AustralianSuper Pty Ltd Purchases Shares of 18,316 Everest Group, Ltd. (NYSE:EG)

AustralianSuper Pty Ltd purchased a new stake in Everest Group, Ltd. (NYSE:EG) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 18,316 shares of the company’s stock, valued at approximately $7,177,000.

Other hedge funds also recently made changes to their positions in the company. American National Bank acquired a new position in shares of Everest Group in the 2nd quarter worth approximately $27,000. M&R Capital Management Inc. bought a new position in Everest Group during the third quarter worth $29,000. Bruce G. Allen Investments LLC lifted its holdings in Everest Group by 200.0% in the third quarter. Bruce G. Allen Investments LLC now owns 78 shares of the company’s stock valued at $31,000 after buying an additional 52 shares during the period. Eastern Bank bought a new stake in Everest Group during the third quarter valued at $35,000. Finally, Massmutual Trust Co. FSB ADV grew its holdings in Everest Group by 36.9% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 115 shares of the company’s stock worth $44,000 after acquiring an additional 31 shares during the period. 92.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on EG. UBS Group raised Everest Group to a “hold” rating in a research note on Wednesday, October 9th. Barclays dropped their price target on Everest Group from $527.00 to $517.00 and set an “overweight” rating on the stock in a research note on Thursday. Jefferies Financial Group raised their price objective on shares of Everest Group from $440.00 to $457.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. BMO Capital Markets reiterated a “market perform” rating and set a $403.00 target price on shares of Everest Group in a research report on Friday, August 30th. Finally, Morgan Stanley reduced their price target on shares of Everest Group from $450.00 to $445.00 and set an “overweight” rating for the company in a report on Wednesday, July 10th. Five research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $438.36.

Everest Group Trading Down 6.4 %

NYSE EG opened at $355.59 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 has a fifty day simple moving average of $387.38 and a 200 day simple moving average of $380.81. Everest Group, Ltd. has a 12 month low of $343.76 and a 12 month high of $417.92. The firm has a market capitalization of $15.31 billion, a P/E ratio of 5.56, a PEG ratio of 2.67 and a beta of 0.61.

Everest Group (NYSE:EG) last announced its earnings results on Wednesday, July 31st. The company reported $16.85 EPS for the quarter, missing the consensus estimate of $16.97 by ($0.12). Everest Group had a net margin of 16.99% and a return on equity of 23.13%. The firm had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.32 billion. During the same quarter in the prior year, the company earned $15.21 EPS. The business’s revenue for the quarter was up 15.8% on a year-over-year basis. On average, analysts predict that Everest Group, Ltd. will post 60.97 EPS for the current fiscal year.

Everest Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Monday, September 16th were issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date was Monday, September 16th. Everest Group’s dividend payout ratio (DPR) is currently 12.52%.

Everest Group Company 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.