HFG Advisors Inc. Purchases New Holdings in Everest Group, Ltd. (NYSE:EG)

HFG Advisors Inc. purchased a new stake in Everest Group, Ltd. (NYSE:EG) during the first quarter, according to its most recent disclosure with the SEC. The firm purchased 825 shares of the company’s stock, valued at approximately $328,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of EG. Vanguard Group Inc. purchased a new position in Everest Group in the 4th quarter valued at about $1,886,055,000. Wellington Management Group LLP purchased a new position in Everest Group in the 4th quarter valued at about $751,457,000. Franklin Resources Inc. purchased a new position in Everest Group in the 4th quarter valued at about $373,130,000. Boston Partners purchased a new position in Everest Group in the 4th quarter valued at about $328,064,000. Finally, Norges Bank acquired a new stake in Everest Group in the 4th quarter valued at about $202,271,000. 92.64% of the stock is owned by hedge funds and other institutional investors.

Everest Group Trading Down 0.7 %

Shares of NYSE EG traded down $2.48 during midday trading on Monday, reaching $378.54. 91,137 shares of the stock were exchanged, compared to its average volume of 326,953. The company has a 50 day simple moving average of $379.77 and a 200 day simple moving average of $374.81. The stock has a market capitalization of $16.45 billion, a P/E ratio of 5.65, a PEG ratio of 3.34 and a beta of 0.63. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.38 and a current ratio of 0.38. Everest Group, Ltd. has a twelve month low of $333.65 and a twelve month high of $417.92.

Everest Group (NYSE:EG) last announced its quarterly earnings results on Monday, April 29th. The company reported $16.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $15.98 by $0.34. The business had revenue of $4.13 billion during the quarter, compared to the consensus estimate of $4.05 billion. Everest Group had a net margin of 18.69% and a return on equity of 24.86%. The business’s revenue was up 25.8% compared to the same quarter last year. During the same quarter last year, the firm earned $11.31 EPS. As a group, equities analysts expect that Everest Group, Ltd. will post 61.65 earnings per share for the current year.

Everest Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Wednesday, May 29th were given a dividend of $2.00 per share. The ex-dividend date of this dividend was Wednesday, May 29th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.11%. This is a boost from Everest Group’s previous quarterly dividend of $1.75. Everest Group’s dividend payout ratio (DPR) is presently 11.89%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Morgan Stanley cut their price objective on shares of Everest Group from $466.00 to $450.00 and set an “overweight” rating for the company in a report on Monday, April 15th. Keefe, Bruyette & Woods increased their price objective on shares of Everest Group from $445.00 to $457.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Finally, Wells Fargo & Company cut their price objective on shares of Everest Group from $402.00 to $397.00 and set an “equal weight” rating for the company in a report on Thursday, April 11th. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Everest Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $432.11.

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.