Lecap Asset Management Ltd. Buys New Position in Everest Group, Ltd. (NYSE:EG)

Lecap Asset Management Ltd. purchased a new position in shares of Everest Group, Ltd. (NYSE:EG) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,086 shares of the company’s stock, valued at approximately $3,168,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of EG. Boston Partners raised its stake in shares of Everest Group by 29.1% in the first quarter. Boston Partners now owns 1,197,457 shares of the company’s stock valued at $475,750,000 after acquiring an additional 269,665 shares in the last quarter. AQR Capital Management LLC raised its position in Everest Group by 1.8% in the 2nd quarter. AQR Capital Management LLC now owns 1,032,479 shares of the company’s stock valued at $393,395,000 after purchasing an additional 17,885 shares in the last quarter. Champlain Investment Partners LLC boosted its stake in shares of Everest Group by 5.3% in the 1st quarter. Champlain Investment Partners LLC now owns 906,100 shares of the company’s stock valued at $360,175,000 after buying an additional 45,705 shares during the period. William Blair Investment Management LLC grew its position in shares of Everest Group by 30.2% during the second quarter. William Blair Investment Management LLC now owns 580,171 shares of the company’s stock worth $221,057,000 after buying an additional 134,517 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Everest Group by 7.7% during the second quarter. Dimensional Fund Advisors LP now owns 535,121 shares of the company’s stock worth $203,891,000 after buying an additional 38,254 shares during the period. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on EG. UBS Group upgraded shares of Everest Group to a “hold” rating in a report on Wednesday, October 9th. Barclays initiated coverage on shares of Everest Group in a research note on Wednesday, September 4th. They set an “overweight” rating and a $527.00 target price for the company. TD Cowen cut their price target 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. BMO Capital Markets reaffirmed a “market perform” rating and set a $403.00 price objective on shares of Everest Group in a research report on Friday, August 30th. Finally, Bank of America cut their target price on Everest Group from $496.00 to $485.00 and set a “buy” rating on the stock in a research report on Thursday, October 10th. Five analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $439.27.

Everest Group Price Performance

EG stock opened at $385.35 on Wednesday. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $16.59 billion, a P/E ratio of 5.69, a PEG ratio of 2.70 and a beta of 0.61. The business has a 50 day simple moving average of $386.62 and a 200-day simple moving average of $380.41. Everest Group, Ltd. has a twelve month low of $343.76 and a twelve month high of $417.92.

Everest Group (NYSE:EG) last issued 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). 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 quarter in the prior year, the company earned $15.21 EPS. The firm’s revenue for the quarter was up 15.8% on a year-over-year basis. As a group, equities analysts anticipate that Everest Group, Ltd. will post 60.97 EPS for the current year.

Everest Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Monday, September 16th were paid a dividend of $2.00 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $8.00 annualized dividend and a dividend yield of 2.08%. Everest Group’s dividend payout ratio (DPR) is 11.81%.

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.