Lbp Am Sa Trims Position in Everest Group, Ltd. (NYSE:EG)

Lbp Am Sa lessened its position in shares of Everest Group, Ltd. (NYSE:EG) by 9.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,237 shares of the company’s stock after selling 329 shares during the quarter. Lbp Am Sa’s holdings in Everest Group were worth $1,287,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of EG. Allworth Financial LP purchased a new stake in Everest Group during the fourth quarter valued at $25,000. Avior Wealth Management LLC purchased a new stake in Everest Group in the fourth quarter worth about $25,000. Headlands Technologies LLC purchased a new stake in Everest Group in the fourth quarter worth about $25,000. Janiczek Wealth Management LLC purchased a new stake in Everest Group in the fourth quarter worth about $27,000. Finally, Trifecta Capital Advisors LLC purchased a new stake in Everest Group in the fourth quarter worth about $28,000. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Keefe, Bruyette & Woods reduced their price target on Everest Group from $457.00 to $454.00 and set an “outperform” rating for the company in a research report on Friday, July 12th. Morgan Stanley reduced their price target on Everest Group from $450.00 to $445.00 and set an “overweight” rating for the company in a research report on Wednesday, July 10th. Bank of America upped their price target on Everest Group from $470.00 to $493.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Finally, Wells Fargo & Company cut their target price on Everest Group from $402.00 to $397.00 and set an “equal weight” rating for the company in a research report on Thursday, April 11th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Everest Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $437.40.

Everest Group Price Performance

Everest Group stock traded down $24.53 during midday trading on Thursday, reaching $368.34. 830,764 shares of the stock traded hands, compared to its average volume of 332,845. The stock’s fifty day moving average is $381.61 and its 200-day moving average is $377.97. Everest Group, Ltd. has a 12 month low of $343.36 and a 12 month high of $417.92. The stock has a market cap of $16.01 billion, a P/E ratio of 5.47, a PEG ratio of 2.01 and a beta of 0.63. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.25.

Everest Group (NYSE:EG) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $16.85 EPS for the quarter, missing analysts’ consensus estimates of $16.97 by ($0.12). Everest Group had a net margin of 18.69% and a return on equity of 24.86%. The firm had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.32 billion. During the same period in the previous year, the company posted $15.21 earnings per share. Everest Group’s quarterly revenue was up 15.8% on a year-over-year basis. As a group, equities research analysts anticipate that Everest Group, Ltd. will post 61.25 EPS for the current year.

Everest Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Wednesday, May 29th were paid a dividend of $2.00 per share. The ex-dividend date was Wednesday, May 29th. This is a positive change from Everest Group’s previous quarterly dividend of $1.75. This represents a $8.00 dividend on an annualized basis and a yield of 2.17%. Everest Group’s dividend payout ratio is presently 11.89%.

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.