Ameriprise Financial Inc. Cuts Holdings in Everest Group, Ltd. $EG

Ameriprise Financial Inc. decreased its stake in shares of Everest Group, Ltd. (NYSE:EG) by 1.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 252,511 shares of the company’s stock after selling 2,854 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.59% of Everest Group worth $91,751,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Flagship Harbor Advisors LLC boosted its position in shares of Everest Group by 3.7% during the 1st quarter. Flagship Harbor Advisors LLC now owns 843 shares of the company’s stock worth $306,000 after acquiring an additional 30 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. boosted its position in shares of Everest Group by 3.0% during the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 1,025 shares of the company’s stock worth $372,000 after acquiring an additional 30 shares in the last quarter. Legacy Advisors LLC boosted its position in shares of Everest Group by 5.5% during the 1st quarter. Legacy Advisors LLC now owns 599 shares of the company’s stock worth $218,000 after acquiring an additional 31 shares in the last quarter. Nissay Asset Management Corp Japan ADV boosted its position in shares of Everest Group by 0.7% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 5,315 shares of the company’s stock worth $1,913,000 after acquiring an additional 36 shares in the last quarter. Finally, Vontobel Holding Ltd. boosted its position in shares of Everest Group by 2.1% during the 1st quarter. Vontobel Holding Ltd. now owns 1,781 shares of the company’s stock worth $647,000 after acquiring an additional 36 shares in the last quarter. 92.64% of the stock is owned by institutional investors and hedge funds.

Everest Group Stock Down 0.8%

Shares of NYSE EG opened at $341.21 on Tuesday. The stock has a market cap of $14.31 billion, a PE ratio of 18.11, a price-to-earnings-growth ratio of 0.25 and a beta of 0.50. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.24. Everest Group, Ltd. has a 52-week low of $320.00 and a 52-week high of $407.30. The business has a 50-day moving average price of $335.46 and a 200 day moving average price of $343.46.

Everest Group (NYSE:EG) last announced its earnings results on Wednesday, July 30th. The company reported $17.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $15.14 by $2.22. The firm had revenue of $4.49 billion during the quarter, compared to analysts’ expectations of $4.22 billion. Everest Group had a return on equity of 5.89% and a net margin of 4.56%.The business’s revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the firm earned $16.85 EPS. Equities research analysts forecast that Everest Group, Ltd. will post 47.93 earnings per share for the current year.

Everest Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Wednesday, September 3rd will be given a $2.00 dividend. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.3%. Everest Group’s dividend payout ratio is 42.46%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Morgan Stanley upped their price objective on Everest Group from $330.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Monday, May 19th. Citigroup assumed coverage on Everest Group in a research report on Wednesday, August 13th. They set a “neutral” rating and a $362.00 price objective for the company. Cantor Fitzgerald raised Everest Group to a “hold” rating in a research report on Wednesday, August 13th. Janney Montgomery Scott assumed coverage on Everest Group in a research report on Friday, June 20th. They set a “buy” rating and a $425.00 price objective for the company. Finally, Keefe, Bruyette & Woods upped their price objective on Everest Group from $405.00 to $416.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $397.14.

Insider Buying and Selling

In related news, CEO James Allan Williamson acquired 1,000 shares of Everest Group stock in a transaction on Wednesday, June 11th. The stock was purchased at an average cost of $337.97 per share, with a total value of $337,970.00. Following the purchase, the chief executive officer directly owned 25,618 shares in the company, valued at approximately $8,658,115.46. The trade was a 4.06% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is currently owned by corporate insiders.

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.