QRG Capital Management Inc. Raises Stock Position in Everest Group, Ltd. (NYSE:EG)

QRG Capital Management Inc. lifted its holdings in Everest Group, Ltd. (NYSE:EG) by 0.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 38,715 shares of the company’s stock after acquiring an additional 150 shares during the quarter. QRG Capital Management Inc.’s holdings in Everest Group were worth $14,033,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brooklyn Investment Group purchased a new stake in shares of Everest Group in the 3rd quarter worth about $39,000. Private Trust Co. NA grew its position in Everest Group by 51.7% during the 3rd quarter. Private Trust Co. NA now owns 132 shares of the company’s stock valued at $52,000 after purchasing an additional 45 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Everest Group during the 3rd quarter valued at about $64,000. Avior Wealth Management LLC grew its position in Everest Group by 22.4% during the 4th quarter. Avior Wealth Management LLC now owns 257 shares of the company’s stock valued at $93,000 after purchasing an additional 47 shares during the last quarter. Finally, Steph & Co. grew its position in Everest Group by 10.6% during the 4th quarter. Steph & Co. now owns 366 shares of the company’s stock valued at $133,000 after purchasing an additional 35 shares during the last quarter. 92.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on EG. TD Cowen cut their price objective on shares of Everest Group from $444.00 to $419.00 and set a “hold” rating on the stock in a research report on Monday, November 18th. Keefe, Bruyette & Woods increased their price objective on shares of Everest Group from $420.00 to $434.00 and gave the company an “outperform” rating in a research report on Friday, January 10th. Barclays upped their target price on shares of Everest Group from $461.00 to $470.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Jefferies Financial Group cut shares of Everest Group from a “buy” rating to a “hold” rating and upped their target price for the company from $420.00 to $429.00 in a research note on Tuesday, November 26th. Finally, Wells Fargo & Company lowered their target price on shares of Everest Group from $390.00 to $380.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $416.50.

Everest Group Price Performance

Shares of NYSE:EG opened at $348.15 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.40 and a quick ratio of 0.40. Everest Group, Ltd. has a 1-year low of $327.37 and a 1-year high of $407.30. The company has a market capitalization of $14.96 billion, a P/E ratio of 11.08, a P/E/G ratio of 0.24 and a beta of 0.65. The firm’s 50 day simple moving average is $352.65 and its two-hundred day simple moving average is $370.08.

Everest Group (NYSE:EG) last issued its quarterly earnings results on Monday, February 3rd. The company reported ($18.39) earnings per share for the quarter, missing the consensus estimate of $11.64 by ($30.03). Everest Group had a net margin of 7.95% and a return on equity of 9.04%. Research analysts expect that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 17th will be given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 2.30%. Everest Group’s payout ratio is currently 25.47%.

Everest Group 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.