Everest Group, Ltd. $EG Shares Sold by Empowered Funds LLC

Empowered Funds LLC reduced its stake in shares of Everest Group, Ltd. (NYSE:EG) by 18.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 24,029 shares of the company’s stock after selling 5,604 shares during the period. Empowered Funds LLC owned approximately 0.06% of Everest Group worth $8,730,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Sunbelt Securities Inc. purchased a new stake in Everest Group during the fourth quarter worth about $29,000. SVB Wealth LLC purchased a new position in Everest Group in the first quarter valued at about $30,000. Tsfg LLC acquired a new stake in shares of Everest Group during the 1st quarter valued at approximately $33,000. Zions Bancorporation National Association UT acquired a new stake in shares of Everest Group during the 1st quarter valued at approximately $34,000. Finally, WPG Advisers LLC purchased a new stake in shares of Everest Group during the 1st quarter worth approximately $37,000. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Everest Group Stock Up 0.4%

Shares of NYSE:EG opened at $340.80 on Wednesday. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $14.29 billion, a P/E ratio of 18.09, a P/E/G ratio of 0.25 and a beta of 0.51. Everest Group, Ltd. has a 52-week low of $320.00 and a 52-week high of $407.30. The stock’s fifty day simple moving average is $336.52 and its 200-day simple moving average is $343.94.

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

Everest Group Dividend Announcement

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 dividend of $2.00 per share. The ex-dividend date is Wednesday, September 3rd. This represents a $8.00 dividend on an annualized basis and a yield of 2.3%. Everest Group’s dividend payout ratio (DPR) is 42.46%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on EG. Wells Fargo & Company reaffirmed a “mixed” rating on shares of Everest Group in a research note on Monday, August 4th. Keefe, Bruyette & Woods upped their target price on Everest Group from $405.00 to $416.00 and gave the company an “outperform” rating in a report on Wednesday, August 6th. Janney Montgomery Scott initiated coverage on Everest Group in a research report on Friday, June 20th. They issued a “buy” rating and a $425.00 price target for the company. Barclays boosted their price objective on shares of Everest Group from $394.00 to $398.00 and gave the stock an “overweight” rating in a research report on Monday, July 7th. Finally, Citigroup initiated coverage on shares of Everest Group in a research note on Wednesday, August 13th. They issued a “neutral” rating and a $362.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $397.14.

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.