Everest Group, Ltd. (NYSE:EG) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC decreased its position in Everest Group, Ltd. (NYSE:EG) by 1.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 7,897 shares of the company’s stock after selling 156 shares during the period. Wedge Capital Management L L P NC’s holdings in Everest Group were worth $3,094,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. SG Americas Securities LLC raised its stake in shares of Everest Group by 284.8% during the third quarter. SG Americas Securities LLC now owns 24,556 shares of the company’s stock valued at $9,622,000 after purchasing an additional 18,175 shares in the last quarter. Perpetual Ltd increased its stake in Everest Group by 92.0% during the 1st quarter. Perpetual Ltd now owns 4,724 shares of the company’s stock valued at $1,878,000 after buying an additional 2,264 shares during the period. Diversified Trust Co bought a new stake in shares of Everest Group during the 1st quarter worth about $1,621,000. Gilman Hill Asset Management LLC acquired a new stake in shares of Everest Group in the 1st quarter worth approximately $2,600,000. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Everest Group by 163.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,772 shares of the company’s stock valued at $1,897,000 after acquiring an additional 2,964 shares in the last quarter. Institutional investors and hedge funds own 92.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on EG. TD Cowen cut their target price on Everest Group from $419.00 to $405.00 and set a “hold” rating for the company in a research report on Tuesday, August 13th. Barclays began coverage on Everest Group in a report on Wednesday, September 4th. They issued an “overweight” rating and a $527.00 price objective for the company. Wells Fargo & Company lifted their target price on Everest Group from $393.00 to $406.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Bank of America cut their price target on shares of Everest Group from $496.00 to $485.00 and set a “buy” rating for the company in a report on Thursday, October 10th. Finally, Morgan Stanley lowered their price objective on shares of Everest Group from $450.00 to $445.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 10th. Five research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Everest Group currently has a consensus rating of “Moderate Buy” and an average target price of $439.27.

Everest Group Stock Performance

Everest Group stock opened at $388.24 on Wednesday. Everest Group, Ltd. has a fifty-two week low of $343.76 and a fifty-two week high of $417.92. The firm’s 50 day simple moving average is $384.33 and its 200-day simple moving average is $380.47. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.38 and a quick ratio of 0.38. The company has a market cap of $16.87 billion, a P/E ratio of 5.77, a price-to-earnings-growth ratio of 2.70 and a beta of 0.61.

Everest Group (NYSE:EG) last posted its quarterly earnings data 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 firm had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.32 billion. Everest Group had a return on equity of 24.09% and a net margin of 18.36%. The company’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $15.21 earnings per share. As a group, equities research analysts predict that Everest Group, Ltd. will post 61.78 EPS for the current year.

Everest Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Monday, September 16th were given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 2.06%. The ex-dividend date was Monday, September 16th. Everest Group’s payout ratio is 11.89%.

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.