Everest Group, Ltd. (NYSE:EG) Shares Acquired by William Blair Investment Management LLC

William Blair Investment Management LLC lifted its position in shares of Everest Group, Ltd. (NYSE:EG) by 30.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 580,171 shares of the company’s stock after buying an additional 134,517 shares during the period. William Blair Investment Management LLC owned approximately 1.34% of Everest Group worth $221,057,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. American National Bank purchased a new position in shares of Everest Group during the 2nd quarter worth approximately $27,000. Heritage Wealth Advisors purchased a new position in Everest Group in the 4th quarter valued at approximately $30,000. FinTrust Capital Advisors LLC purchased a new position in Everest Group in the 4th quarter valued at approximately $33,000. Massmutual Trust Co. FSB ADV purchased a new position in Everest Group in the 1st quarter valued at approximately $33,000. Finally, Hollencrest Capital Management boosted its position in Everest Group by 575.0% in the 1st quarter. Hollencrest Capital Management now owns 135 shares of the company’s stock valued at $54,000 after buying an additional 115 shares during the period. Institutional investors and hedge funds own 92.64% of the company’s stock.

Everest Group Price Performance

Shares of NYSE:EG opened at $382.75 on Friday. The company’s fifty day moving average price is $380.58 and its 200 day moving average price is $379.22. Everest Group, Ltd. has a 12 month low of $343.76 and a 12 month high of $417.92. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.38 and a quick ratio of 0.38. The firm has a market capitalization of $16.63 billion, a P/E ratio of 5.69, a P/E/G ratio of 2.46 and a beta of 0.62.

Everest Group (NYSE:EG) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $16.85 EPS for the quarter, missing the consensus estimate of $16.97 by ($0.12). The company had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.32 billion. Everest Group had a return on equity of 24.09% and a net margin of 18.36%. Everest Group’s revenue was up 15.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $15.21 earnings per share. As a group, sell-side analysts predict that Everest Group, Ltd. will post 61.66 earnings per share for the current fiscal year.

Everest Group Announces Dividend

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

Analyst Ratings Changes

Several brokerages have commented on EG. Barclays began coverage on shares of Everest Group in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $527.00 price target for the company. Keefe, Bruyette & Woods decreased their price target on shares of Everest Group from $454.00 to $438.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Wells Fargo & Company raised their price objective on shares of Everest Group from $392.00 to $393.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. TD Cowen reduced their price objective on shares of Everest Group from $419.00 to $405.00 and set a “hold” rating on the stock in a report on Tuesday, August 13th. Finally, Morgan Stanley reduced their price objective on shares of Everest Group from $450.00 to $445.00 and set an “overweight” rating on the stock in a report on Wednesday, July 10th. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $438.09.

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.