CX Institutional Sells 305 Shares of Everest Group, Ltd. $EG

CX Institutional decreased its stake in Everest Group, Ltd. (NYSE:EG) by 63.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 177 shares of the company’s stock after selling 305 shares during the quarter. CX Institutional’s holdings in Everest Group were worth $60,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Truist Financial Corp increased its stake in Everest Group by 16.9% during the 1st quarter. Truist Financial Corp now owns 108,596 shares of the company’s stock worth $39,456,000 after purchasing an additional 15,660 shares in the last quarter. Fifth Third Bancorp boosted its holdings in Everest Group by 18.1% during the first quarter. Fifth Third Bancorp now owns 1,151 shares of the company’s stock worth $418,000 after purchasing an additional 176 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in Everest Group by 12.2% during the first quarter. Envestnet Asset Management Inc. now owns 172,718 shares of the company’s stock worth $62,753,000 after purchasing an additional 18,780 shares during the last quarter. Wedge Capital Management L L P NC raised its position in Everest Group by 14.3% during the first quarter. Wedge Capital Management L L P NC now owns 9,871 shares of the company’s stock worth $3,586,000 after acquiring an additional 1,235 shares in the last quarter. Finally, SG Americas Securities LLC raised its position in Everest Group by 127.3% during the first quarter. SG Americas Securities LLC now owns 5,842 shares of the company’s stock worth $2,123,000 after acquiring an additional 3,272 shares in the last quarter. Institutional investors and hedge funds own 92.64% of the company’s stock.

Everest Group Trading Up 2.4%

NYSE:EG opened at $346.14 on Thursday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.38 and a current ratio of 0.38. The firm’s fifty day moving average is $337.05 and its 200-day moving average is $342.98. Everest Group, Ltd. has a 52 week low of $320.00 and a 52 week high of $407.30. The firm has a market cap of $14.52 billion, a P/E ratio of 18.37, a P/E/G ratio of 0.25 and a beta of 0.51.

Everest Group (NYSE:EG) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $17.36 earnings per share for the quarter, topping the consensus estimate of $15.14 by $2.22. The firm had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.22 billion. Everest Group had a return on equity of 5.89% and a net margin of 4.56%.The business’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period last year, the company posted $16.85 EPS. Equities analysts expect that Everest Group, Ltd. will post 47.93 earnings per share for the current year.

Everest Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Wednesday, September 3rd were paid a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Wednesday, September 3rd. Everest Group’s payout ratio is 42.46%.

Analysts Set New Price Targets

EG has been the topic of several research analyst reports. Wolfe Research raised shares of Everest Group to a “strong sell” rating in a research report on Tuesday, September 16th. Barclays raised their price target on Everest Group from $394.00 to $398.00 and gave the stock an “overweight” rating in a research report on Monday, July 7th. Cantor Fitzgerald upgraded Everest Group to a “hold” rating in a research note on Wednesday, August 13th. Raymond James Financial set a $375.00 target price on shares of Everest Group and gave the stock an “outperform” rating in a report on Monday. Finally, Janney Montgomery Scott began coverage on Everest Group in a report on Friday, June 20th. They set a “buy” rating and a $425.00 price objective on the stock. Six equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $387.47.

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.