Los Angeles Capital Management LLC Sells 188,816 Shares of Everest Group, Ltd. (NYSE:EG)

Los Angeles Capital Management LLC cut its holdings in Everest Group, Ltd. (NYSE:EG) by 50.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 185,920 shares of the company’s stock after selling 188,816 shares during the period. Los Angeles Capital Management LLC’s holdings in Everest Group were worth $70,839,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. purchased a new stake in Everest Group in the 4th quarter worth approximately $1,886,055,000. Wellington Management Group LLP purchased a new stake in shares of Everest Group in the fourth quarter worth $751,457,000. Boston Partners raised its position in shares of Everest Group by 29.1% during the 1st quarter. Boston Partners now owns 1,197,457 shares of the company’s stock valued at $475,750,000 after purchasing an additional 269,665 shares during the period. Franklin Resources Inc. purchased a new position in shares of Everest Group during the 4th quarter valued at $373,130,000. Finally, Champlain Investment Partners LLC boosted its holdings in Everest Group by 5.3% in the 1st quarter. Champlain Investment Partners LLC now owns 906,100 shares of the company’s stock worth $360,175,000 after buying an additional 45,705 shares during the period. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Everest Group Trading Down 1.6 %

EG stock traded down $6.11 during midday trading on Friday, reaching $383.39. 283,238 shares of the company traded hands, compared to its average volume of 328,462. The firm has a market capitalization of $16.66 billion, a price-to-earnings ratio of 5.70, a P/E/G ratio of 2.56 and a beta of 0.62. Everest Group, Ltd. has a 52-week low of $343.76 and a 52-week high of $417.92. The business has a 50 day moving average of $379.26 and a 200-day moving average of $378.74. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.38 and a current ratio of 0.38.

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 the consensus estimate of $16.97 by ($0.12). The company had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.32 billion. Everest Group had a net margin of 18.36% and a return on equity of 24.09%. The business’s quarterly revenue was up 15.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $15.21 EPS. As a group, sell-side analysts expect that Everest Group, Ltd. will post 61.76 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Monday, September 16th will be paid a dividend of $2.00 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.09%. Everest Group’s dividend payout ratio is presently 11.89%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on EG shares. Bank of America raised their price target on Everest Group from $470.00 to $493.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Morgan Stanley lowered their price target on Everest Group from $450.00 to $445.00 and set an “overweight” rating on the stock in a report on Wednesday, July 10th. TD Cowen cut their price objective on shares of Everest Group from $419.00 to $405.00 and set a “hold” rating for the company in a report on Tuesday, August 13th. Wells Fargo & Company lifted their price objective on shares of Everest Group from $392.00 to $393.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Everest Group from $454.00 to $438.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Four investment 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 company. According to MarketBeat, Everest Group presently has an average rating of “Moderate Buy” and a consensus target price of $439.00.

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.