Jacobs Levy Equity Management Inc. Buys 33,077 Shares of Everest Group, Ltd. (NYSE:EG)

Jacobs Levy Equity Management Inc. boosted its stake in Everest Group, Ltd. (NYSE:EG) by 38.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 118,092 shares of the company’s stock after acquiring an additional 33,077 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Everest Group were worth $46,942,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in EG. Allworth Financial LP bought a new stake in Everest Group in the 4th quarter valued at $25,000. Avior Wealth Management LLC bought a new stake in Everest Group in the 4th quarter valued at $25,000. Headlands Technologies LLC bought a new stake in Everest Group in the 4th quarter valued at $25,000. Janiczek Wealth Management LLC bought a new stake in Everest Group in the 4th quarter valued at $27,000. Finally, Trifecta Capital Advisors LLC bought a new stake in Everest Group during the 4th quarter worth about $28,000. 92.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

EG has been the topic of several analyst reports. Morgan Stanley cut their price target on shares of Everest Group from $450.00 to $445.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 10th. Keefe, Bruyette & Woods cut their price target on shares of Everest Group from $457.00 to $454.00 and set an “outperform” rating on the stock in a research report on Friday, July 12th. Bank of America boosted their price target on shares of Everest Group from $470.00 to $493.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Finally, Wells Fargo & Company cut their price target on shares of Everest Group from $402.00 to $397.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 11th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $437.40.

Everest Group Stock Performance

EG traded up $5.44 on Tuesday, reaching $389.44. The company had a trading volume of 383,723 shares, compared to its average volume of 328,288. Everest Group, Ltd. has a fifty-two week low of $343.36 and a fifty-two week high of $417.92. The stock has a market cap of $16.93 billion, a P/E ratio of 5.76, a P/E/G ratio of 1.98 and a beta of 0.63. The company’s fifty day moving average is $381.84 and its 200 day moving average is $377.73. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.38 and a current ratio of 0.38.

Everest Group (NYSE:EG) last announced its quarterly earnings results on Monday, April 29th. The company reported $16.32 EPS for the quarter, beating analysts’ consensus estimates of $15.98 by $0.34. Everest Group had a net margin of 18.69% and a return on equity of 24.86%. The business had revenue of $4.13 billion for the quarter, compared to analyst estimates of $4.05 billion. During the same quarter in the prior year, the business earned $11.31 EPS. Everest Group’s quarterly revenue was up 25.8% on a year-over-year basis. As a group, analysts predict that Everest Group, Ltd. will post 61.25 earnings per share for the current fiscal year.

Everest Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Wednesday, May 29th were paid a $2.00 dividend. The ex-dividend date of this dividend was Wednesday, May 29th. This represents a $8.00 dividend on an annualized basis and a yield of 2.05%. This is a positive change from Everest Group’s previous quarterly dividend of $1.75. Everest Group’s dividend payout ratio is 11.89%.

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.