Everest Group, Ltd. $EG Stock Sold by Meridian Investment Counsel Inc.

Meridian Investment Counsel Inc. decreased its holdings in Everest Group, Ltd. (NYSE:EG) by 40.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,010 shares of the company’s stock after selling 2,020 shares during the quarter. Meridian Investment Counsel Inc.’s holdings in Everest Group were worth $1,099,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. BlackRock Inc. bought a new stake in shares of Everest Group during the second quarter worth $1,150,555,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of Everest Group in the second quarter valued at $350,718,000. Balyasny Asset Management L.P. increased its stake in shares of Everest Group by 181.2% in the fourth quarter. Balyasny Asset Management L.P. now owns 498,697 shares of the company’s stock valued at $169,233,000 after buying an additional 321,376 shares in the last quarter. William Blair Investment Management LLC bought a new position in shares of Everest Group in the second quarter valued at about $171,426,000. Finally, Hsbc Holdings PLC raised its holdings in shares of Everest Group by 507.4% in the first quarter. Hsbc Holdings PLC now owns 449,919 shares of the company’s stock valued at $147,102,000 after buying an additional 375,846 shares during the last quarter. Institutional investors and hedge funds own 92.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. TD Cowen upped their price target on shares of Everest Group from $365.00 to $385.00 and gave the stock a “hold” rating in a research report on Wednesday, August 19th. Weiss Ratings restated a “hold (c+)” rating on shares of Everest Group in a research report on Tuesday, October 6th. Cantor Fitzgerald raised their price objective on shares of Everest Group from $344.00 to $390.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Wells Fargo & Company boosted their target price on shares of Everest Group from $373.00 to $396.00 and gave the stock an “equal weight” rating in a research note on Friday, July 31st. Finally, Rosenblatt Securities set a $455.00 target price on shares of Everest Group in a research note on Tuesday, September 22nd. Five research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $407.94.

Everest Group Trading Up 0.2%

EG stock opened at $375.39 on Thursday. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.23. Everest Group, Ltd. has a twelve month low of $302.44 and a twelve month high of $401.07. The company has a market cap of $14.39 billion, a P/E ratio of 7.94, a PEG ratio of 0.56 and a beta of 0.26. The business has a fifty day moving average of $372.24 and a 200-day moving average of $358.41.

Everest Group (NYSE:EG) last posted its quarterly earnings results on Tuesday, June 30th. The company reported $14.85 earnings per share (EPS) for the quarter. The business had revenue of $3.96 billion for the quarter. Everest Group had a return on equity of 13.63% and a net margin of 11.41%. As a group, equities research analysts expect that Everest Group, Ltd. will post 53.69 EPS for the current year.

Everest Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Wednesday, September 9th were issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Wednesday, September 9th. Everest Group’s payout ratio is currently 16.92%.

Everest Group Profile

Everest Group, Ltd. is a global specialty insurance and reinsurance company headquartered in Hamilton, Bermuda. The company provides risk-management and underwriting solutions to businesses, institutions, and insurance companies through its insurance and reinsurance operations.

Everest’s products and services include property and casualty insurance, specialty insurance, and reinsurance coverage. Its offerings address a range of risks, including property, casualty, workers’ compensation, professional liability, marine, aviation, accident and health, and other specialty exposures.