SG Americas Securities LLC Purchases 1,595 Shares of Everest Group, Ltd. $EG

SG Americas Securities LLC increased its position in shares of Everest Group, Ltd. (NYSE:EG) by 27.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,437 shares of the company’s stock after acquiring an additional 1,595 shares during the quarter. SG Americas Securities LLC’s holdings in Everest Group were worth $2,527,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SVB Wealth LLC acquired a new position in Everest Group during the 1st quarter valued at about $30,000. Zions Bancorporation National Association UT acquired a new stake in shares of Everest Group during the 1st quarter worth approximately $34,000. Board of the Pension Protection Fund bought a new stake in shares of Everest Group during the second quarter worth approximately $34,000. WPG Advisers LLC acquired a new position in Everest Group in the first quarter valued at approximately $37,000. Finally, Allworth Financial LP lifted its holdings in Everest Group by 96.8% in the second quarter. Allworth Financial LP now owns 183 shares of the company’s stock valued at $62,000 after buying an additional 90 shares during the period. 92.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director William F. Galtney, Jr. acquired 11,385 shares of the company’s stock in a transaction that occurred on Wednesday, October 29th. The shares were acquired at an average cost of $307.38 per share, for a total transaction of $3,499,521.30. Following the completion of the acquisition, the director directly owned 45,491 shares in the company, valued at approximately $13,983,023.58. The trade was a 33.38% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Allan Levine bought 3,100 shares of Everest Group stock in a transaction that occurred on Wednesday, October 29th. The stock was bought at an average cost of $306.08 per share, with a total value of $948,848.00. Following the completion of the purchase, the director owned 4,153 shares in the company, valued at approximately $1,271,150.24. This trade represents a 294.40% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Cantor Fitzgerald raised shares of Everest Group to a “hold” rating in a report on Wednesday, August 13th. Citigroup initiated coverage on Everest Group in a research note on Wednesday, August 13th. They set a “neutral” rating and a $362.00 price objective for the company. Evercore ISI upped their price objective on Everest Group from $380.00 to $384.00 and gave the company an “in-line” rating in a report on Wednesday, October 1st. Wells Fargo & Company reduced their target price on Everest Group from $383.00 to $343.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 29th. Finally, Wolfe Research upgraded Everest Group from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, October 29th. Five analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $368.77.

Everest Group Stock Down 0.1%

NYSE:EG opened at $320.03 on Wednesday. Everest Group, Ltd. has a 1 year low of $302.44 and a 1 year 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. The stock has a market cap of $13.43 billion, a price-to-earnings ratio of 24.37, a PEG ratio of 0.25 and a beta of 0.48. The stock has a 50-day moving average price of $338.31 and a two-hundred day moving average price of $338.68.

Everest Group (NYSE:EG) last released its quarterly earnings results on Monday, October 27th. The company reported $7.54 EPS for the quarter, missing analysts’ consensus estimates of $13.39 by ($5.85). Everest Group had a return on equity of 3.81% and a net margin of 3.12%.The business had revenue of $4.32 billion for the quarter, compared to analyst estimates of $3.86 billion. During the same period in the prior year, the business earned $11.80 EPS. The company’s revenue for the quarter was up .8% compared to the same quarter last year. As a group, equities analysts expect that Everest Group, Ltd. will post 47.93 earnings per share for the current year.

Everest Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Wednesday, November 26th will be paid a $2.00 dividend. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $8.00 dividend on an annualized basis and a yield of 2.5%. Everest Group’s payout ratio is presently 60.93%.

Everest Group 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.