Bright Futures Wealth Management LLC. Boosts Stock Position in Everest Group, Ltd. (NYSE:EG)

Bright Futures Wealth Management LLC. boosted its stake in shares of Everest Group, Ltd. (NYSE:EG) by 5.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,665 shares of the company’s stock after buying an additional 368 shares during the period. Everest Group makes up about 1.1% of Bright Futures Wealth Management LLC.’s investment portfolio, making the stock its 20th largest holding. Bright Futures Wealth Management LLC.’s holdings in Everest Group were worth $2,427,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in EG. American National Bank purchased a new position in Everest Group in the 2nd quarter worth approximately $27,000. Massmutual Trust Co. FSB ADV purchased a new position in shares of Everest Group in the first quarter worth $33,000. Heritage Wealth Advisors bought a new position in shares of Everest Group during the fourth quarter valued at $30,000. FinTrust Capital Advisors LLC purchased a new stake in shares of Everest Group during the fourth quarter valued at $33,000. Finally, Benjamin F. Edwards & Company Inc. bought a new stake in Everest Group in the 4th quarter worth about $35,000. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on EG. TD Cowen dropped their price target on shares of Everest Group from $419.00 to $405.00 and set a “hold” rating on the stock in a report on Tuesday, August 13th. Wells Fargo & Company raised their target price on shares of Everest Group from $392.00 to $393.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Morgan Stanley decreased their target price on shares of Everest Group from $450.00 to $445.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. Keefe, Bruyette & Woods dropped their price target 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. Finally, Bank of America lifted their price objective on Everest Group from $470.00 to $493.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $438.09.

Everest Group Stock Performance

NYSE:EG opened at $387.02 on Tuesday. The stock has a 50-day simple moving average of $379.43 and a two-hundred day simple moving average of $379.05. 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 52-week low of $343.76 and a 52-week high of $417.92. The firm has a market capitalization of $16.82 billion, a PE ratio of 5.75, a P/E/G ratio of 2.50 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 (EPS) for the quarter, missing analysts’ consensus estimates of $16.97 by ($0.12). Everest Group had a net margin of 18.36% and a return on equity of 24.09%. The company had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.32 billion. During the same quarter last year, the firm posted $15.21 earnings per share. The company’s revenue was up 15.8% compared to the same quarter last year. Analysts forecast 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. Stockholders of record on Monday, September 16th will be given a dividend of $2.00 per share. The ex-dividend date is Monday, September 16th. This represents a $8.00 annualized dividend and a dividend yield of 2.07%. Everest Group’s payout ratio is 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.