Royal London Asset Management Ltd. makes new investment in Everest Group, Ltd. (NYSE:EG)

Royal London Asset Management Ltd. acquired a new position in Everest Group, Ltd. in the fourth quarter. (NYSE:EG – Free Report), the company said in its most recent filing with the SEC. The company acquired 18,050 shares of the company, valued at approximately $6,382,000.

Other hedge funds have also recently bought and sold shares of the company. Allworth Financial LP bought a new stake in Everest Group worth about $25,000 in the fourth quarter. Avior Wealth Management LLC bought a new stake in Everest Group in the fourth quarter worth approximately $25,000. Headlands Technologies LLC bought a new stake in Everest Group in the fourth quarter worth approximately $25,000. Janiczek Wealth Management LLC bought a new stake in Everest Group in the fourth quarter worth approximately $27,000. Finally, Trifecta Capital Advisors LLC purchased a new stake in Everest Group in the fourth quarter valued at approximately $28,000. 92.64% of the shares are currently held by institutional investors.

Analyst upgrades and downgrades

Several analysts have recently weighed in on EG stock. Morgan Stanley lowered their price objective on shares of Everest Group from $466.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, April 15. Wells Fargo & Company cut their price target on shares of Everest Group from $402.00 to $397.00 and gave the stock an “equalweight” rating in a research report on Thursday, April 11. Finally, Keefe, Bruyette & Woods raised their price target on shares of Everest Group from $445.00 to $457.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Everest Group currently has an average rating of “Moderate Buy” and a consensus price target of $432.11.

Check out our latest stock analysis on EG

Everest Group Price Performance

Shares of EG fell $6.87 in afternoon trading on Friday, reaching $367.56. The company’s stock had a trading volume of 203,745 shares, compared to its average volume of 197,189. The company has a 50-day moving average of $377.15 and a 200-day moving average of $376.31. The stock has a market cap of $15.97 billion, a price-to-earnings ratio of 5.47, a PEG ratio of 3.28 and a beta of 0.62. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.38 and a quick ratio of 0.38. Everest Group, Ltd. has a fifty-two week low of $331.08 and a fifty-two week high of $417.92.

Everest Group (NYSE:EG – Get Free Report) last reported its quarterly earnings data on Monday, April 29. The company reported $16.32 earnings per share for the quarter, beating the consensus estimate of $15.98 by $0.34. The company had revenue of $4.13 billion for the quarter, compared to analyst expectations of $4.05 billion. Everest Group had a net margin of 18.69% and a return on equity of 24.86%. The company’s revenue increased by 25.8% compared to the same quarter last year. During the same quarter of the previous year, the company posted earnings per share of $11.31. On average, research analysts predict that Everest Group, Ltd. will record a profit per share of 61.65 for the current financial year.

Everest Group increases dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 14. A dividend of $2.00 was paid to shareholders of record on Wednesday, May 29th. The ex-dividend date of this dividend was Wednesday, May 29. This represents an annualized dividend of $8.00 and a dividend yield of 2.18%. This is a boost from Everest Group’s previous quarterly dividend of $1.75. Everest Group’s payout ratio currently stands at 11.89%.

Everest group profile

(Free report)

Everest Group, Ltd. through its subsidiaries, provides reinsurance and insurance products in the United States, Europe and internationally. The company operates through two segments: 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.

Read further

Would you like to see what other hedge funds own EG? Visit HoldingsChannel.com for the latest 13F filings and insider transactions for Everest Group, Ltd. (NYSE:EG – Free Report).

Institutional Ownership by Quarter for Everest Group (NYSE:EG)

This instant news alert was generated by narrative science technology and financial data from MarketBeat to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat editorial staff before publication. Send any questions or comments about this story to [email protected].

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