Massmutual Trust Co. FSB ADV Boosts Holdings in Everest Group, Ltd. (NYSE:EG)

Massmutual Trust Co. FSB ADV increased its position in Everest Group, Ltd. (NYSE:EG) by 36.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115 shares of the company’s stock after purchasing an additional 31 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in Everest Group were worth $44,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. purchased a new stake in Everest Group during the fourth quarter valued at $1,886,055,000. Wellington Management Group LLP bought a new position in shares of Everest Group in the fourth quarter worth approximately $751,457,000. Franklin Resources Inc. bought a new position in shares of Everest Group in the fourth quarter worth approximately $373,130,000. Boston Partners bought a new stake in shares of Everest Group during the 4th quarter valued at $328,064,000. Finally, Norges Bank purchased a new position in shares of Everest Group during the 4th quarter valued at $202,271,000. Institutional investors own 92.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on EG shares. Bank of America boosted their price objective on Everest Group from $470.00 to $493.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Keefe, Bruyette & Woods reduced their price objective on shares of Everest Group from $457.00 to $454.00 and set an “outperform” rating on the stock in a research report on Friday, July 12th. Wells Fargo & Company lowered their target price on shares of Everest Group from $402.00 to $397.00 and set an “equal weight” rating on the stock in a report on Thursday, April 11th. Finally, Morgan Stanley cut their target price on shares of Everest Group from $450.00 to $445.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. Three equities 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 stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $437.40.

Everest Group Trading Up 0.7 %

Shares of NYSE:EG opened at $358.64 on Wednesday. The company has a market capitalization of $15.59 billion, a PE ratio of 5.33, a PEG ratio of 1.88 and a beta of 0.63. Everest Group, Ltd. has a 12-month low of $343.36 and a 12-month high of $417.92. The business has a 50 day moving average of $379.37 and a two-hundred day moving average of $377.82. The company has a current ratio of 0.36, a quick ratio of 0.38 and a debt-to-equity ratio of 0.24.

Everest Group (NYSE:EG) last released its quarterly earnings results on Wednesday, July 31st. The company reported $16.85 earnings per share for the quarter, missing analysts’ consensus estimates of $16.97 by ($0.12). The business had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.32 billion. Everest Group had a return on equity of 24.09% and a net margin of 18.36%. The business’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same period in the previous year, the company posted $15.21 EPS. As a group, analysts forecast that Everest Group, Ltd. will post 61.66 EPS for the current year.

Everest Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Wednesday, May 29th were paid a $2.00 dividend. This is an increase from Everest Group’s previous quarterly dividend of $1.75. This represents a $8.00 annualized dividend and a yield of 2.23%. The ex-dividend date was Wednesday, May 29th. Everest Group’s dividend payout ratio is currently 11.89%.

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.