BayBridge Capital Group LLC Purchases 94 Shares of Everest Group, Ltd. (NYSE:EG)

BayBridge Capital Group LLC boosted its position in Everest Group, Ltd. (NYSE:EG) by 3.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,936 shares of the company’s stock after acquiring an additional 94 shares during the quarter. BayBridge Capital Group LLC’s holdings in Everest Group were worth $1,150,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Mediolanum International Funds Ltd boosted its holdings in shares of Everest Group by 25.1% in the 3rd quarter. Mediolanum International Funds Ltd now owns 23,440 shares of the company’s stock valued at $9,247,000 after purchasing an additional 4,702 shares in the last quarter. IFM Investors Pty Ltd lifted its position in shares of Everest Group by 0.3% during the 3rd quarter. IFM Investors Pty Ltd now owns 11,208 shares of the company’s stock worth $4,392,000 after buying an additional 38 shares during the last quarter. Impact Partnership Wealth LLC acquired a new stake in Everest Group in the third quarter valued at about $326,000. International Assets Investment Management LLC bought a new position in Everest Group in the third quarter valued at about $8,905,000. Finally, Elevated Capital Advisors LLC raised its stake in Everest Group by 5.9% during the third quarter. Elevated Capital Advisors LLC now owns 2,066 shares of the company’s stock worth $809,000 after acquiring an additional 115 shares in the last quarter. 92.64% of the stock is currently owned by institutional investors and hedge funds.

Everest Group Price Performance

Shares of EG opened at $379.55 on Friday. The business has a 50-day moving average of $387.31 and a 200-day moving average of $380.48. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.38 and a quick ratio of 0.38. The company has a market capitalization of $16.49 billion, a price-to-earnings ratio of 5.64, a price-to-earnings-growth ratio of 2.71 and a beta of 0.61. Everest Group, Ltd. has a 1 year low of $343.76 and a 1 year high of $417.92.

Everest Group (NYSE:EG) last released its quarterly earnings results on Wednesday, July 31st. The company reported $16.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $16.97 by ($0.12). Everest Group had a return on equity of 24.09% and a net margin of 18.36%. The firm had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.32 billion. During the same quarter in the previous year, the business posted $15.21 EPS. The firm’s revenue for the quarter was up 15.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Everest Group, Ltd. will post 60.97 earnings per share for the current year.

Everest Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Monday, September 16th were given a dividend of $2.00 per share. The ex-dividend date was Monday, September 16th. This represents a $8.00 dividend on an annualized basis and a yield of 2.11%. Everest Group’s dividend payout ratio (DPR) is currently 11.89%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on EG shares. TD Cowen reduced their price target on shares of Everest Group from $419.00 to $405.00 and set a “hold” rating on the stock in a research note on Tuesday, August 13th. Wells Fargo & Company raised their target price on shares of Everest Group from $393.00 to $406.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Bank of America lowered their price target on shares of Everest Group from $496.00 to $485.00 and set a “buy” rating for the company in a report on Thursday, October 10th. BMO Capital Markets reissued a “market perform” rating and set a $403.00 price objective on shares of Everest Group in a report on Friday, August 30th. Finally, UBS Group raised Everest Group to a “hold” rating in a report on Wednesday, October 9th. Five analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $439.27.

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.