Lazard Asset Management LLC Boosts Stock Position in Everest Group, Ltd. (NYSE:EG)

Lazard Asset Management LLC increased its stake in Everest Group, Ltd. (NYSE:EG) by 50.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 67,710 shares of the company’s stock after purchasing an additional 22,662 shares during the quarter. Lazard Asset Management LLC’s holdings in Everest Group were worth $26,914,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Allworth Financial LP bought a new position in shares of Everest Group in the fourth quarter worth $25,000. Avior Wealth Management LLC bought a new stake in Everest Group during the fourth quarter valued at approximately $25,000. Headlands Technologies LLC purchased a new position in Everest Group in the 4th quarter worth approximately $25,000. Janiczek Wealth Management LLC purchased a new stake in shares of Everest Group during the 4th quarter valued at $27,000. Finally, Trifecta Capital Advisors LLC purchased a new stake in shares of Everest Group during the 4th quarter valued at $28,000. 92.64% of the stock is currently owned by institutional investors.

Everest Group Trading Up 2.5 %

NYSE EG opened at $382.93 on Monday. The stock’s 50 day moving average is $381.95 and its 200 day moving average is $377.66. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $16.64 billion, a PE ratio of 5.69, a P/E/G ratio of 1.98 and a beta of 0.63. Everest Group, Ltd. has a twelve month low of $343.36 and a twelve month high of $417.92.

Everest Group (NYSE:EG) last released its earnings results on Monday, April 29th. The company reported $16.32 earnings per share for the quarter, topping 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 firm had revenue of $4.13 billion for the quarter, compared to the consensus estimate of $4.05 billion. During the same period in the prior year, the firm earned $11.31 EPS. The company’s revenue was up 25.8% compared to the same quarter last year. Research analysts forecast that Everest Group, Ltd. will post 61.25 earnings per share for the current fiscal year.

Everest Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Wednesday, May 29th were paid a dividend of $2.00 per share. This is an increase from Everest Group’s previous quarterly dividend of $1.75. The ex-dividend date of this dividend was Wednesday, May 29th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.09%. Everest Group’s dividend payout ratio (DPR) is currently 11.89%.

Analysts Set New Price Targets

A number of research firms recently weighed in on EG. Morgan Stanley dropped their target price on Everest Group from $450.00 to $445.00 and set an “overweight” rating for the company 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 report on Friday, July 12th. Bank of America increased their target price on shares of Everest Group from $470.00 to $493.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Finally, Wells Fargo & Company lowered their price target 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. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Everest Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $437.40.

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.