DekaBank Deutsche Girozentrale Acquires 2,546 Shares of Everest Group, Ltd. (NYSE:EG)

DekaBank Deutsche Girozentrale lifted its stake in Everest Group, Ltd. (NYSE:EG) by 8.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,985 shares of the company’s stock after purchasing an additional 2,546 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Everest Group were worth $13,363,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Allworth Financial LP acquired a new position in Everest Group in the fourth quarter valued at about $25,000. Avior Wealth Management LLC bought a new stake in shares of Everest Group in the 4th quarter valued at about $25,000. Headlands Technologies LLC acquired a new stake in shares of Everest Group in the 4th quarter valued at approximately $25,000. Janiczek Wealth Management LLC bought a new position in Everest Group during the 4th quarter worth approximately $27,000. Finally, Trifecta Capital Advisors LLC bought a new position in Everest Group during the 4th quarter worth approximately $28,000. 92.64% of the stock is owned by institutional investors and hedge funds.

Everest Group Stock Down 1.1 %

Shares of NYSE:EG traded down $4.21 during mid-day trading on Friday, reaching $364.13. 407,891 shares of the stock were exchanged, compared to its average volume of 366,346. The company has a market cap of $15.83 billion, a P/E ratio of 5.41, a P/E/G ratio of 1.90 and a beta of 0.63. The stock’s 50 day simple moving average is $380.68 and its 200-day simple moving average is $377.86. The company has a quick ratio of 0.38, a current ratio of 0.36 and a debt-to-equity ratio of 0.24. Everest Group, Ltd. has a one year low of $343.36 and a one year high of $417.92.

Everest Group (NYSE:EG) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $16.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $16.97 by ($0.12). Everest Group had a net margin of 18.36% and a return on equity of 24.09%. The business had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.32 billion. During the same quarter last year, the business earned $15.21 earnings per share. Everest Group’s revenue for the quarter was up 15.8% on a year-over-year basis. As a group, equities research analysts predict that Everest Group, Ltd. will post 61.44 EPS for the current year.

Everest Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Wednesday, May 29th were given a dividend of $2.00 per share. The ex-dividend date was Wednesday, May 29th. This is a boost from Everest Group’s previous quarterly dividend of $1.75. This represents a $8.00 annualized dividend and a yield of 2.20%. Everest Group’s payout ratio is 11.89%.

Analysts Set New Price Targets

EG has been the topic of several analyst reports. Wells Fargo & Company cut their target price on shares of Everest Group from $402.00 to $397.00 and set an “equal weight” rating on the stock in a report on Thursday, April 11th. Bank of America lifted their target price on Everest Group from $470.00 to $493.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Keefe, Bruyette & Woods lowered their price target on Everest Group from $457.00 to $454.00 and set an “outperform” rating for the company in a report on Friday, July 12th. Finally, Morgan Stanley cut their price objective on Everest Group from $450.00 to $445.00 and set an “overweight” rating on the stock in a report on Wednesday, July 10th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $437.40.

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.