Virtu Financial LLC Purchases New Position in Everest Group, Ltd. (NYSE:EG)

Virtu Financial LLC acquired a new position in shares of Everest Group, Ltd. (NYSE:EG) in the 4th quarter, Holdings Channel.com reports. The firm acquired 7,975 shares of the company’s stock, valued at approximately $2,820,000.

A number of other institutional investors also recently made changes to their positions in EG. Intech Investment Management LLC acquired a new position in shares of Everest Group in the fourth quarter valued at about $18,995,000. Dai ichi Life Insurance Company Ltd acquired a new stake in shares of Everest Group in the fourth quarter valued at approximately $1,271,000. Tower Research Capital LLC TRC bought a new stake in shares of Everest Group in the fourth quarter valued at approximately $2,372,000. Corient Private Wealth LLC acquired a new stake in Everest Group during the fourth quarter worth approximately $7,139,000. Finally, New York State Common Retirement Fund bought a new position in Everest Group during the 4th quarter worth $13,273,000. Institutional investors own 92.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on EG. Wells Fargo & Company cut their target price on Everest Group from $402.00 to $397.00 and set an “equal weight” rating for the company in a research report on Thursday, April 11th. Keefe, Bruyette & Woods upped their price objective 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 10th. Finally, Morgan Stanley decreased their target price on shares of Everest Group from $466.00 to $450.00 and set an “overweight” rating on the stock in a report on Monday, April 15th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $432.11.

Everest Group Price Performance

EG stock traded down $6.87 during midday trading on Friday, reaching $367.56. 203,745 shares of the stock were exchanged, compared to its average volume of 197,189. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.38 and a quick ratio of 0.38. The stock has a market capitalization of $15.97 billion, a PE ratio of 5.46, a P/E/G ratio of 3.22 and a beta of 0.62. Everest Group, Ltd. has a 52 week low of $331.08 and a 52 week high of $417.92. The company has a fifty day moving average price of $377.15 and a 200 day moving average price of $376.10.

Everest Group (NYSE:EG) last released its quarterly earnings results on Monday, April 29th. The company reported $16.32 earnings per share for the quarter, topping the consensus estimate of $15.98 by $0.34. The company had revenue of $4.13 billion for the quarter, compared to analysts’ expectations of $4.05 billion. Everest Group had a return on equity of 24.86% and a net margin of 18.69%. The business’s quarterly revenue was up 25.8% compared to the same quarter last year. During the same period in the previous year, the business posted $11.31 earnings per share. As a group, analysts expect that Everest Group, Ltd. will post 61.65 EPS for the current fiscal year.

Everest Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Wednesday, May 29th were paid a dividend of $2.00 per share. The ex-dividend date was Wednesday, May 29th. This represents a $8.00 annualized dividend and a dividend yield of 2.18%. This is an increase from Everest Group’s previous quarterly dividend of $1.75. Everest Group’s dividend payout ratio (DPR) is presently 11.89%.

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.