Mount Lucas Management LP Increases Stock Holdings in Everest Group, Ltd. (NYSE:EG)

Mount Lucas Management LP increased its holdings in Everest Group, Ltd. (NYSE:EG) by 3.4% in the second quarter, Holdings Channel.com reports. The firm owned 12,286 shares of the company’s stock after purchasing an additional 404 shares during the period. Everest Group accounts for 1.3% of Mount Lucas Management LP’s investment portfolio, making the stock its 18th largest holding. Mount Lucas Management LP’s holdings in Everest Group were worth $4,681,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Truist Financial Corp acquired a new position in Everest Group in the fourth quarter valued at $450,000. Benjamin F. Edwards & Company Inc. acquired a new position in Everest Group in the fourth quarter valued at $35,000. M&T Bank Corp acquired a new position in Everest Group in the fourth quarter valued at $1,123,000. National Bank of Canada FI acquired a new position in Everest Group in the fourth quarter valued at $3,080,000. Finally, Metis Global Partners LLC acquired a new position in Everest Group in the fourth quarter valued at $496,000. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Everest Group Stock Down 1.6 %

Shares of NYSE:EG traded down $6.11 during trading on Friday, hitting $383.39. The company’s stock had a trading volume of 283,238 shares, compared to its average volume of 328,462. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.38 and a current ratio of 0.38. Everest Group, Ltd. has a fifty-two week low of $343.76 and a fifty-two week high of $417.92. The stock’s 50-day moving average price is $379.26 and its two-hundred day moving average price is $378.82. The company has a market capitalization of $16.66 billion, a PE ratio of 5.70, a PEG ratio of 2.56 and a beta of 0.62.

Everest Group (NYSE:EG) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $16.85 earnings per share for the quarter, missing the consensus estimate of $16.97 by ($0.12). The firm had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.32 billion. Everest Group had a net margin of 18.36% and a return on equity of 24.09%. The firm’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $15.21 earnings per share. As a group, sell-side analysts expect that Everest Group, Ltd. will post 61.76 EPS for the current year.

Everest Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Monday, September 16th will be issued a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend is Monday, September 16th. Everest Group’s dividend payout ratio is currently 11.89%.

Wall Street Analyst Weigh In

A number of research analysts have commented on EG shares. Wells Fargo & Company boosted their price objective on Everest Group from $392.00 to $393.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. Barclays started coverage on Everest Group in a research note on Wednesday. They set an “overweight” rating and a $527.00 price objective on the stock. BMO Capital Markets restated a “market perform” rating and set a $403.00 price objective on shares of Everest Group in a research note on Friday, August 30th. Bank of America boosted their price objective on Everest Group from $470.00 to $493.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Finally, Keefe, Bruyette & Woods reduced their price objective on Everest Group from $454.00 to $438.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Everest Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $439.00.

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.