Hartford Investment Management Co. Lowers Stock Holdings in Everest Group, Ltd. (NYSE:EG)

Hartford Investment Management Co. lessened its stake in shares of Everest Group, Ltd. (NYSE:EG) by 2.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,489 shares of the company’s stock after selling 72 shares during the quarter. Hartford Investment Management Co.’s holdings in Everest Group were worth $1,367,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. American National Bank purchased a new stake in Everest Group in the 2nd quarter valued at approximately $27,000. M&R Capital Management Inc. acquired a new stake in shares of Everest Group in the 3rd quarter valued at approximately $29,000. Bruce G. Allen Investments LLC lifted its holdings in shares of Everest Group by 200.0% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 78 shares of the company’s stock valued at $31,000 after buying an additional 52 shares during the period. Eastern Bank purchased a new stake in shares of Everest Group in the third quarter valued at approximately $35,000. Finally, Massmutual Trust Co. FSB ADV grew its holdings in Everest Group by 36.9% during the second quarter. Massmutual Trust Co. FSB ADV now owns 115 shares of the company’s stock worth $44,000 after acquiring an additional 31 shares during the period. 92.64% of the stock is owned by institutional investors and hedge funds.

Everest Group Price Performance

NYSE:EG opened at $379.55 on Friday. The firm has a market cap of $16.49 billion, a price-to-earnings ratio of 5.64, a price-to-earnings-growth ratio of 2.71 and a beta of 0.61. Everest Group, Ltd. has a 12-month low of $343.76 and a 12-month 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 company’s 50-day moving average is $387.31 and its two-hundred day moving average is $380.48.

Everest Group (NYSE:EG) last announced its earnings results on Wednesday, July 31st. The company reported $16.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $16.97 by ($0.12). The firm had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.32 billion. Everest Group had a return on equity of 24.09% and a net margin of 18.36%. The firm’s revenue was up 15.8% compared to the same quarter last year. During the same quarter last year, the business posted $15.21 EPS. Research analysts expect that Everest Group, Ltd. will post 60.97 EPS for the current year.

Everest Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Monday, September 16th were paid a $2.00 dividend. The ex-dividend date was Monday, September 16th. This represents a $8.00 annualized dividend and a yield of 2.11%. Everest Group’s payout ratio is currently 11.89%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. TD Cowen decreased their target price on shares of Everest Group from $419.00 to $405.00 and set a “hold” rating on the stock in a research report on Tuesday, August 13th. Barclays started coverage on shares of Everest Group in a research report on Wednesday, September 4th. They set an “overweight” rating and a $527.00 target price on the stock. Bank of America decreased their price target on Everest Group from $496.00 to $485.00 and set a “buy” rating on the stock in a research note on Thursday, October 10th. UBS Group upgraded Everest Group to a “hold” rating in a report on Wednesday, October 9th. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $403.00 target price on shares of Everest Group in a research report on Friday, August 30th. Five investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $439.27.

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.