Everest Group, Ltd. $EG Shares Acquired by Cerity Partners LLC

Cerity Partners LLC grew its position in shares of Everest Group, Ltd. (NYSE:EG) by 14.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,907 shares of the company’s stock after purchasing an additional 3,754 shares during the quarter. Cerity Partners LLC owned approximately 0.07% of Everest Group worth $10,164,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in EG. SVB Wealth LLC purchased a new position in Everest Group in the first quarter valued at $30,000. Zions Bancorporation National Association UT acquired a new stake in shares of Everest Group during the 1st quarter valued at about $34,000. Board of the Pension Protection Fund acquired a new stake in shares of Everest Group during the 2nd quarter valued at about $34,000. WPG Advisers LLC purchased a new position in shares of Everest Group in the 1st quarter valued at about $37,000. Finally, Allworth Financial LP raised its holdings in Everest Group by 96.8% in the 2nd quarter. Allworth Financial LP now owns 183 shares of the company’s stock worth $62,000 after purchasing an additional 90 shares during the period. 92.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on EG. Raymond James Financial restated an “outperform” rating and issued a $350.00 price objective on shares of Everest Group in a research report on Monday, November 3rd. Evercore ISI increased their price objective on shares of Everest Group from $380.00 to $384.00 and gave the company an “in-line” rating in a report on Wednesday, October 1st. Keefe, Bruyette & Woods cut their target price on shares of Everest Group from $424.00 to $400.00 and set an “outperform” rating for the company in a research note on Thursday, October 30th. Cowen reaffirmed a “hold” rating on shares of Everest Group in a research note on Tuesday, October 7th. Finally, Citigroup started coverage on Everest Group in a report on Wednesday, August 13th. They issued a “neutral” rating and a $362.00 price objective on the stock. Five investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, Everest Group currently has an average rating of “Hold” and an average target price of $368.77.

Everest Group Stock Performance

NYSE:EG opened at $315.59 on Thursday. Everest Group, Ltd. has a twelve month low of $302.44 and a twelve month high of $373.23. The company has a market cap of $13.25 billion, a P/E ratio of 24.04, a P/E/G ratio of 0.27 and a beta of 0.39. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.23. The company’s 50-day moving average price is $328.49 and its 200-day moving average price is $335.06.

Everest Group (NYSE:EG) last released its quarterly earnings data on Monday, October 27th. The company reported $7.54 EPS for the quarter, missing analysts’ consensus estimates of $13.39 by ($5.85). Everest Group had a net margin of 3.12% and a return on equity of 3.74%. The business had revenue of $4.32 billion during the quarter, compared to analyst estimates of $3.86 billion. During the same quarter in the previous year, the company posted $11.80 EPS. The firm’s revenue was up .8% on a year-over-year basis. On average, sell-side analysts forecast that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Wednesday, November 26th will be given a dividend of $2.00 per share. The ex-dividend date is Wednesday, November 26th. This represents a $8.00 dividend on an annualized basis and a yield of 2.5%. Everest Group’s dividend payout ratio (DPR) is presently 60.93%.

Insider Buying and Selling

In related news, Director Allan Levine purchased 3,100 shares of Everest Group stock in a transaction dated Wednesday, October 29th. The shares were acquired at an average price of $306.08 per share, for a total transaction of $948,848.00. Following the acquisition, the director directly owned 4,153 shares in the company, valued at approximately $1,271,150.24. The trade was a 294.40% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William F. Galtney, Jr. acquired 11,385 shares of the business’s stock in a transaction that occurred on Wednesday, October 29th. The shares were purchased at an average price of $307.38 per share, with a total value of $3,499,521.30. Following the completion of the transaction, the director owned 45,491 shares of the company’s stock, valued at $13,983,023.58. The trade was a 33.38% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 1.10% of the company’s stock.

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.