Lecap Asset Management Ltd. Cuts Position in Everest Group, Ltd. $EG

Lecap Asset Management Ltd. trimmed its holdings in shares of Everest Group, Ltd. (NYSE:EG) by 45.0% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 3,728 shares of the company’s stock after selling 3,047 shares during the period. Lecap Asset Management Ltd.’s holdings in Everest Group were worth $1,267,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of EG. Vanguard Group Inc. boosted its holdings in Everest Group by 0.3% in the first quarter. Vanguard Group Inc. now owns 5,577,376 shares of the company’s stock worth $2,026,428,000 after purchasing an additional 17,346 shares during the last quarter. Vulcan Value Partners LLC increased its holdings in Everest Group by 35.8% in the 1st quarter. Vulcan Value Partners LLC now owns 1,328,732 shares of the company’s stock valued at $482,832,000 after acquiring an additional 350,019 shares during the last quarter. Boston Partners increased its holdings in Everest Group by 3.3% in the 1st quarter. Boston Partners now owns 696,765 shares of the company’s stock valued at $253,150,000 after acquiring an additional 22,432 shares during the last quarter. Altrinsic Global Advisors LLC boosted its position in Everest Group by 10.7% in the 1st quarter. Altrinsic Global Advisors LLC now owns 682,979 shares of the company’s stock valued at $248,147,000 after buying an additional 66,041 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its position in Everest Group by 11.4% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 552,972 shares of the company’s stock valued at $200,911,000 after buying an additional 56,410 shares during the period. 92.64% of the stock is owned by institutional investors.

Everest Group Price Performance

Everest Group stock opened at $353.47 on Thursday. Everest Group, Ltd. has a 12-month low of $320.00 and a 12-month high of $407.30. The stock has a market cap of $14.82 billion, a P/E ratio of 18.76, a PEG ratio of 0.26 and a beta of 0.48. The company has a 50-day moving average price of $338.56 and a 200 day moving average price of $342.81. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.24.

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

Everest Group Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts recently commented on EG shares. Citigroup started coverage on shares of Everest Group in a research note on Wednesday, August 13th. They set a “neutral” rating and a $362.00 price objective for the company. Wolfe Research raised shares of Everest Group to a “strong sell” rating in a report on Tuesday, September 16th. Janney Montgomery Scott started coverage on shares of Everest Group in a report on Friday, June 20th. They set a “buy” rating and a $425.00 price objective on the stock. Cantor Fitzgerald upgraded shares of Everest Group to a “hold” rating in a research report on Wednesday, August 13th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Everest Group from $405.00 to $416.00 and gave the company an “outperform” rating in a research report on Wednesday, August 6th. Six research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Everest Group presently has a consensus rating of “Hold” and a consensus target price of $386.67.

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.