Westwood Holdings Group Inc. Sells 6,056 Shares of Everest Group, Ltd. (NYSE:EG)

Westwood Holdings Group Inc. lowered its position in shares of Everest Group, Ltd. (NYSE:EG) by 87.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 901 shares of the company’s stock after selling 6,056 shares during the period. Westwood Holdings Group Inc.’s holdings in Everest Group were worth $358,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in EG. Allworth Financial LP acquired a new stake in shares of Everest Group in the 4th quarter valued at $25,000. Avior Wealth Management LLC acquired a new stake in shares of Everest Group in the 4th quarter valued at $25,000. Headlands Technologies LLC acquired a new stake in shares of Everest Group in the 4th quarter valued at $25,000. Janiczek Wealth Management LLC acquired a new stake in shares of Everest Group in the 4th quarter valued at $27,000. Finally, Trifecta Capital Advisors LLC acquired a new stake in shares of Everest Group in the 4th quarter valued at $28,000. Institutional investors own 92.64% of the company’s stock.

Everest Group Trading Down 1.1 %

EG traded down $4.21 during midday trading on Friday, hitting $364.13. 407,891 shares of the company were exchanged, compared to its average volume of 366,346. The firm has a market capitalization of $15.83 billion, a P/E ratio of 5.41, a P/E/G ratio of 1.90 and a beta of 0.63. Everest Group, Ltd. has a 1-year low of $343.36 and a 1-year high of $417.92. The firm’s 50 day moving average price is $380.68 and its 200-day moving average price is $377.86. The company has a quick ratio of 0.38, a current ratio of 0.36 and a debt-to-equity ratio of 0.24.

Everest Group (NYSE:EG) last announced its earnings results on Wednesday, July 31st. The company reported $16.85 EPS for the quarter, missing the consensus estimate of $16.97 by ($0.12). The company had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.32 billion. Everest Group had a return on equity of 24.09% and a net margin of 18.36%. The firm’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $15.21 earnings per share. As a group, equities analysts forecast that Everest Group, Ltd. will post 61.44 EPS for the current fiscal year.

Everest Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Wednesday, May 29th were given a $2.00 dividend. The ex-dividend date was Wednesday, May 29th. This is a positive change from Everest Group’s previous quarterly dividend of $1.75. This represents a $8.00 annualized dividend and a dividend yield of 2.20%. Everest Group’s dividend payout ratio (DPR) is 11.89%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on EG shares. Bank of America raised their target price on Everest Group from $470.00 to $493.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Keefe, Bruyette & Woods reduced their target price on Everest Group from $457.00 to $454.00 and set an “outperform” rating on the stock in a report on Friday, July 12th. Wells Fargo & Company reduced their target price on Everest Group from $402.00 to $397.00 and set an “equal weight” rating on the stock in a report on Thursday, April 11th. Finally, Morgan Stanley cut their price objective on Everest Group from $450.00 to $445.00 and set an “overweight” rating on the stock in a report on Wednesday, July 10th. Three investment 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $437.40.

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.