Everest Group, Ltd. (NYSE:EG) Stake Lifted by Delphi Management Inc. MA

Delphi Management Inc. MA increased its stake in shares of Everest Group, Ltd. (NYSE:EG) by 1.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,773 shares of the company’s stock after buying an additional 60 shares during the quarter. Everest Group comprises approximately 1.5% of Delphi Management Inc. MA’s holdings, making the stock its 19th largest position. Delphi Management Inc. MA’s holdings in Everest Group were worth $1,819,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in EG. American National Bank acquired a new position in Everest Group during the 2nd quarter worth $27,000. Massmutual Trust Co. FSB ADV acquired a new stake in shares of Everest Group in the first quarter valued at $33,000. FinTrust Capital Advisors LLC acquired a new stake in shares of Everest Group in the fourth quarter valued at $33,000. Hollencrest Capital Management lifted its holdings in shares of Everest Group by 575.0% in the first quarter. Hollencrest Capital Management now owns 135 shares of the company’s stock valued at $54,000 after buying an additional 115 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Everest Group in the first quarter valued at $61,000. 92.64% of the stock is currently owned by institutional investors.

Everest Group Stock Down 0.8 %

NYSE:EG opened at $391.83 on Tuesday. The firm has a market capitalization of $16.87 billion, a price-to-earnings ratio of 5.82, a PEG ratio of 2.67 and a beta of 0.62. Everest Group, Ltd. has a 1-year low of $343.76 and a 1-year high of $417.92. 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 business’s fifty day moving average price is $381.00 and its 200 day moving average price is $380.44.

Everest Group (NYSE:EG) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $16.85 earnings per share for the quarter, missing the consensus estimate of $16.97 by ($0.12). The business had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.32 billion. Everest Group had a net margin of 18.36% and a return on equity of 24.09%. The firm’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period in the previous year, the firm posted $15.21 earnings per share. On average, sell-side analysts forecast that Everest Group, Ltd. will post 61.66 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Monday, September 16th were given a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 2.04%. The ex-dividend date was Monday, September 16th. Everest Group’s payout ratio is currently 11.89%.

Analyst Ratings Changes

Several brokerages have recently weighed in on EG. Wells Fargo & Company upped their price objective on Everest Group from $392.00 to $393.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Barclays started coverage on Everest Group in a report on Wednesday, September 4th. They set an “overweight” rating and a $527.00 target price for the company. Bank of America upped their target price on Everest Group from $470.00 to $493.00 and gave the company a “buy” rating in a report on Thursday, July 11th. TD Cowen reduced their target price on Everest Group from $419.00 to $405.00 and set a “hold” rating for the company in a report on Tuesday, August 13th. Finally, Morgan Stanley reduced their target price on Everest Group from $450.00 to $445.00 and set an “overweight” rating for the company in a report on Wednesday, July 10th. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $438.09.

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.