Sculati Wealth Management LLC Grows Holdings in Everest Group, Ltd. $EG

Sculati Wealth Management LLC grew its position in shares of Everest Group, Ltd. (NYSE:EG) by 44.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,715 shares of the company’s stock after purchasing an additional 840 shares during the period. Sculati Wealth Management LLC’s holdings in Everest Group were worth $923,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Verdence Capital Advisors LLC boosted its position in Everest Group by 47.4% during the first quarter. Verdence Capital Advisors LLC now owns 1,576 shares of the company’s stock worth $572,000 after acquiring an additional 507 shares during the last quarter. Dynasty Wealth Management LLC purchased a new position in shares of Everest Group during the 1st quarter worth $205,000. Private Advisor Group LLC acquired a new stake in shares of Everest Group during the first quarter worth $214,000. Impact Partnership Wealth LLC purchased a new stake in shares of Everest Group in the first quarter valued at $350,000. Finally, South Dakota Investment Council grew its position in shares of Everest Group by 7.4% in the first quarter. South Dakota Investment Council now owns 99,181 shares of the company’s stock valued at $36,035,000 after purchasing an additional 6,871 shares during the period. Institutional investors and hedge funds own 92.64% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on EG. Wall Street Zen downgraded Everest Group from a “buy” rating to a “hold” rating in a research report on Sunday, November 2nd. Cowen reissued a “hold” rating on shares of Everest Group in a research report on Tuesday, October 7th. Wells Fargo & Company dropped their price target on shares of Everest Group from $383.00 to $343.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 29th. Barclays cut their price target on shares of Everest Group from $425.00 to $365.00 and set an “overweight” rating on the stock in a research note on Friday, October 31st. Finally, Cantor Fitzgerald raised Everest Group to a “hold” rating in a research report on Wednesday, August 13th. Five investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat, Everest Group has a consensus rating of “Hold” and an average price target of $372.36.

Insider Buying and Selling at Everest Group

In other news, Director William F. Galtney, Jr. acquired 11,385 shares of the firm’s stock in a transaction on Wednesday, October 29th. The stock was bought at an average cost of $307.38 per share, with a total value of $3,499,521.30. Following the transaction, the director directly owned 45,491 shares in the company, valued at approximately $13,983,023.58. This represents a 33.38% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Allan Levine bought 3,100 shares of the stock in a transaction dated Wednesday, October 29th. The shares were acquired at an average price of $306.08 per share, with a total value of $948,848.00. Following the completion of the purchase, the director directly owned 4,153 shares of the company’s stock, valued at approximately $1,271,150.24. This represents a 294.40% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 1.10% of the stock is currently owned by corporate insiders.

Everest Group Stock Down 0.4%

Shares of NYSE EG opened at $326.11 on Friday. The stock has a fifty day moving average price of $339.11 and a 200 day moving average price of $339.28. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.24. Everest Group, Ltd. has a 12-month low of $302.44 and a 12-month high of $392.78. The company has a market cap of $13.69 billion, a P/E ratio of 24.84, a P/E/G ratio of 0.25 and a beta of 0.47.

Everest Group (NYSE:EG) last issued its earnings results on Monday, October 27th. The company reported $7.54 earnings per share for the quarter, missing the consensus estimate of $13.39 by ($5.85). The company had revenue of $4.32 billion during the quarter, compared to analysts’ expectations of $3.86 billion. Everest Group had a return on equity of 3.81% and a net margin of 3.12%.Everest Group’s quarterly revenue was up .8% on a year-over-year basis. During the same period in the previous year, the company earned $11.80 EPS. Research analysts anticipate that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Wednesday, November 26th will be given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Wednesday, November 26th. Everest Group’s payout ratio is presently 60.93%.

About Everest Group

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.