Everest Group, Ltd. $EG Shares Sold by MBA Advisors LLC

MBA Advisors LLC lowered its position in shares of Everest Group, Ltd. (NYSE:EG) by 13.1% during the second quarter, Holdings Channel reports. The firm owned 1,059 shares of the company’s stock after selling 160 shares during the quarter. MBA Advisors LLC’s holdings in Everest Group were worth $360,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SVB Wealth LLC acquired a new stake in shares of Everest Group during the first quarter worth about $30,000. Tsfg LLC acquired a new position in Everest Group in the 1st quarter valued at about $33,000. Zions Bancorporation National Association UT acquired a new position in Everest Group in the 1st quarter valued at about $34,000. WPG Advisers LLC acquired a new position in Everest Group in the 1st quarter valued at about $37,000. Finally, Bruce G. Allen Investments LLC increased its position in Everest Group by 79.1% in the 1st quarter. Bruce G. Allen Investments LLC now owns 154 shares of the company’s stock valued at $56,000 after acquiring an additional 68 shares during the period. Institutional investors and hedge funds own 92.64% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on EG. Janney Montgomery Scott began 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. Keefe, Bruyette & Woods boosted their price target on Everest Group from $405.00 to $416.00 and gave the company an “outperform” rating in a research report on Wednesday, August 6th. 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. Cantor Fitzgerald upgraded Everest Group to a “hold” rating in a research report on Wednesday, August 13th. Finally, Barclays boosted their price target on Everest Group from $394.00 to $398.00 and gave the company an “overweight” rating in a research report on Monday, July 7th. 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 company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $387.47.

Everest Group Stock Performance

NYSE EG opened at $346.29 on Tuesday. 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 $337.94 and its two-hundred day moving average is $342.69. Everest Group, Ltd. has a 12-month low of $320.00 and a 12-month high of $407.30. The stock has a market capitalization of $14.52 billion, a price-to-earnings ratio of 18.38, a PEG ratio of 0.26 and a beta of 0.51.

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. 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%.The firm’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $16.85 EPS. Research analysts expect that Everest Group, Ltd. will post 47.93 EPS for the current year.

Everest Group Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Wednesday, September 3rd. This represents a $8.00 annualized dividend and a dividend yield of 2.3%. Everest Group’s payout ratio is 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.