Los Angeles Capital Management LLC Lowers Holdings in Everest Group, Ltd. (NYSE:EG)

Los Angeles Capital Management LLC reduced its position in shares of Everest Group, Ltd. (NYSE:EG) by 50.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 185,920 shares of the company’s stock after selling 188,816 shares during the period. Los Angeles Capital Management LLC owned approximately 0.43% of Everest Group worth $70,839,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. American National Bank purchased a new stake in Everest Group in the second quarter valued at approximately $27,000. Massmutual Trust Co. FSB ADV bought a new position in Everest Group in the first quarter valued at $33,000. Heritage Wealth Advisors bought a new position in Everest Group in the fourth quarter valued at $30,000. FinTrust Capital Advisors LLC purchased a new stake in Everest Group during the fourth quarter valued at about $33,000. Finally, Benjamin F. Edwards & Company Inc. bought a new stake in Everest Group during the fourth quarter worth about $35,000. Institutional investors own 92.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on EG shares. 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 research note on Tuesday, August 13th. Barclays started coverage on Everest Group in a report on Wednesday. They set an “overweight” rating and a $527.00 target price for the company. BMO Capital Markets reaffirmed a “market perform” rating and issued a $403.00 price target on shares of Everest Group in a research note on Friday, August 30th. Wells Fargo & Company increased their price objective on Everest Group from $392.00 to $393.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Finally, Morgan Stanley decreased their target price 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. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $439.00.

Everest Group Stock Down 1.6 %

Shares of NYSE EG traded down $6.11 on Friday, reaching $383.39. 283,238 shares of the company’s stock traded hands, compared to its average volume of 328,462. 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 simple moving average is $379.26 and its two-hundred day simple moving average is $378.74. Everest Group, Ltd. has a 12 month low of $343.76 and a 12 month high of $417.92. The company has a market cap of $16.66 billion, a price-to-earnings ratio of 5.70, a price-to-earnings-growth ratio of 2.56 and a beta of 0.62.

Everest Group (NYSE:EG) last issued its earnings results on Wednesday, July 31st. The company reported $16.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $16.97 by ($0.12). Everest Group had a return on equity of 24.09% and a net margin of 18.36%. The firm had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.32 billion. During the same period last year, the firm posted $15.21 earnings per share. The firm’s quarterly revenue was up 15.8% on a year-over-year basis. As a group, equities research analysts forecast that Everest Group, Ltd. will post 61.76 EPS for the current fiscal year.

Everest Group Dividend Announcement

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

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.