AustralianSuper Pty Ltd Purchases Shares of 18,316 Everest Group, Ltd. (NYSE:EG)

AustralianSuper Pty Ltd acquired a new stake in Everest Group, Ltd. (NYSE:EG - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 18,316 shares of the company's stock, valued at approximately $7,177,000.

Other institutional investors have also recently made changes to their positions in the company. American National Bank purchased a new stake in Everest Group in the second quarter valued at $27,000. M&R Capital Management Inc. purchased a new stake in shares of Everest Group in the third quarter worth about $29,000. Bruce G. Allen Investments LLC grew its holdings in Everest Group by 200.0% during the third quarter. Bruce G. Allen Investments LLC now owns 78 shares of the company's stock worth $31,000 after acquiring an additional 52 shares during the period. Eastern Bank purchased a new position in Everest Group during the third quarter valued at approximately $35,000. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in Everest Group by 36.9% in the second quarter. Massmutual Trust Co. FSB ADV now owns 115 shares of the company's stock valued at $44,000 after acquiring an additional 31 shares during the period. Hedge funds and other institutional investors own 92.64% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on EG shares. Keefe, Bruyette & Woods cut their target price on shares of Everest Group from $454.00 to $438.00 and set an "outperform" rating for the company in a report on Thursday, August 8th. Barclays decreased their price objective on shares of Everest Group from $527.00 to $517.00 and set an "overweight" rating for the company in a research report on Thursday. BMO Capital Markets restated a "market perform" rating and issued a $403.00 price target on shares of Everest Group in a research note on Friday, August 30th. Bank of America lowered their price target on Everest Group from $496.00 to $485.00 and set a "buy" rating on the stock in a research report on Thursday, October 10th. Finally, Morgan Stanley reduced their target price on Everest Group from $450.00 to $445.00 and set an "overweight" rating for the company in a research note on Wednesday, July 10th. Five investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $438.36.

Everest Group Price Performance

EG traded down $4.64 on Friday, hitting $350.97. 547,016 shares of the company's stock were exchanged, compared to its average volume of 346,123. The stock has a market cap of $15.11 billion, a price-to-earnings ratio of 5.49, a P/E/G ratio of 2.67 and a beta of 0.61. Everest Group, Ltd. has a fifty-two week low of $343.76 and a fifty-two week high of $417.92. The firm has a 50-day moving average price of $386.85 and a 200-day moving average price of $380.64. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.24.

Everest Group (NYSE:EG - Get Free Report) last released its earnings results on Wednesday, July 31st. The company reported $16.85 earnings per share for the quarter, missing analysts' consensus estimates of $16.97 by ($0.12). The business had revenue of $4.23 billion during the quarter, compared to analysts' expectations of $4.32 billion. Everest Group had a return on equity of 23.13% and a net margin of 16.99%. The company's revenue for the quarter was up 15.8% compared to the same quarter last year. During the same period last year, the business earned $15.21 earnings per share. As a group, equities analysts anticipate that Everest Group, Ltd. will post 60.97 earnings per share for the current year.

Everest Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Monday, September 16th were paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend was Monday, September 16th. Everest Group's dividend payout ratio (DPR) is currently 12.52%.

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.