Lazard Asset Management LLC Has $26.91 Million Stock Holdings in Everest Group, Ltd. (NYSE:EG)

Lazard Asset Management LLC grew its position in Everest Group, Ltd. (NYSE:EG) by 50.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 67,710 shares of the company’s stock after acquiring an additional 22,662 shares during the quarter. Lazard Asset Management LLC owned 0.16% of Everest Group worth $26,914,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. 1832 Asset Management L.P. boosted its position in shares of Everest Group by 3.5% during the 1st quarter. 1832 Asset Management L.P. now owns 5,771 shares of the company’s stock valued at $2,294,000 after acquiring an additional 193 shares in the last quarter. Delap Wealth Advisory LLC bought a new position in Everest Group during the 1st quarter valued at about $201,000. Shell Asset Management Co. raised its stake in shares of Everest Group by 52.2% in the first quarter. Shell Asset Management Co. now owns 15,791 shares of the company’s stock worth $6,277,000 after acquiring an additional 5,414 shares during the last quarter. Natixis raised its stake in shares of Everest Group by 551.7% in the first quarter. Natixis now owns 23,492 shares of the company’s stock worth $9,338,000 after acquiring an additional 19,887 shares during the last quarter. Finally, Bessemer Group Inc. lifted its position in shares of Everest Group by 31.4% during the first quarter. Bessemer Group Inc. now owns 921 shares of the company’s stock worth $366,000 after purchasing an additional 220 shares in the last quarter. Institutional investors and hedge funds own 92.64% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Everest Group Stock Performance

Shares of Everest Group stock opened at $382.93 on Monday. Everest Group, Ltd. has a 12 month low of $343.36 and a 12 month high of $417.92. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $16.64 billion, a PE ratio of 5.69, a PEG ratio of 1.98 and a beta of 0.63. The stock’s fifty day simple moving average is $381.95 and its 200 day simple moving average is $377.66.

Everest Group (NYSE:EG) last announced its earnings results on Monday, April 29th. The company reported $16.32 EPS for the quarter, topping the consensus estimate of $15.98 by $0.34. The firm had revenue of $4.13 billion for the quarter, compared to the consensus estimate of $4.05 billion. Everest Group had a net margin of 18.69% and a return on equity of 24.86%. The business’s quarterly revenue was up 25.8% on a year-over-year basis. During the same period last year, the company posted $11.31 EPS. On average, research analysts predict that Everest Group, Ltd. will post 61.25 EPS for the current year.

Everest Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Wednesday, May 29th were 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%. This is a positive change from Everest Group’s previous quarterly dividend of $1.75. The ex-dividend date of this dividend was Wednesday, May 29th. Everest Group’s dividend payout ratio (DPR) 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.