Qsemble Capital Management LP Buys 561 Shares of Everest Group, Ltd. (NYSE:EG)

Qsemble Capital Management LP raised its stake in shares of Everest Group, Ltd. (NYSE:EG) by 33.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,226 shares of the company’s stock after purchasing an additional 561 shares during the period. Qsemble Capital Management LP’s holdings in Everest Group were worth $848,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in EG. American National Bank bought a new position in shares of Everest Group in the 2nd quarter worth about $27,000. Heritage Wealth Advisors bought a new position in shares of Everest Group in the 4th quarter worth about $30,000. FinTrust Capital Advisors LLC bought a new position in shares of Everest Group in the 4th quarter worth about $33,000. Massmutual Trust Co. FSB ADV acquired a new stake in shares of Everest Group in the 1st quarter valued at about $33,000. Finally, Hollencrest Capital Management grew its stake in shares of Everest Group by 575.0% in the 1st quarter. Hollencrest Capital Management now owns 135 shares of the company’s stock valued at $54,000 after buying an additional 115 shares during the period. 92.64% of the stock is owned by institutional investors.

Everest Group Trading Up 0.7 %

NYSE:EG opened at $379.10 on Friday. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $16.47 billion, a PE ratio of 5.63, a price-to-earnings-growth ratio of 2.50 and a beta of 0.62. The firm’s 50 day moving average is $380.19 and its 200 day moving average is $379.11. Everest Group, Ltd. has a 12 month low of $343.76 and a 12 month high of $417.92.

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

Everest Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Monday, September 16th will be issued a dividend of $2.00 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $8.00 dividend on an annualized basis and a yield of 2.11%. Everest Group’s payout ratio is 11.89%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Barclays began coverage on Everest Group in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $527.00 target price for the company. TD Cowen cut their price target on Everest Group from $419.00 to $405.00 and set a “hold” rating for the company in a research note on Tuesday, August 13th. Bank of America lifted their price target on Everest Group from $470.00 to $493.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Morgan Stanley dropped their target price on shares of Everest Group from $450.00 to $445.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 10th. Finally, BMO Capital Markets reissued a “market perform” rating and set a $403.00 target price on shares of Everest Group in a research report on Friday, August 30th. Four equities research 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 company’s stock. According to data from MarketBeat, Everest Group has a consensus rating of “Moderate Buy” and a consensus price target of $438.09.

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.