Delap Wealth Advisory LLC Makes New Investment in Everest Group, Ltd. (NYSE:EG)

Delap Wealth Advisory LLC acquired a new position in Everest Group, Ltd. (NYSE:EG) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 506 shares of the company’s stock, valued at approximately $201,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Allworth Financial LP purchased a new stake in Everest Group in the fourth quarter valued at approximately $25,000. Avior Wealth Management LLC bought a new position in Everest Group in the 4th quarter worth $25,000. Headlands Technologies LLC purchased a new position in shares of Everest Group during the fourth quarter valued at about $25,000. Janiczek Wealth Management LLC bought a new position in Everest Group in the fourth quarter worth about $27,000. Finally, Trifecta Capital Advisors LLC purchased a new position in shares of Everest Group during the 4th quarter worth approximately $28,000. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Everest Group Stock Performance

NYSE EG traded up $10.40 on Friday, hitting $384.15. 161,089 shares of the company traded hands, compared to its average volume of 326,352. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.25. The business’s 50 day moving average price is $382.15 and its 200-day moving average price is $377.48. The company has a market capitalization of $16.70 billion, a price-to-earnings ratio of 5.55, a P/E/G ratio of 1.97 and a beta of 0.63. Everest Group, Ltd. has a 52-week low of $343.36 and a 52-week high of $417.92.

Everest Group (NYSE:EG) last posted 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 return on equity of 24.86% and a net margin of 18.69%. The business had revenue of $4.13 billion for the quarter, compared to analysts’ expectations of $4.05 billion. During the same period last year, the firm earned $11.31 earnings per share. The business’s quarterly revenue was up 25.8% on a year-over-year basis. Equities analysts expect that Everest Group, Ltd. will post 61.25 earnings per share for the current year.

Everest Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Wednesday, May 29th were issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 2.08%. This is a boost from Everest Group’s previous quarterly dividend of $1.75. The ex-dividend date was Wednesday, May 29th. Everest Group’s dividend payout ratio is 11.89%.

Analyst Ratings Changes

Several research firms recently commented on EG. Wells Fargo & Company dropped their price objective on shares of Everest Group from $402.00 to $397.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 11th. Keefe, Bruyette & Woods cut their price target on Everest Group from $457.00 to $454.00 and set an “outperform” rating on the stock in a research note on Friday, July 12th. Morgan Stanley reduced their price objective 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. Finally, Bank of America boosted their target price on Everest Group from $470.00 to $493.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price 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.