Everest Group, Ltd. $EG Shares Acquired by Dakota Wealth Management

Dakota Wealth Management increased its stake in Everest Group, Ltd. (NYSE:EG) by 8.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,108 shares of the company’s stock after acquiring an additional 160 shares during the period. Dakota Wealth Management’s holdings in Everest Group were worth $716,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Truist Financial Corp boosted its position in shares of Everest Group by 16.9% in the first quarter. Truist Financial Corp now owns 108,596 shares of the company’s stock worth $39,456,000 after acquiring an additional 15,660 shares during the last quarter. Fifth Third Bancorp raised its holdings in Everest Group by 18.1% in the first quarter. Fifth Third Bancorp now owns 1,151 shares of the company’s stock valued at $418,000 after buying an additional 176 shares during the period. Envestnet Asset Management Inc. lifted its position in Everest Group by 12.2% during the first quarter. Envestnet Asset Management Inc. now owns 172,718 shares of the company’s stock valued at $62,753,000 after buying an additional 18,780 shares in the last quarter. Wedge Capital Management L L P NC lifted its position in Everest Group by 14.3% during the first quarter. Wedge Capital Management L L P NC now owns 9,871 shares of the company’s stock valued at $3,586,000 after buying an additional 1,235 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in Everest Group by 127.3% during the first quarter. SG Americas Securities LLC now owns 5,842 shares of the company’s stock valued at $2,123,000 after buying an additional 3,272 shares in the last quarter. 92.64% of the stock is owned by institutional investors and hedge funds.

Everest Group Trading Up 1.3%

EG opened at $349.65 on Friday. The firm has a market capitalization of $14.66 billion, a P/E ratio of 18.56, a P/E/G ratio of 0.26 and a beta of 0.51. The firm’s 50 day moving average is $337.62 and its 200-day moving average is $342.83. Everest Group, Ltd. has a 52-week low of $320.00 and a 52-week high of $407.30. 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 (NYSE:EG) last posted its quarterly earnings data 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 company had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.22 billion. Everest Group had a net margin of 4.56% and a return on equity of 5.89%. The business’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter last year, the firm posted $16.85 earnings per share. Analysts expect that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Wednesday, September 3rd were paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Wednesday, September 3rd. Everest Group’s dividend payout ratio is 42.46%.

Analyst Ratings Changes

A number of brokerages have weighed in on EG. Janney Montgomery Scott began coverage on shares of Everest Group in a research report on Friday, June 20th. They set a “buy” rating and a $425.00 price target on the stock. UBS Group reduced their price target on shares of Everest Group from $372.00 to $370.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 9th. Barclays lifted their price target on shares of Everest Group from $394.00 to $398.00 and gave the company an “overweight” rating in a research report on Monday, July 7th. Raymond James Financial set a $375.00 price target on shares of Everest Group and gave the company an “outperform” rating in a research report on Monday, September 22nd. Finally, Cantor Fitzgerald raised shares of Everest Group to a “hold” rating in a research report on Wednesday, August 13th. Six equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $387.47.

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.