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

Wedge Capital Management L L P NC decreased its holdings in Everest Group, Ltd. (NYSE:EG) by 1.9% during the 3rd quarter, according to its most recent disclosure with the SEC. 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 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of EG. Csenge Advisory Group boosted its position in shares of Everest Group by 2.2% in the second quarter. Csenge Advisory Group now owns 1,239 shares of the company’s stock worth $472,000 after buying an additional 27 shares during the period. Legend Financial Advisors Inc. raised its holdings in shares of Everest Group by 1.6% during the 2nd quarter. Legend Financial Advisors Inc. now owns 1,765 shares of the company’s stock valued at $672,000 after buying an additional 27 shares during the period. First Trust Direct Indexing L.P. lifted its position in Everest Group by 0.9% during the 1st quarter. First Trust Direct Indexing L.P. now owns 2,976 shares of the company’s stock worth $1,183,000 after acquiring an additional 28 shares in the last quarter. Wedmont Private Capital boosted its holdings in Everest Group by 4.8% in the 3rd quarter. Wedmont Private Capital now owns 638 shares of the company’s stock worth $238,000 after acquiring an additional 29 shares during the period. Finally, Massmutual Trust Co. FSB ADV grew its position in Everest Group by 36.9% in the second quarter. Massmutual Trust Co. FSB ADV now owns 115 shares of the company’s stock valued at $44,000 after acquiring an additional 31 shares in the last quarter. 92.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on EG shares. UBS Group raised shares of Everest Group to a “hold” rating in a research report on Wednesday, October 9th. Keefe, Bruyette & Woods decreased their price objective on shares of Everest Group from $454.00 to $438.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Jefferies Financial Group lifted their target price on Everest Group from $440.00 to $457.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Morgan Stanley cut their price target 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. Finally, BMO Capital Markets restated a “market perform” rating and set a $403.00 price objective on shares of Everest Group in a research note on Friday, August 30th. Five analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $439.27.

Everest Group Price Performance

Shares of NYSE EG opened at $388.24 on Wednesday. The business has a 50 day simple moving average of $384.33 and a 200-day simple moving average of $380.47. Everest Group, Ltd. has a twelve month low of $343.76 and a twelve month high of $417.92. The company has a market capitalization of $16.87 billion, a price-to-earnings ratio of 5.77, a price-to-earnings-growth ratio of 2.70 and a beta of 0.61. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.24.

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

Everest Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Monday, September 16th were issued a $2.00 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $8.00 dividend on an annualized basis and a yield of 2.06%. 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.