $610,000. R Squared Ltd grew its holdings in shares of Everest Group by 271.8% in the second quarter. R Squared Ltd now owns 2,900 shares of the company’s stock valued at $986,000 after purchasing an additional 2,120 shares during the period. Finally, Forum Financial Management LP grew its holdings in shares of Everest Group by 46.3% in the second quarter. Forum Financial Management LP now owns 1,381 shares of the company’s stock valued at $469,000 after purchasing an additional 437 shares during the period. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on EG shares. UBS Group dropped their price objective 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. Raymond James Financial set a $375.00 target price on shares of Everest Group and gave the stock an “outperform” rating in a research note on Monday, September 22nd. Wall Street Zen raised shares of Everest Group from a “hold” rating to a “buy” rating in a research note on Saturday. Evercore ISI increased their target price on shares of Everest Group from $380.00 to $384.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 1st. Finally, Wells Fargo & Company increased their target price on shares of Everest Group from $371.00 to $383.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $382.79.

Everest Group Stock Down 0.0%

Shares of EG opened at $349.12 on Monday. The stock has a market capitalization of $14.64 billion, a PE ratio of 18.53, a P/E/G ratio of 0.24 and a beta of 0.48. Everest Group, Ltd. has a 1 year low of $320.00 and a 1 year high of $392.78. 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 company’s 50-day simple moving average is $345.50 and its 200-day simple moving average is $342.35.

Everest Group (NYSE:EG) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $17.36 earnings per share (EPS) for the quarter, topping 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 net margin of 4.56% and a return on equity of 5.89%. The business’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $16.85 earnings per share. Analysts forecast that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The firm also recently declared 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 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.