Squarepoint Ops LLC Decreases Stock Position in Everest Group, Ltd. $EG

Squarepoint Ops LLC cut its stake in Everest Group, Ltd. (NYSE:EG) by 52.4% in the second quarter, Holdings Channel reports. The institutional investor owned 9,737 shares of the company’s stock after selling 10,715 shares during the period. Squarepoint Ops LLC’s holdings in Everest Group were worth $3,478,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Trifecta Capital Advisors LLC bought a new position in Everest Group during the second quarter valued at $29,000. Raiffeisen Bank International AG purchased a new stake in shares of Everest Group in the fourth quarter valued at $34,000. Cullen Frost Bankers Inc. bought a new stake in shares of Everest Group in the 4th quarter worth about $37,000. CYBER HORNET ETFs LLC bought a new stake in shares of Everest Group in the 2nd quarter worth about $39,000. Finally, MUFG Securities EMEA plc purchased a new position in shares of Everest Group during the 2nd quarter worth about $43,000. 92.64% of the stock is currently owned by institutional investors.

Everest Group Trading Up 0.3%

EG stock opened at $372.22 on Friday. The company has a market capitalization of $14.27 billion, a PE ratio of 7.87, a P/E/G ratio of 0.73 and a beta of 0.28. Everest Group, Ltd. has a 12 month low of $302.44 and a 12 month high of $401.07. The firm’s 50-day moving average is $374.65 and its 200 day moving average is $351.19. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.35 and a quick ratio of 0.35.

Everest Group (NYSE:EG) last announced its quarterly earnings data on Tuesday, June 30th. The company reported $14.85 earnings per share for the quarter. The company had revenue of $3.96 billion during the quarter. Everest Group had a net margin of 11.41% and a return on equity of 13.63%. On average, research analysts anticipate that Everest Group, Ltd. will post 53.2 EPS for the current year.

Everest Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Wednesday, September 9th will be given a dividend of $2.00 per share. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.1%. Everest Group’s dividend payout ratio (DPR) is 16.92%.

Analysts Set New Price Targets

Several equities analysts recently commented on EG shares. UBS Group upped their price target on shares of Everest Group from $374.00 to $395.00 and gave the company a “neutral” rating in a report on Monday, August 3rd. Evercore set a $377.00 price objective on shares of Everest Group in a research note on Thursday, July 30th. Cantor Fitzgerald boosted their target price on Everest Group from $344.00 to $390.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Morgan Stanley upped their target price on Everest Group from $355.00 to $360.00 and gave the company an “equal weight” rating in a research note on Monday, July 6th. Finally, Atlantic Securities set a $484.00 price target on Everest Group in a report on Wednesday, July 15th. Four research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $395.27.

Everest Group Profile

Everest Group, Ltd. (NYSE: EG) is a global insurance and reinsurance company headquartered in Hamilton, Bermuda. Through its operating subsidiaries, the company provides property and casualty insurance and reinsurance products to businesses, insurers and other institutional clients.

Everest’s reinsurance operations cover a range of property, casualty and specialty risks, while its insurance business offers commercial coverage in areas such as property, casualty, specialty, marine, accident and health.