Legacy Wealth Asset Management LLC Has $507,000 Stake in Everest Group, Ltd. $EG

Legacy Wealth Asset Management LLC raised its position in Everest Group, Ltd. (NYSE:EG) by 2.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 1,493 shares of the company’s stock after purchasing an additional 42 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Everest Group were worth $507,000 as of its most recent filing with the SEC.

A number of other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. increased 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 in the last quarter. Vulcan Value Partners LLC increased its holdings in Everest Group by 35.8% in the first quarter. Vulcan Value Partners LLC now owns 1,328,732 shares of the company’s stock worth $482,832,000 after purchasing an additional 350,019 shares in the last quarter. Boston Partners increased its holdings in Everest Group by 3.3% in the first quarter. Boston Partners now owns 696,765 shares of the company’s stock worth $253,150,000 after purchasing an additional 22,432 shares in the last quarter. Altrinsic Global Advisors LLC increased its holdings in Everest Group by 10.7% in the first quarter. Altrinsic Global Advisors LLC now owns 682,979 shares of the company’s stock worth $248,147,000 after purchasing an additional 66,041 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in Everest Group by 11.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 552,972 shares of the company’s stock worth $200,911,000 after purchasing an additional 56,410 shares in the last quarter. 92.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

EG has been the subject of a number of research analyst reports. Citigroup initiated coverage on Everest Group in a report on Wednesday, August 13th. They issued a “neutral” rating and a $362.00 target price for the company. Raymond James Financial set a $375.00 price objective on Everest Group and gave the company an “outperform” rating in a report on Monday, September 22nd. Evercore ISI boosted their price objective on Everest Group from $380.00 to $384.00 and gave the company an “in-line” rating in a report on Wednesday, October 1st. Wells Fargo & Company boosted their price objective on Everest Group from $371.00 to $383.00 and gave the company an “equal weight” rating in a report on Wednesday, October 8th. Finally, Barclays boosted their price objective on Everest Group from $405.00 to $430.00 and gave the company an “overweight” rating in a report on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Everest Group has an average rating of “Hold” and an average target price of $382.79.

Everest Group Stock Down 0.6%

Shares of NYSE:EG opened at $348.97 on Wednesday. The stock has a market cap of $14.64 billion, a price-to-earnings ratio of 18.52, a PEG ratio of 0.24 and a beta of 0.48. 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 12-month low of $320.00 and a 12-month high of $392.78. The business’s 50 day moving average is $344.67 and its 200 day moving average is $341.99.

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 the consensus estimate of $15.14 by $2.22. The company had revenue of $4.49 billion for 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%.Everest Group’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $16.85 earnings per share. On average, sell-side analysts forecast that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 19th. Stockholders 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 dividend yield of 2.3%. The ex-dividend date was Wednesday, September 3rd. Everest Group’s payout ratio is presently 42.46%.

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.