Everest Group, Ltd. $EG Shares Sold by Johnson Investment Counsel Inc.

Johnson Investment Counsel Inc. lowered its position in shares of Everest Group, Ltd. (NYSE:EG) by 0.5% during the second quarter, Holdings Channel reports. The firm owned 189,702 shares of the company’s stock after selling 944 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Everest Group were worth $64,470,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Flagship Harbor Advisors LLC increased its position in shares of Everest Group by 3.7% during the first quarter. Flagship Harbor Advisors LLC now owns 843 shares of the company’s stock worth $306,000 after purchasing an additional 30 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. increased its position in shares of Everest Group by 3.0% during the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 1,025 shares of the company’s stock worth $372,000 after purchasing an additional 30 shares in the last quarter. Legacy Advisors LLC increased its position in shares of Everest Group by 5.5% during the first quarter. Legacy Advisors LLC now owns 599 shares of the company’s stock worth $218,000 after purchasing an additional 31 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of Everest Group by 4.3% during the second quarter. Farther Finance Advisors LLC now owns 816 shares of the company’s stock worth $277,000 after purchasing an additional 34 shares in the last quarter. Finally, Vontobel Holding Ltd. increased its position in shares of Everest Group by 2.1% during the first quarter. Vontobel Holding Ltd. now owns 1,781 shares of the company’s stock worth $647,000 after purchasing an additional 36 shares in the last quarter. Institutional investors and hedge funds own 92.64% of the company’s stock.

Everest Group Stock Performance

NYSE EG opened at $346.99 on Friday. 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 business’s 50 day moving average is $341.74 and its two-hundred day moving average is $342.52. Everest Group, Ltd. has a 12-month low of $320.00 and a 12-month high of $401.82. The stock has a market capitalization of $14.55 billion, a price-to-earnings ratio of 18.42, a PEG ratio of 0.25 and a beta of 0.48.

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

Everest Group Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms have recently commented on EG. Keefe, Bruyette & Woods lifted their target price on Everest Group from $405.00 to $416.00 and gave the stock an “outperform” rating in a research 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 on the stock. Cantor Fitzgerald upgraded Everest Group to a “hold” rating in a research report on Wednesday, August 13th. UBS Group dropped their price target on Everest Group from $372.00 to $370.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 9th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Everest Group in a research report on Wednesday. Five investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $382.79.

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.