Seven Eight Capital LP Boosts Stock Holdings in Everest Group, Ltd. (NYSE:EG)

Seven Eight Capital LP grew its position in shares of Everest Group, Ltd. (NYSE:EG) by 184.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,227 shares of the company’s stock after acquiring an additional 4,041 shares during the quarter. Seven Eight Capital LP’s holdings in Everest Group were worth $2,373,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in EG. American National Bank purchased a new position in shares of Everest Group in the 2nd quarter worth about $27,000. Heritage Wealth Advisors purchased a new position in shares of Everest Group in the 4th quarter worth about $30,000. FinTrust Capital Advisors LLC purchased a new position in shares of Everest Group in the 4th quarter worth about $33,000. Massmutual Trust Co. FSB ADV purchased a new position in shares of Everest Group in the 1st quarter worth about $33,000. Finally, Hollencrest Capital Management boosted its holdings in shares of Everest Group by 575.0% in the 1st quarter. Hollencrest Capital Management now owns 135 shares of the company’s stock worth $54,000 after buying an additional 115 shares during the last quarter. 92.64% of the stock is owned by hedge funds and other institutional investors.

Everest Group Trading Down 0.5 %

Shares of EG opened at $387.54 on Wednesday. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.24. The business’s 50-day moving average price is $381.21 and its 200-day moving average price is $379.63. The stock has a market cap of $16.77 billion, a PE ratio of 5.76, a P/E/G ratio of 2.64 and a beta of 0.62. Everest Group, Ltd. has a twelve month low of $343.76 and a twelve month high of $417.92.

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 company had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.32 billion. Everest Group had a return on equity of 24.09% and a net margin of 18.36%. The firm’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same quarter last year, the company posted $15.21 earnings per share. On average, equities analysts forecast that Everest Group, Ltd. will post 61.66 EPS for the current fiscal year.

Everest Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Monday, September 16th will be given a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend is Monday, September 16th. Everest Group’s dividend payout ratio (DPR) is 11.89%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company boosted their price target on shares of Everest Group from $392.00 to $393.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. BMO Capital Markets restated a “market perform” rating and issued a $403.00 price objective on shares of Everest Group in a research note on Friday, August 30th. TD Cowen lowered their price objective on Everest Group from $419.00 to $405.00 and set a “hold” rating on the stock in a research note on Tuesday, August 13th. Keefe, Bruyette & Woods lowered their price objective on Everest Group from $454.00 to $438.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Finally, Morgan Stanley lowered their price objective on Everest Group from $450.00 to $445.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 10th. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Everest Group presently has a consensus rating of “Moderate Buy” and an average price target of $438.09.

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.