KLP Kapitalforvaltning AS Increases Stock Holdings in Everest Group, Ltd. $EG

KLP Kapitalforvaltning AS lifted its stake in shares of Everest Group, Ltd. (NYSE:EG) by 1.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 28,341 shares of the company’s stock after purchasing an additional 300 shares during the quarter. KLP Kapitalforvaltning AS owned 0.07% of Everest Group worth $9,632,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SVB Wealth LLC bought a new stake in shares of Everest Group during the 1st quarter valued at $30,000. Tsfg LLC bought a new stake in shares of Everest Group during the 1st quarter valued at $33,000. Zions Bancorporation National Association UT bought a new stake in shares of Everest Group during the 1st quarter valued at $34,000. WPG Advisers LLC bought a new stake in shares of Everest Group during the 1st quarter valued at $37,000. Finally, Geneos Wealth Management Inc. raised its stake in shares of Everest Group by 98.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 181 shares of the company’s stock valued at $66,000 after purchasing an additional 90 shares during the period. 92.64% of the stock is currently owned by institutional investors.

Everest Group Price Performance

EG opened at $351.58 on Friday. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $14.75 billion, a P/E ratio of 18.66, a PEG ratio of 0.27 and a beta of 0.48. The stock has a 50-day moving average price of $341.43 and a 200-day moving average price of $342.79. Everest Group, Ltd. has a 12-month low of $320.00 and a 12-month high of $402.11.

Everest Group (NYSE:EG) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $17.36 EPS for the quarter, beating the consensus estimate of $15.14 by $2.22. The firm had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.22 billion. Everest Group had a return on equity of 5.89% and a net margin of 4.56%.The company’s revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the company earned $16.85 EPS. Equities analysts predict that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Wednesday, September 3rd were given a dividend of $2.00 per share. The ex-dividend date was Wednesday, September 3rd. This represents a $8.00 annualized dividend and a dividend yield of 2.3%. Everest Group’s dividend payout ratio is 42.46%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on EG shares. Raymond James Financial set a $375.00 price objective on Everest Group and gave the company an “outperform” rating in a research note on Monday, September 22nd. Citigroup initiated coverage on Everest Group in a research note on Wednesday, August 13th. They set a “neutral” rating and a $362.00 price objective on the stock. Evercore ISI upped their target price on Everest Group from $380.00 to $384.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 1st. Keefe, Bruyette & Woods upped their target price on Everest Group from $405.00 to $416.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 6th. Finally, Cowen restated a “hold” rating on shares of Everest Group in a research note on Tuesday. Five research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Everest Group currently has a consensus rating of “Hold” and a consensus target price of $382.79.

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.